Research by law firm HFW has found that London continues to dominate the market for international maritime arbitration, accounting for more than 80% of all cases globally.
London handled 1,737 maritime arbitrations in 2019 – up 14% on the previous year – which equates to around 83% of all international maritime arbitrations that year, according to HFW’s analysis of data from major arbitral institutions around the world.
Singapore and Hong Kong – London’s two strongest competitors – trailed with 229 and 124 international maritime arbitrations in 2019, respectively.
Craig Neame, a partner at HFW, commented: “Credibility and trust in London’s arbitration centres remain high amongst international parties – the London Maritime Arbitrators Association accounted for 96% of all international maritime arbitrations globally in 2019.”
Singapore and Hong Kong remain attractive to companies in Asia, and in recent years the UAE has launched the Middle East’s first dedicated maritime arbitration centre – the Emirates Maritime Arbitration Centre – and the Nordic Offshore and Maritime Arbitration Association was established as an alternative to post-Brexit London for both maritime and non-maritime international disputes.