Day: 19 April 2018

The Monegasque Cooperation held a major workshop in Niamey, Niger, from April 3 to 6, bringing together five patient associations, members of the Sickle Cell Disease West Africa-Madagascar network.

Participants were able to share their experiences and receive training on strategies and techniques to obtain further funding. Discussions also focused on the support of the associations for the dissemination of informative materials targeting the harmonised management of sickle cell disease, funded by Monaco, which will be launched on June 19 during the World Day dedicated to the disease.

On the sidelines, the associations visited the National Centre for the Control of Sickle Cell Disease, supported by the Prince’s Government, which monitors nearly 6,000 patients with the disease, 40 percent of whom are children.

Finally, the associations, accompanied by Mrs. Anne Poyard-Vatrican, deputy director of the International Cooperation department, were received at the National Assembly of Niger by the deputies of the Social Commission. The delegation was also welcomed, in a private audience, by the Minister of Public Health, Dr Idi Illiassou Mainassara.

The network “Sickle Cell Disease West Africa-Madagascar”, created in 2013 by the Monegasque Cooperation, brings together doctors and representatives of patient associations from six countries – Senegal, Burkina Faso, Mali, Mauritania, Niger, and Madagascar. It aims to better manage the disease and make it known to a wider audience.

Sickle cell disease, a hereditary disease of hemoglobin, is the biggest genetic disease in the world: 50 million people carry the sickle cell trait, according to the World Health Organisation, and it is estimated that one out of two children infected with the disease die before the age of five if they do not receive care.

Monaco-based Dynagas LNG Partners announced on Wednesday, April 18, that, following a strategic review of its financial profile and distribution policy, the Board of Directors has approved a plan to reduce the quarterly distribution on the Partnership’s common units to $0.25 per common unit from $0.4225 per common unit, or from $1.69 per common unit to $1.00 per common unit on an annualised basis.

The reduction will take effect on May 3, 2018, upon the payment of the common unit distribution with respect to the first quarter of 2018 to common unitholders of record as of the close of business on April 26, 2018.

Tony Lauritzen, Chief Executive Officer of the Partnership, said: “This decision by our Board of Directors to reduce the level of the Partnership’s quarterly common unit distribution is necessary to align the Partnership’s distribution level with its capacity to generate cash flow in the long term. Despite the material increase in the Partnership’s estimated revenue contract backlog over the last two years, we have experienced a decrease in operating cash flow and a weakened distribution coverage ratio (which is our distributable cash flow available for distribution in proportion to actual cash distributed) following our shift to longer term charters for the employment of our liquefied natural gas carriers, which provide us with greater cash flow visibility albeit at lower charter rates that provide attractive returns of capital.

“As the Partnership’s shorter duration time charter contracts at peak charter rates have expired or are approaching expiration, we have capitalised on our Manager’s operational track record and the versatility of the ice class LNG carriers in our fleet to secure long term employment contracts. During the last two years, the Partnership has been successful in securing a ten year contract for the employment of our 2007 built LNG carrier, Ob River, two fifteen year contracts for the employment of our 2013 built LNG carriers, Yenisei River and Lena River, an eight year contract for the employment of our 2007 built LNG carrier, Clean Energy and a three year contract for the employment of our 2013 built LNG carrier, Arctic Aurora.

“Today our average remaining contract term is 10 years and our estimated contracted revenue backlog is approximately $1.5 billion, which highlights our ability to secure long-term contracts in periods when the LNG shipping market has been highly competitive.”

Mr. Lauritzen added: “The Partnership’s Board of Directors believes that the new distribution level is in the best interest of the Partnership’s common unitholders as it aligns the Partnership’s cash flows with our cash payment obligations.”

Dynagas LNG Partners is a growth-oriented partnership formed by Dynagas Holding Ltd., its sponsor, to own and operate liquefied natural gas carriers employed on multi-year charters. The Partnership’s current fleet consists of six LNG carriers, with an aggregate carrying capacity of approximately 914,000 cubic metres.

The Villa Sauber (NMNM) is hosting an exhibition by Latifa Echakhch entitled ‘The Mechanical Garden’ until October 28, 2018: inspired by the tradition of romantic landscape, characterised by the representations of teeming nature and ruined architecture, “The mechanical garden” combines the distant memories of Monte-Carlo’s earliest days with the artist’s childhood impressions and memories.

Born in Morocco, Latifa Echakhch grew up in Aix-les-Bains where her father was employed at the Casino Grand-Cercle, which operated alongside a prestigious theatre, in many similar ways to the Opéra Garnier.

Latifa Echakhch made several visits to the Principality: she was inspired by a number of mythical places – such as Opera Garnier, the Villa Sauber and the Exotic Garden, but also collections of the NMNM, such as models of decor and automatons of Ms de Galea – to design an exhibition that brings into play our perception of time and space and indicates the possibility of a survival of nature in a post-apocalyptic setting.

As part of this exhibition, the NMNM presents Salon Geologique I, an installation of the artist Yto Barrada in collaboration with the designer Stéphanie Marin in the reading room – mediation area of Villa Sauber.

At the end of this exhibition, Villa Sauber will close for several years of work.

The Plenary Session of the 11th edition of the Economic and Social Council of Youth (CES) took place on Wednesday, April 18.

During the meeting, chaired by Didier Linotte, President of the Supreme Court and sponsor of the event, in the presence of Isabelle Bonnal, Director of National Education of Youth and Sports, and Michel Gramaglia, Vice-President of CES, thirty students presented and voted on their favourite projects.

One of these concerns the creation of a maritime line from Menton-Monaco-Nice: a “shuttle of the seas”, while others involved the use of roof spaces on public buildings for young people, amending legislation on the protection against smoking in the Principality, and the creation of a Humanitarian and Environmental Recreational Route.

Students enrol in this project on a voluntary basis and as part of an option at the beginning of the school year. Supervised by members of the CES and professors, they meet government and private officials to build their cases.

Monaco Marine recently welcomed the first client, M/Y Madame Kate, to its new facility in Marseille, superyachtnews.com reports.

The company says that the new facility – with a total dock space of 320 metres – will act as a convenient base close to the French Riviera for yachts up to 160 metres to make last minute stops for technical work and maintenance.

“More and more superyachts want to minimise downtime and our customers have requested that we supply a very fast technical solution to ensure that maintenance time is minimised and the shortest transition between guest turnover,” François Vila, marketing and communications manager at Monaco Marine, told superyachtnews.com.

“Thanks to this new installation, Monaco Marine can now prepare and welcome short maintenance periods with an adaptable capability on its facility corresponding to the specific needs of each client… We wanted to provide a solution for the market that did not otherwise exist for yachts over 100 metres.”

Monaco Marine Marseille joins the company’s existing docks at La Ciotat, Antibes, Beaulieu sur Mer, Monaco and Toulon. Until now, the company was limited to working on yachts up to 80 metres on the hard.