Studio Legale Lauro - Shipping

The historical presence of Banco di Napoli in Italy’s Mezzogiorno testifies to the close link between the Bank and the developments of South Italy ‘s economy. This note will outline some of the milestones of this historical course.
Banco di Napoli originated from the public banks of charity institutions established in Naples between the 16th and the 17th centuries.
In 1794 Ferdinand IV of Bourbon merged all the public banks into a Banco Nazionale di Napoli.
In December 1808, Joachim Murat became the King of Naples and decided to tap from the experience of the Bank of France to establish a bank in the form of a jointstock company, named Banco delle Due Sicilie; after the unification of Italy in 1861, the name was changed into Banco di Napoli.
Banco di Napoli was a bank of issue until it became a Public Law Credit Institution. In 1991 the “Amato Law” was enacted, transforming the Bank from a Public Law Credit Institution into a public company.
At the end of 2002 the merger by incorporation of Banco di Napoli in SANPAOLO IMI took place.

As a result of the merger between Intesa and Sanpaolo in January 2007, Banco di Napoli strengthened its presence in the area where its historical roots lie. In October of the same year the ancient and historical name of Banco di Napoli was restored.
The centuries-old tradition of South Italy’s major banking institution, supporting and enhancing the intellectual wealth of the South and its most prominent expressions, lies at the core of Banco di Napoli’s willingness to participate in broad cultural and social projects that may have positive fall-outs on the communities involved.

Banca IMI, the investment bank of the Intesa Sanpaolo Group operates in the areas of Investment Banking, Capital Markets and Structured Finance on the main domestic and international markets thanks to its offices in Milan, Rome, London and Banca IMI Securities Corp. in New York.
Banca IMI targets banks, companies, institutional investors, governments and public administrations. It is one of the leading Italian financial operators and has a strong presence in equity and debt placements, extraordinary finance and securities trading.
Banca IMI Project & Industry Specialised Lending desk specialises in the following sectors: Power & Utilities, Oil & Gas, TMT, Transportation-Shipping and Infrastructures linked to these industries.
The Shipping desk provides advisory services as well as structured finance lending solutions to the Shipping Industry worldwide for:
– New Building vessel: pre and post delivery financing Second Hand vessel financing
– Debt refinancing and restructuring

– Sectors coverage:Tanker, Dry Bulk, Chemical, Container, Gas (LNG and LPG), Offshore (FPSO, PSV, AHTS) and Ferries
The strategic rationale is:
– To be a reference partner / player for our key Italian and International clients
– To focus on strategic countries in the EMEA, US and Asian Pacific regions
– To support high quality projects from conception to execution.

In 2009 the joining of two leaders in Italian insurance brokerage market provides a new centre of excellence in the marine field focussed on serving the needs of shipowners in the South of Italy: CR Marine&Aviation is a 50-50% joint venture between Marine&Aviation and Cambiaso Risso Marine and it has its headquarter in Naples. By pooling their expertise the two companies have been able to combine the wide knowledge from Marine&Aviation’s office in Naples and from Cambiaso Risso’s one in Genoa. CR Marine&Aviation is a leading player particularly taking into consideration the importance of the Neapolitan shipping community in the international marine environment.

The synergy between Marine&Aviation and Cambiaso Risso Marine provides a unique service in this field, based on the respective companies’ tradition and experience and on their specialist risk-placement facilities in all major international insurance markets. The Marine&Aviation group includes their Lloyd’s broker, which through its office in the City of London works directly with the London insurance market. Additionally,

Cambiaso Risso is established in Norway, a country well known for its shipping tradition, and Italian shipowners can find easy access to the reputable insurance market in Scandinavia through the Bergen office of Cambiaso Risso Marine.

CR Marine&Aviation focuses on Southern Italy offering all shipowners a local structure with local staff, properly supported by a wider organization which offers the best professional insurance solutions available worldwide.

