Norton Rose Fulbright advises on the financing for the construction of the first eco-friendly Ro/Ro Pax ferry to sail the Mediterranean

Global Press release - Business November 20, 2018

Global law firm Norton Rose Fulbright has advised a consortium of banks including UniCredit SpA, Mediocredito Italiano SpA and Banca IMI SpA on the financing to Italy’s Caronte & Tourist SpA for the construction of a new Ro/Ro Pax ferry. The vessel, named Elio, is the first liquefied natural gas (LNG) powered ferry to sail the Mediterranean.

Elio has capacity for 290 vehicles and 35 trucks and will be operating in the Strait of Messina, linking Sicily and the Italian mainland. Elio was built by the Turkish Sefine shipyard as part of the Gainn4mos Project, aimed at stimulating maritime transport with low environmental impact, as well as improving the so-called ‘Motorways of the Sea’ network in six EU member states (Spain, France, Croatia, Italy, Portugal and Slovenia).

Gennaro Mazzuoccolo, banking partner in the Milan office of Norton Rose Fulbright commented:

“The decision to invest in a 'green' ship represents an epochal turning point for the Italian market and underlines the ever-increasing attention that the maritime connection market is reserving for environmental protection, opting for the use of alternative fuels, such as LNG, which guarantee emissions ever lower in compliance with European transport legislation.”

The Norton Rose Fulbright team was led by partner Gennaro Mazzuoccolo.

CBA Studio Legale and Studio Legale Porzio assisted the borrower and owner and operator of the ship, Caronte & Tourist SpA, on the financing for and the construction of the new ship.

For further information please contact:

Felicia Kohn, Senior Business Development Manager, Norton Rose Fulbright Studio Legale
Tel: + 39 02 8635 941

Cristiana Santilli, Business Development Executive, Norton Rose Fulbright Studio Legale
Tel: + 39 02 8635 941

Notes for editors:

Norton Rose Fulbright

Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.

Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.

Norton Rose Fulbright operates in accordance with its global business principles of quality, unity and integrity, aiming to provide the highest possible standard of legal service in each of its offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see