Chinese shipyard Sainty Marine has been ordered by a local court to pay Nanjing Yahao Ship Manufacturing approximately $202,800 over the construction of four barges, a sum that the shipbuilder has managed to lower after a successful appeal.
Hong Kong has certain advantages as a maritime arbitration centre, said Hong Kong=based independent maritime arbitrator Danny Mok.
The tremendous influx of foreign investment into Myanmar has brought about the need for access to a reliable legal system that gives them proper recourse.
With the 30th anniversary of the Hong Kong International Arbitration Centre (HKIAC) this year, it is appropriate to look back at how the centre has been spectacularly fruitful for the practice of arbitration in Hong Kong.
Two senior officials of China’s shipbuilder Sainty Marine have resigned, shortly after a local court froze RMB300m ($48.4m) worth of assets owned by three major shareholders, including the two officials.
Singapore’s Otto Marine is defending a claim of around $8.88m against its wholly-owned Otto Ventures with regards to the acquisition and operation of two offshore vessels.
China State Shipbuilding Corporation (CSSC) has spelled out details on stamping out corruption following the completion of investigations made by the government’s central anti-corruption bureau.