SMIT has a proud tradition of nearly 170 years of service in the maritime sector. The company has earned an excellent reputation by combining expertise and experience with high-quality materials and equipment in the nearly 50 locations around the world where SMIT is active. SMIT aims to provide its worldwide services in the main to shipping companies, producers in the oil and LNG industries, (offshore) construction companies, insurers, governments and shipyards. SMIT maintains the highest standards in respect of Safety, Health, the protection of the Environment and Quality. SMIT is a member of Royal Boskalis Westminster nv.
SMIT’s services are organised into four Divisions: Harbour Towage: harbour towage services and related maritime services.
Terminals: towage services and related maritime and management services to offshore and onshore terminals. Salvage: salvage, wreck removal, environmental protection and consultancy.
Transport & Heavy Lift: chartering, barge rental & transport, ocean, coastal and river towage, heavy lifting

and marine support to a variety of civil and offshore projects and subsea services.

Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasising technological innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2009, Wärtsilä’s net sales totalled EUR 5.3 billion with 18,000 employees. The company has operations in 160 locations in 70 countries around the world. Wärtsilä is listed on the NASDAQ OMX Helsinki, Finland.


Wärtsilä Services Wärtsilä supports its customers throughout the lifecycle of their installations by optimizing efficiency and performance. We provide the broadest portfolio and best services in the industry for both ship power and power plants. We offer expertise, proximity and responsiveness for all customers regardless of their equipment make in the most environmentally sound way.
Wärtsilä has launched innovative new services that support its customers’ business operations, such as

service for multiple engine brands in key ports, predictive and condition based maintenance, and training.

Tefin is a company that operates in the field of electrical and electronic services for all types of ships and mega yachts. Our Customers are among the major Italian and international ship owners and shipyards. We are located in strategic areas of Italy, Spain and NortherN Europe, our teams are available for immediateresponse 24/7 for Italian and foreign Ports, not manned,as well as for ships in transit. Today Tefin represents a key player in the ship repair network market. Established in 1998, Tefin has a Consortium structure with partner companies formed by well experienced managers and technicians with over 35 years of service in the electrical and electronic shipping installation sector. The majority of the partner companies, with respect to quality and safety, are controlled by the Minieri family. Thanks to an extensive network of international partners and to the on-going training of its technicians, Tefin implements a suitable and capillary market approach; over 50 skilled technicians available and a wide range of specializations allow Tefin to solve any Customer problem.

The Bureau Veritas Group is the largest classification and certification society worldwide, with over 48,000 employees and over 400,000 customers in many different industries across the world.
Bureau Veritas is a service company specializing in QHSE SA management (quality, health & safety, environment and social accountability).

In the maritime field, its missions consist of:
- Classification of ships and offshore units;
- Certification and issuance of statutory certificates on behalf of more 130 Flag authorities;
- Technical assistance services and consulting;
- Training facilities in the marine technical and regulatory field.

BV has a consistent network of 2,000 high qualified marine surveyors, specialised in the implementation of safety, security, protection of environment rules and standards, operating in 330 survey stations located in 140 countries.

Legance is an independent Italian law firm founded by a group of lawyers who have been working together for over 15 years, advising clients in the most important and complex transactions completed in Italy and in Europe. Legance comprises over 150 lawyers, working in its Milan and Rome offices, and has a diverse and extensive practice covering the following areas: M&A and Corporate; Banking, Finance and Project Financing; Capital Markets and Financial Services; Litigation, Restructuring and Insolvency; Tax; EU, Antitrust and Regulation; Labour and Employment; Energy, Gas and Natural Resources; Administrative Law; Real Estate; Investment Funds; Shipping; Aviation and Transportation Law and Intellectual Property and Information Technology.

