Andrew Jackson Solicitors advises Whitaker Tankers on acquisition of oil tanker

Andrew Jackson Solicitors has recently advised long-standing client, John H Whitaker (Tankers) Ltd (“Whitakers”), on its acquisition of the oil tanker FORTUNA II, now renamed WHITPROGRESS.

The transaction saw Hull-based Whitakers purchase the vessel from Prax Shipping III BV. Built in Turkey in 2009, the 86.71-metre vessel was previously registered under the Marshall Islands flag and has now been successfully transferred to the Isle of Man Flag.

Led by solicitor Rebecca Forder, the Andrew Jackson team advised Whitakers on all aspects of the purchase, which included carrying out detailed due diligence checks against the seller’s group and addressing the release of a mortgage registered in favour of a Taiwanese bank.

Mark Whitaker, managing director at Whitakers, said: – “The acquisition of WHITPROGRESS marks another significant step in our ongoing investment programme as we continue to strengthen and modernise our fleet. The expertise and support provided by Rebecca Forder from Andrew Jackson’s shipping team was invaluable in navigating the complexities of this deal, particularly around the vessel’s registration and mortgage release.”

Dominic Ward, senior partner and head of Andrew Jackson’s shipping & transport team, added: – “We are delighted to have assisted Whitaker Tankers with this acquisition, which involved a number of complex legal and practical challenges. Having worked with Whitakers for many years, it is always rewarding to support their continued growth and investment in fleet renewal.”