
Publication
Blue Bonds: Making a splash in the Capital Markets
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
Global | Publication | March 2025
On February 25, 2025, the Department of Energy (DOE) issued an Order Granting Request for Rehearing and Clarification and Modifying Order (Order 5233-A) (the Modified Order) clarifying that DOE will no longer consider ship-to-ship transfers of liquified natural gas (LNG) used as a fuel for marine vessels an “export” for the purposes of Section 3 the Natural Gas Act of 1938 (the NGA) when the receiving ship is located in US ports, US waters or international waters.1
However, DOE reaffirmed its position that LNG bunkering occurring in the territorial waters of a foreign country or foreign port will be considered “exports” for the purposes of the NGA.
This is a significant development for the US LNG market because the export of LNG is regulated by DOE under Section 3 of the NGA, requiring exporters to submit applications and wait for approval prior to conducting their activities. The DOE’s more narrow interpretation of “exports” set forth in the Modified Order could significantly reduce the regulatory burden placed on the use of LNG as a marine fuel and on the US LNG industry at large. Read our full article here.
Publication
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
Publication
We are delighted to be participating in Marine Money Week New York 2025. As one of the landmark events for the global shipping finance community, and with the global shipping and maritime industry at such a pivotal juncture, we look forward to catching up with clients and contacts to continue discussions around navigating the current challenges and opportunities.
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