Watson, Farley & Williams is a distinctive law firm with a leading market position in international shipping finance and maritime. Shipping finance has been a core practice since the firm was founded. Our International Shipping Finance Group fields some 22 partners and 48 lawyers. Together they operate across our international network of offices in London, New York, Paris, Rome, Milan, Hamburg, Munich, Piraeus, Athens, Singapore, Bangkok and Madrid. Our finance lawyers operate across both private and public international finance markets working closely with a broad client base. Our clients include more than 150 international banks and financial institutions, corporations, governments and governmental agencies who collectively dominate the world’s shipping markets.
We provide incisive, commercially driven advice on every aspect of domestic and international ship finance transactions including:
(I) newbuilding and second-hand ship financing, (II) domestic and cross-border finance leasing, (iii) operating leases and other off-balance sheet financing, (iv) insurance policies, including credit wraps and asset

protection, (v) enforcement of security, (vi) taxation, (vii) syndication, securitisation and asset sales, (viii) maritime legislation and (ix ) workouts.

Cargotec improves the efficiency of cargo flows on land and at sea – wherever cargo is on the move. Cargotec’s daughter brands, Hiab, Kalmar and Mac Gregor are recognized leaders in cargo and load handling solutions around the world. Cargotec’s global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec’s sales totaled EUR 2.6 billion in 2009 and it employs approximately 9,500 people. Cargotec’s class B shares are quoted on the NASDAQ OMX Helsinki.

Formed in 1936 by the amalgamation of three City firms with origins dating from 1775, Bentleys, Stokes & Lowless is a highly regarded practice specialising in maritime and insurance law based in London. The fi rm acts for private and corporate clients in the UK and overseas and works with an established worldwide network of correspondent lawyers, independent experts and consultants in related fi elds. Members of the fi rm have a wealth of experience in shipping and insurance and are available 24 hours a day, 7 days a week to provide advice and assistance on all aspects of maritime disputes and casualties and are available to travel world-wide at short notice. Languages spoken include French, Spanish, Italian and German.

Rina is one of the oldest classification societies and certification companies in the world. Established in Genoa in1861 to serve the marine industry, today it spans the globe as a multinational and multi-faceted company, sharing its knowledge and experience through a wide range of services which help industries and the community to improve their businesses and quality of life. Rina’s services cover the environment, energy, transportation, logistics, safety, quality and social responsibility.

International Registries, Inc. (IRI) and its group of affiliated companies are the Maritime and Corporate Administrators of the Republic of the Marshall Islands. IRI has been administering maritime and corporate registries since 1948. The Marshall Islands Registry is the third largest registry in the world reaching 60.6 million gross tons and more than 2250 vessels by the end of July 2010. Vessel types include oil tankers, LNG/gas carriers, bulk carriers, container ships, mobile offshore drilling units, and yachts, among others. The emergence of the Marshall Islands as the jurisdiction of choice for the majority of the shipping industry’s initial public offerings (IPOs) has had a positive impact on the international business community’s comfort with and reliance on the Marshall Islands Corporate Registry. More than 33 Marshall Islands business entities are publicly traded on exchanges in London, New York and Singapore.

The Marshall Islands has a network of 20 worldwide offices that have the ability to register a vessel or

yacht, record a mortgage, incorporate a company, issue seafarer documentation and service clientele. The most important asset to the Registry is its customers and IRI strives to provide them with full service from any office 24 hours a day.

Since 1970, the Company has been actively involved in Chartering, Sale and Purchase, Ship-project financing, Shipping commercial agency operations and consultancy services. Unitramp is a family owned (Frulio) Company, very old member of BIMCO and the Italian Shipowners’ Association, Confitarma. Chartering: Primarily focused on the spot market for Dry CargoPanamax, Post-Panamax, Capers and Handy/ Supramax b/c tonnage,as well as on long term contracts/ projects and fixtures, often originated in connection with its S&P/New Building Dept. The Company’s Drycargo chartering department focused on many of important Italian and foreign Shipowners and Traders/ Charterers;but the chartering daily activity also covers the segment of Container, RoPax, Cruise and Tanker Ships.

S&P: the Company is very active and fully dedicated in the aim of offering the best service, at highest professionalism and deepest market knowledge to Clientele. This is the secret to success that allowed the Company to finalizing a huge number of sale contracts

as newbuildings in China and Far-East, as well many second-hand and scrap deals.
Ship-Finance Projects: whenever requested, the Company also providing for assistance to their clients in getting financing/loan facilities in lieu of the excellent and special relationship with some of primary Italian and German shipping Banks.

