New port fee will be imposed at the Port of Itaqui

The EMAP – Empresa Maranhense de Administração Portuária, port authority which runs the Port of Itaqui, in São Luís, Maranhão, Brazil has warned shipowners, charterers and their representatives that a new port fee will be imposed as from March, 1st, 2019.
The fee will impact local trade and shipping activities in all private terminals of the region.
This fee is BRL 0,44 p/ DWT and will be charged for ships that use the common navigable areas of São Marcos Bay to access the Ponta da Madeira Terminal (Vale), the Alumar Terminal and any other Private Use Terminal that may be installed in the region.
The legality of such fees has been questioned. Our team of the São Luís Office is already preparing a deep analysis of the situation.
Contact Promare | RC LAW for more details

Arc Legal expands Corporate team with new hire

Arc Legal Assistance (Arc Legal), a leading provider of legal expenses insurance (LEI) and assistance services provider in the UK and Republic of Ireland, has welcomed Kerry Knief as its new Senior Corporate Relations Manager.

Kerry joins Arc Legal with over twenty years’ experience in the insurance industry having previously worked for AXA Partners as a Senior Account Manager, managing key strategic clients, specialising in ancillary products.

Kerry’s new role will involve managing existing corporate relationships, with a focus on identifying growth opportunities with partners across Arc Legal’s ancillary product range.

Chief Commercial Officer, Peter Harvey commented;

“Further growth has prompted us to bolster our Corporate Relations team, and Kerry’s knowledge and experience in the ancillary products market makes her a great fit for us.”

“Kerry has a wealth of experience in the industry, and her appointment will help to ensure we continue to meet our growth ambitions for 2019 and beyond. She has a fantastic reputation in the industry and we are delighted to have her on board.”

Kerry Knief, Commented;

“I am very excited to be able to join the team here at Arc Legal, especially during this exciting period of continued growth and expansion. I am looking forward to hitting the ground running and contributing towards the continued success of the business.”

For more information about Arc Legal Assistance, please visit


Advisory excellence in Asia – empty words or finally a reality?

In an increasingly knowledgeable client market providing sophisticated, high-quality advice allows providers of wealth management services to differentiate themselves.

Typically, most private banks aim to achieve “excellence” using a structured advisory process: assessing a client over a number of elements, including risk profile, and developing a customised solution.

In Asia, however, client advisers rarely follow this process for two reasons: it is a young industry and the current incentive structures for the front-line staff.

Although the last financial crisis was an exceptional situation, it has brought into focus the need for a comprehensive client analysis as a cornerstone of high-quality advice.

In order to deliver suitable services a constant learning process is required, driven by both providers of financial services and the clients.

High-quality advice in rising demand

The demand for high-quality advice is made more acute as Asian clients are usually highly hands-on in making investment decisions compared to their European counterparts.

They are also generally more willing to take risks and are more receptive to innovative products.

Despite Asian clients continuing to taking their own decisions, the need for advice still increases, especially for the initial risk assessment.

The Asian market has several notable features that differentiate it from more mature ones.

Firstly, the largest proportion of assets generally remain with the first generation, and for private banks that means the demand for wealth planning services will increase.

Secondly, there is generally little distinction between business and personal assets, therefore an adviser who can offer solutions in both areas adds more value to their clients and can obtain a larger share of their assets.

These factors place high demands on client advisers and other wealth management specialists.

A few years ago, Singapore’s Institute of Banking and Finance installed occupational groups and corresponding standards of competence for wealth management.

Even so, while the foundations for implementing these requirements had long since been established in the form of the Wealth Management Institute, supported by government subsidies for training, the implementation of these standards is only slowly making headway in the industry.

In addition to the quality standards of advisers, the sheer availability of the required number of these trained specialists remains a key challenge for the industry.

Correct, timely decision making

The opportunities for growth in Asia remain enormous.

To take advantage of this, major adaptations to systems, processes, and change management approaches are necessary in order to successfully develop a business in a sustainable manner.

The correct use of expert knowledge will play a central role in the quick development and sustained implementation of solutions in Asia.

Many private banks still work with the “everything for everyone” approach, with no clear differentiation for client segments.

Advisers often have too many clients to be able to really focus. Inadequate processes and a lack of suitable systems compound this.

Furthermore, advisers require continuous support in the provision of advice to their clients, especially for cross-border activities, where the requirements change constantly.

In addition to the necessary and continuous advanced training, advisers must also be able to rely on an efficient infrastructure to assess their client’s needs and to develop robust solutions.

This can be an important factor, especially in Asia, for companies who wish to retain existing and attract new advisers.

Central to any change is a universal vision carried by every employee, regardless of their level.

Resulting initiatives need to be incorporated within a uniform strategic framework to ensure resources are effectively used, employees are committed thanks to logical and consistent communication, and the interaction between the headquarters and the Asian management team is optimised.

A shared vision also helps convince clients about the benefits of an ongoing relationship, as opposed to a pure transaction-oriented business.

Mario Bassi is managing director and Asia head at Solution Providers Singapore, Management Consulting


UK lawtech not yet disruptive, new research shows

Lawtech in the UK has a long way to go if it is to reach its potential, the Law Society of England and Wales said as it launched new research into the development and adoption of sector-specific technology.

In its Lawtech Adoption Report, the Law Society explores the UK’s burgeoning lawtech sector and highlights key developments in this area and what this means for the legal profession and the business of law.

Law Society president Christina Blacklaws said: “A range of drivers is accelerating development and adoption of lawtech, from an escalating need for efficiency, increasing workloads and complexity of work to client pressure on costs and shorter turnaround times.

“Some of the most notable growth areas are legal analytics, legal project management, governance and compliance and contract management.

