EverWind Terminals Canada on its C$50 million investment and financing of three escort tug vessels to support its green energy infrastructure

Our Vancouver office with support from Amsterdam advised EverWind Terminals Canada on its C$50 million investment in state-of-the-art lower emission tugboats for the Strait of Canso in Nova Scotia. Our offices advised on all aspects of the project, including supporting infrastructure, financing and shipbuilding agreements.

One of the largest private sector investments in the Strait of Canso in the last 50 years, the new tugboats will replace the existing fleet and will result in a reduction of greenhouse gas emissions, lowering the environmental impact of marine operations in the Strait. The tugboats were built by Damen Group, a Dutch defense, shipbuilding and engineering company.

The purchase of the new tugboats will support EverWind’s Point Tupper project with the transportation of green hydrogen and ammonia.

The Norton Rose Fulbright team assisted with the purchase and financing of the vessels which involved structured credit insurance provider Atradius, the Netherlands-based export credit agency and Damen.