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The global shipping industry in 2025 demonstrated resilience through active financing markets, strategic consolidation, and a steady pipeline of equity and M&A transactions.

We are pleased to present the Conyers Norway Bulletin for 2025. This edition highlights key developments impacting Bermuda-incorporated companies in the Norwegian market over the past year.

Welcome to the Conyers Global Shipping Digest which provides an overview of significant M&A, capital markets and financing mandates in the global shipping industry over the course of the past twelve months.

The Bermuda Government has passed legislation, with effect from 31 December 2018, requiring relevant entities based in Bermuda to comply with certain obligations in regard to economic substance in the jurisdiction.

This digest highlights some of the significant legal work carried out by Conyers' lawyers since the start of 2020 for our corporate clients in markets around the globe.