Clifford Chance (CC) and Norton Rose have advised on the $100m (£50m) sale of iconic ocean liner the QE2 to Dubai World as the vessel with its own fan club sails off into the sunset to become a luxury floating hotel.

CC advised Istithmar – the real estate investment arm of government-owned Dubai World – fielding a team led by transactional shipping partner Paul Turner, who was assisted by senior associate Alex Denoon.