General Interest

South China Sea – PCA announces ruling

On July 12, 2016, the Permanent Court of Arbitration (PCA) in the Hague delivered its long-awaited verdict on China’s claims to sovereignty over outcrops in the South China Sea (SCS).

According to the PCA, the vaguely defined “nine dash line” upon which Beijing depends heavily to justify its claims is worthless, as it has neither legal nor historic justification.

Meyer rescues Turku and plots a positive future

John Pagni examines what the sale of STX’s Turku yard to Meyer Werft will mean for Finland’s shipbuilding industry

“Turku thanks Meyer!” blared the front page headline of Finland’s business daily Kauppalehti the day after an August 4 press conference confirmed a deal had been struck between Korean owner-creditors for a German-Finnish partnership to buy STX Finland’s Turku yard.

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