Andrew Jackson advises SMS Towage on multi-million pound vessel purchases

Andrew Jackson advises SMS Towage on multi-million pound vessel purchases

Andrew Jackson Solicitors advised marine firm SMS Towage on several vessel purchases worth in excess of £19 million, as the East Yorkshire-based company continues to expand its fleet across the UK.

Rebecca Hardy of Andrew Jackson’s shipping and transport team advised SMS on the purchase of a new tractor tug, the Roman, equipped with two Deutz main engines capable of developing 3,500hp, together with the purchase of the Manxman and Marksman (pictured) vessels from the Dutch builder Damen.

Having previously operated the Manxman and Marksman under a lease hire agreement, SMS’s refinancing of the vessels takes its fleet to 18. These two vessels currently operate in the River Humber and in Portsmouth.

Gareth Escreet, managing director of SMS Towage, said: “The arrival and purchase of the two Damen tugs provides a clear message to our very supportive client base of our desire to provide modern towage assets of the very latest design, capable of safely handling the larger vessels, which visit the ports where we operate.”

“In recent times the Manxman has been utilised to berth large tankers and ore carriers on the Humber, whilst the Marksman has been used to assist the Royal Navy in berthing the aircraft carrier Queen Elizabeth.”

Escreet added: “We continue to be delighted with the advice and help we receive from Andrew Jackson’s shipping and transport team. Rebecca helped us overcome a number of complicated hurdles relating to the purchase of our latest tug the Roman, including some very difficult negotiations with lawyers representing the previous owners.”

“She also dealt quickly with the refinancing and subsequent purchases of the Manxman and Marksman, liaising promptly with the Registry Of Shipping & Seaman in Cardiff, ensuring a smooth transition of ownership.”

Dominic Ward, senior partner and head of Andrew Jackson’s shipping and transport team, said: “Andrew Jackson has worked with SMS Towage for over 20 years, so it is particularly pleasing that we have been able to assist our long-standing client with the purchase of these latest additions to their growing fleet.”

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Mark Dugdale

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