16.3.2020

Finnish Defence Forces Squadron 2020 Project

We advised the Finnish Defence Forces Logistics Command in the Squadron 2020 project. Squadron 2020 is the Finnish Navy’s project that is aimed at replacing seven vessels that the Navy will decommission. These will be replaced by four modern corvettes. Rauma Marine Constructions Oy and RMC Defence Oy based in Rauma will construct four multi-purpose corvettes, called the Pohjanmaa Class, for the Squadron 2020 project. Saab AB from Sweden was selected as the  combat system supplier. The Pohjanmaa Class will form the backbone of the Finnish Navy’s capability and combat vessel fleet and is planned to remain in service until the 2050s. The total cost of the Squadron 2020 project is approx. EUR 1,300 million.

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We are acting as legal adviser to Stena Line on its acquisition of NLC Ferry Ab Oy (Wasaline), strengthening Stena Line’s position in the Baltic Sea and enabling it to take over operations of the ferry route between Umeå in Sweden and Vaasa in Finland. The acquisition further strengthens Stena Line’s position as one of the leaders in sustainability within the ferry industry and enhances the company’s access to alternative fuels whilst providing a strong intermodal transport link towards Gothenburg and Trelleborg, and onwards to the European continent. NLC Ferry, operating under the auxiliary name Wasaline, were owned by Kvarken Link, a company jointly owned 50/50 by the cities of Umeå and Vaasa. Wasaline is the world’s northernmost shipping company, operating daily passenger and freight services between Vaasa, Finland and Umeå, Sweden, and is the first carbon-neutral ferry operator in the Baltic Sea with its hybrid vessel, Aurora Botnia, which runs on biogas and batteries. Stena Line is one of Europe’s leading ferry operators, with 20 routes across the continent. The company is family-owned, was founded in 1962 and is headquartered in Gothenburg, with 6,550 employees and an annual turnover of 19.6 billion SEK. The transaction is conditional to the approval of the respective municipal councils of Umeå and Vaasa as well as customary closing conditions such as authority approvals. The completion of the transaction is expected to take place in the beginning of the year 2026. Castrén & Snellman is collaborating with CMS Wistrand, Stena Line’s advisor on Swedish law matters in connection with the transaction.
Case published 4.11.2025
We advised Aker Arctic Technology Inc, a company specialised in icebreaker design, in its acquisition of Bluetech Finland Ltd. Under the signed agreement, Aker Arctic and Bluetech transferred to the ownership of Arctic Marine Technology Group Oy, an entity established for the purpose of owning the companies. Arctic Marine Technology Group is owned by Finnish Industry Investment (Tesi) and ABB, the current shareholders of Aker Arctic. The completion of the transaction required the approval of the Finnish Ministry of Economic Affairs and Employment and the fulfilment of other customary closing conditions. Aker Arctic Technology Inc is a private company specialising in the technology development, design, engineering, special products, consulting and testing services for ice-going vessels and icebreakers. Bluetech Finland Ltd specialises in cruise, ro-pax and cargo ship design, offering engineering services for ship owners, shipyards and marine suppliers.
Case published 26.6.2025
We advised Gasum in a Joint Venture project concerning the construction and chartering of a new LNG and bio-LNG bunker vessel. The vessel called Celsius will serve Gasum’s customers starting 2027. The investment is part of Gasum’s strategy to secure the availability of LNG and bio-LNG to its customers in the Northwestern European area as demand increases in the coming years. The vessel is owned by a joint venture between Gasum and the Swedish shipping company Sirius Shipping. The vessel is being built by RMK Marine in Istanbul, Turkey. Gasum is a Nordic gas sector and energy market expert. Gasum offers cleaner energy and energy market expert services for industry and for combined heat and power production as well as cleaner fuel solutions for road and maritime transport. The company helps its customers to reduce their own carbon footprint as well as that of their customers. Sirius is a Swedish shipping company founded by the Backman family. Sirius operates 11 product/chemical tankers and 2 LNG tankers and has a further 3 product/chemical tankers under commercial management.
Case published 11.3.2025
We assisted Finnish Climate Fund in junior financing to the shipping company Meriaura for their fleet renewal programme to support the adoption of low-carbon shipping solutions. Meriaura has commissioned two bio-oil-powered hybrid cargo ships with a tonnage of 6,750 from the Royal Bodewes Shipyard in the Netherlands. The ships can achieve emissions reductions of up to 98 % compared to traditional cargo ships powered by fossil fuels. In the emission-intensive freight industry, more efficient vessels powered by renewable fuels have the potential to lead the way to emissions reductions across the sector. Meriaura is a Turku-based maritime shipping company that specialises in the sea transportation of industrial products, raw materials as well as demanding special cargo. The company’s cargo ships operate in Europe, mainly in the Baltic and North Sea. The Finnish Climate Fund is a Finnish state-owned special-assignment company. Its operations focus on combating climate change, boosting low-carbon industry and promoting digitalisation. By the end of December 2023, the Climate Fund has made 24 investment decisions totalling 178.9 million euros.
Case published 26.6.2024