Sainty Marine, Precious Shipping Go to Arbitration

first_imgzoom Cash-strapped Chinese shipbuilder Sainty Marine has entered into an arbitration proceedings with Precious Shipping before the arbitration court in London over the cancellation of a 64,000 dwt bulk carrier.The arbitration proceedings should decide upon whether the owner had the right to cancel the contract and whether the shipyard should return the advance payment it had received under the contract, a stock exchange filing shows.Precious Shipping cancelled the contract on March 30, Sainty Marine said, which had been hired by the shipping company to build fourteen 64,000 DWT bulkers.The two parties have been entangled in a number of disputes over the newbuilding series. In May 2015, Precious Shipping declined to take delivery of a 64,000 DWT bulker duo from the yard claiming that the vessels did not meet the fuel consumption standards set by the company. Later in September, the company cancelled  two more 64,000 DWT Ultramax bulk carrier newbuilds amid delivery delays.The financially-troubled shipyard has received an approval for restructuring by the Nanjing Intermediate People’s Court earlier this year and was given until April 17 to compose a restructuring plan.World Maritime News Stafflast_img read more

Empowering women key to achieving UN Millennium Goals – Migiro

Addressing an international conference in Jerusalem on women’s leadership for sustainable development, Ms. Migiro highlighted the “deep and unbreakable” connection between women and development, particularly in reaching the set of global anti-poverty targets known as the Millennium Development Goals (MDGs). “We know that achieving gender equality and empowering women is not only a goal in itself,” she told the participants, which included female leaders such as Liberian President Ellen Johnson-Sirleaf. “It is also a condition for building healthier, better educated, more peaceful and more prosperous societies.” Noting that one of the MDGs is specifically on gender equality and the empowerment of women, Ms. Migiro stressed that a gender perspective is “imperative” in the other Goals as well.The Deputy Secretary-General pointed out the disproportionately high incidence of poverty among women, as well as the fact that the majority of the more than 800 million adults around the world who cannot read are women. In addition, women are increasingly bearing the brunt of the HIV/AIDS epidemic.“Unless careful attention is paid to the discrimination of women across all MDGs, the achievement of the Goals will be jeopardized,” she stated, adding that greater efforts are required to combat extreme poverty, disease, illiteracy and gender discrimination around the world.She urged participants to use the unique opportunity presented by the conference to advance the common goals of empowering women and promoting sustainable development, both crucial elements in the “march towards the MDGs.” Jerusalem is the first stop on the Deputy Secretary-General’s current trip, which will also take her to the occupied Palestinian territory and then to Geneva. 19 November 2007Deputy Secretary-General Asha-Rose Migiro warned today that the pledges to slash poverty, hunger, disease and illiteracy by 2015, made by world leaders at the United Nations seven years ago, are at risk unless countries pay greater attention to empowering women and achieving gender equality. read more