Precious Shipping and Sainty Marine settle newbuild contract dispute

Thai bulk carrier owner Precious Shipping has entered into a settlement agreement with Jiangsu Guoxin Investment Group, the parent of bankrupt shipyard Sainty Marine, on a newbuild contract dispute regarding the construction of eleven 64,000 dwt bulk carriers. Sainty Marine went bankrupt in 2016 due to a major financial crisis and it went into arbitration …

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