“Lawtech in the UK is largely focused on efficiencies and automation rather than on delivering ‘new types of law’. As such it is less mature than other fields of digital disruption – such as fintech, where there is more funding and regulatory alignment.”

The business-to-business legal services market is the most mature, particularly within large law firms, where AI and machine learning-driven applications are ubiquitous. Some of the more established areas include collaboration tools, document management, IP management and e-billing.

The business-to-consumer legal market seems to be lagging behind. There is most traction in those law firms that are delivering large-scale commoditised services, where automation is principally all about driving efficiencies. For instance, chatbots, DIY law, robo-lawyers and triage tools are all becoming more common with a greater focus on the consumer experience.

“Our research found that law firms face barriers to adoption of many lawtech solutions that are fundamental to the industry, such as risks around compliance, the partnership and billable hours models,” Christina Blacklaws said.

“After several years of start-up activity, the sector is now ripe for a wave of consolidation and later stage funding. Adopting and pioneering new technologies will give firms a strong competitive advantage in a rapidly evolving legal services market.”

Maritime new PHOTO

Brazilian President announces the auction of 10 port terminals

The President of Brazil, Jair Bolsonaro, announced today that the Secretary of Ports, by the Federal Government, will lease 10 port areas in the first half of 2019, including 3 terminals in the Port of Cabedelo/PB. The auctions of 4 of these areas will happen in march 22th of this year.

Understand the investments:

The announcement of the lease of four port areas was published in the Official Gazette of the Federal Union on November 30, 2019, by Agência Nacional de Transportes Aquaviários (ANTAQ). The auction will be held at B3, São Paulo Stock Exchange. The projects, in which investments of R$ 199 million are foreseen, are part of the Investment Partnerships Program (PPI).

In accordance with the rules set forth in the announcement, the companies/consortiums must submit the written proposals on March 19th, 2019, so that on the 22nd of the same month the auction will be held. The winner will be the one who offers the biggest value, which will start in the auction at R$ 1.00 (one real).

Contact Promare | RC LAW for more details


Norton Rose Fulbright advises on six winning deals at PFI Awards

Norton Rose Fulbright advised on six winning deals of the year awarded at the annual Project Finance International (PFI) Awards.

PFI is a leading publication for global energy and infrastructure finance news, data and analysis.

Nick Merritt, global head of infrastructure mining and commodities, Norton Rose Fulbright, commented:

“Our team continues to advise on award winning transactions across the globe, demonstrating the reach and ability of our projects team. We look forward to an exciting year ahead for our clients working on yet more innovative deals. Congratulations to all involved.”

Anne Lapierre, global head of energy, Norton Rose Fulbright, commented:

“We have a long established network of lawyers advising on some of the most pioneering deals and these awards wins demonstrate our capabilities within the renewable energy sector. 2019 is set to be a busy year against a continuing backdrop of market and technological disruption.”

The award winning transactions:

Americas – Solar deal of the year – Enel Green Power Solar

Norton Rose Fulbright advised Enel Green Power S.p.A. (EGP), as sponsor, and three project companies as borrowers (Villanueva Solar, Parque Solar Don José and Parque Solar Villanueva Tres) on a $605m limited recourse financing of a 1GW portfolio of solar PV parks in Mexico comprised of: Villanueva I (470MW), Villanueva III (350MW) and Don José (220MW). Lead partner: Arturo Sferruzza and Hernan Gonzalez Estrada.

Asia-Pacific – Clean energy deal of the year – Kwinana

Norton Rose Fulbright advised leading investment firm, Dutch Infrastructure Fund (DIF), on the acquisition of a majority interest in the Kwinana Waste to Energy (WtE) plant in Western Australia. The Kwinana WtE plant is a landmark transaction as it will be the first commercial scale and project financed WtE facility constructed in Australia. Lead partners: Jo Crew and Raymond Lou.

Asia-Pacific – Infrastructure Deal of the Year – WestConnex

Norton Rose Fulbright acted for the successful joint venture comprised of Lendlease, Samsung and Bouygues, in connection with Stage 3A of the WestConnex project in Sydney, Australia. The WestConnex project is the largest toll road infrastructure project to ever be attempted in the Asia-Pacific, and will provide 33km of motorway, linking key sites and areas in western and south-western Sydney to the city and airport, and the overall project (consisting of all stages) is expected to cost US$40bn when it reaches completion in 2024. Lead partner: Mark Waddell.

Asia-Pacific – Solar deal of the year – Sunraysia PV

Norton Rose Fulbright advised the sponsor, Maoneng Australia, on all aspects of the development, construction, equity sale and debt financing of the 255MWp Sunraysia Solar Farm, near Balranald in Southern NSW. Lead partners: Raymond Lou, Rob White and Lisa Koch.

Europe – Transport Deal of the Year – Blankenburg Tunnel

Norton Rose Fulbright advised the sponsor, construction consortium comprising DEME, Macquarie and Ballast Nedam, on the €1bn Blankenburg Connection project in the Netherlands. It is the one of the largest and most complex PPPs, combining elaborate technical solutions and financial engineering to complete a missing section of Rotterdam’s road system, promising to improve significantly traffic around the busy port city. Lead partners: Daphne Broerse and Wouter Hertzberger.

Middle East and Africa – African Programme of Year – REIPPP 4

Norton Rose Fulbright advised Enel, through its subsidiary Enel Green Power RSA (EGP RSA), the Enel Group’s South African renewables company, on the multi-tranche financing facilities for a portfolio of five wind projects in South Africa. The portfolio totals approximately 700MW of capacity at an estimated value of approximately €950 million. Lead partner: Arturo Sferruzza and Jackie Midlane.