Poliass - Insurance Broker - is placed in a prominent position among the insurance broker specialized in marine and counts among its clients many of the leading shipping company, managing their insurances programs with professionalism and competence.

The work and professional approach is to analyze and transfer, in perfect balance, customers needs on primary Italian and foreign insurance companies who can guarantee high financial reliability obtaining the best conditions offered by the market.

Poliass offers a high level advisory services, aimed at satisfy customers needs that are supervised directly by sector operators in each phase, from risks analysis to the management of the claim, with dedicated teams.

Jones Day’s Milan Office opened in 2001 and has steadily grown to its present size of 30 professionals, including 7 Partners and 3 Of Counsel.
Our Milan Office advises clients on corporate and commercial matters, with particular emphasis on the following areas of law: Antitrust & Competition; Banking & Finance, including banking litigation; Business Restructuring & Reorganization, including preinsolvency and insolvency matters for issues related to structured finance products and derivatives; Capital Markets; Employee Benefits & Executive Compensation; Energy; Intellectual Property; International Litigation & Arbitration; Labor & Employment; Mergers & Acquisitions, including joint ventures; Private Equity; Real Estate, including finance; and Tax.
Our lawyers have gained considerable experience in relation to legal issues affecting many industries, including automotive, chemicals, construction, consumer products, energy, fashion, financial services, health care, insurance, media, pharmaceuticals, and telecommunications.

The Milan Office and its attorneys are fully integrated into the Firm’s global organization of more than 2500 lawyers in offices across the Americas, Europe, the Middle East, Asia, and Australia. Jones Day’s One Firm Worldwide approach to legal service provides our clients not only an international reach, but also seamless, efficient access to substantial legal resources wherever needed.

UniCredit is a major international financial institution with strong roots in 22 European countries and an overall international network present in approximately 50 markets, over 9,500 branches and 160,000 employees as of 30 June 2011.

In the CEE region, UniCredit operates the largest international banking network with nearly 3,900 branches.

The Group operates in the following countries: Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Germany, Hungary, Italy, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

Ince & Co. is a leading international law firm specialized in all areas of shipping, energy / offshore and insurance law and is consistantly rated as the leading or one of the leading firms in these areas by independent legal publications. Ince & Co. operates from nine offices worldwide based on major shipping centres. Ince & Co. also has a major presence in the italian market and has done so for many years.

The Hill Dickinson Group offers a comprehensive range of legal services from offices in Liverpool, Manchester, London, Chester, Sheffield, Piraeus and Singapore. Collectively the firms have more than 1,300 people including 190 partners.

The firm has award-winning corporate, employment, property and construction practices and is widely regarded as a leader in the fields of professional risks, commercial litigation, intellectual property and wealth management. It is a major force in insurance and well respected in the corporate and commercial arena. The firm’s marine expertise is internationally renowned with one of the largest marine practices in the world.

Hill Dickinson won ‘Law firm of the year’ at the Legal Business Awards 2010, and ‘Corporate Philanthropy Award’ at the Spirit of Merseyside Awards 2010. As a recognised leader in commercial property and employment law, Hill Dickinson also won Insider North West 2009 ‘Property law firm of the year, as well as ‘Employment team of the year’ at the Liverpool Law Society Awards 2009.

We are a partnership of maritime and insurance lawyers based in London, close to Finsbury Circus and Moorgate in the City.

We operate in specialised fields: the carriage of goods by sea; the commercial operation of ships; the sale and purchase of goods; insurance and reinsurance. Much of our work concerns dispute resolution. A significant, and growing, amount of what we do is, however, noncontentious, involving the drafting and negotiation of commercial agreements and advice on various regulatory matters.

The firm comprises 13 partners, 13 assistant solicitors and a team of 14 support staff. Although some expansion is inevitable, we want to maintain our current friendly working environment, where everyone knows everyone else.

Marinter Shipping Agency is a shipping agency based in Napoli which started its activities in 1985.
Marinter is partner of Cambiaso e Risso Napoli Srl, a shipping agency which acts mainly in the cruise vessels and gas/oil tankers industries as well as partner of Yangming in Yangming Napoli Srl, a shipping agency representing the interests of Yangming Line in Napoli. Marinter is also shareholder of Magazzini Generali, a terminal operator company which has been granted by Naples Port Authority a 30 years concession on piers 27/28 (grain terminal Gesil ) and piers 42/43/44 (multipurpose terminal Napoli Terminal, company of which Umberto Masucci is the President).

Following the successful M.B.O. from Aon in late 2008 the aims of P.L. Ferrari over the last 12 months have been to re-establish the company as the pre-eminent independent P&I broker on the global market and to enhance yet further the unrivalled services that we are renowned for. That regained independence was celebrated in 2009 with our 50th anniversary celebrations held in Genoa, Naples and Athens. As the oldest specialist P&I broker in the market we are also the largest (in number of clients): a position that we treasure highly - our core principle is to keep our clients very much at the centre of our operation. That recognized, we also needed to build on our unique client offering to develop even wider our services and international profile.

Founded in the 1950s by Salvatore Cafiero, Scafi - Società di navigazione S.p.A. is today a leading company in Italy’s shipping industry. Scafi played a major role in two of the greatest success stories in the history of Italian ports: the development of the Port of Gioia Tauro, now the largest transhipment hub in the Mediterranean, and the transformation of the Port of La Spezia from a regional to an international port.
The group currently operates in Italy via its three subsidiaries, Rimorchiatori Riuniti Spezzini (La Spezia), Con.Tug (Gioia Tauro) and Carmelo Noli (Savona- Vado), with over 20 state-of-the-art tugboats.

ONI is located inside the Port of Napoli (Italy) where a large mechanical workshop fully equipped has been erected more than 60 years ago. This workshop has been furnished with important machine tools and equipments and employs high skilled and experienced personnel.
ONI SpA has been operating in the field of naval repairs since 1946. Its main activity is precision engineering and engine maintenance & repair.
ONI is licensed by MAN Diesel & Turbo – company leader in big 2 and 4 stroke engines building We give a brief list of our normal activities:
- Repair and maintenance of diesel engines of all kinds and horsepower;
- Repair and machining of any kind of engine part; Turbochargersoverhaul;
- Mechanical machining of large items up to 10 tons; Rotorsbalancing;
- Injectionsystemoverhauling;
- Pumps, compressors, valves, etc. overhauling;
- Maintenance of pneumatic and oil dynamic power systems, e.g. steering, anchor

The companyis owned by Fenelli’s family, from Genova and is a very dynamic reality and well know the problems of the ship-owners. From our location we can serve all South Italy area in less than 4 hrs, but our personnel is used to travel all around Italy and often abroad. We can also provide flying teams to carry out repairs during navigation.

Established in San Francisco in 1863, Orrick, Herrington & Sutcliffe is today a law firm of international renown with more than 1,000 lawyers in 23 offices across the United States, Europe, and Asia. Our clients worldwide include major industrial and financial corporations, commercial and investment banks, high-growth companies, governmental entities, start-ups and individuals.
Orrick, since the beginning, has dedicated itself to two interdependent goals: serving our clients and building an enduring institution. Our lawyers work together to pursue these objectives. We are proud of the service we have delivered and the firm we have built, and we are excited about our future.
Our offices are located in many of the world’s financial centers and other key commercial locations: Beijing, Berlin, Düsseldorf, Frankfurt, Hong Kong, London, Los Angeles, Milan, Moscow, Munich, New York, Orange County, Paris, Portland, Rome, Sacramento, San Francisco, Seattle, Shanghai, Silicon Valley, Tokyo, Taipei and Washington, D.C.
We are the first U.S. law firm to establish a Global Operations Center, located in Wheeling, West Virginia,

to provide 24-hour, seven-days-a-week technology, human resources, marketing, legal assistance and accounting services. To efficiently serve our clients, Orrick is organized into two divisions - transactional and litigation.