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Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
 Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime arbitration cases have not been realised, according to research by shipping law firm HFW.
Its research – now in its third year and led by the firm’s Craig Neame and Holly Colaço – found that London’s international maritime arbitration caseload of 1,730 in 2019 marked an increase of almost 14%, compared with 2018. The London Maritime Arbitrators Association (LMAA) handled the lion’s share at approximately 1,668 new cases (up from 1,483 in 2018), with the London Court of International Arbitration and The International Chamber of Commerce (ICC) making up the difference.
HFW does note that while there was a slight reduction in international maritime arbitration in London following the Brexit vote in 2017, London has retained its position as the dominant international maritime arbitration centre despite increased global competition.
“Comparing London’s arbitration caseload statistics for 2018 and 2019 with statistics from major maritime arbitration centres outside London shows the extent of London’s current dominance in the international maritime arbitration industry,” HFW says. “Credibility and trust in London’s arbitration centres remain high amongst international parties, with the city handling in the region of 83% of all arbitrations concerning international maritime disputes in 2019,” says HFW.
But London’s position as the maritime arbitrator of choice in the past is not a guarantee of future success. HFW’s research over the last three years has “consistently indicated” that Singapore and Hong Kong are London’s strongest competitors in the global dispute resolution market, says the firm.
Global analysis
Singapore had an excellent year in 2019, recording the equivalent of approximately 13% of London’s maritime arbitration caseload, with 229 new international arbitrations shared between the Singapore International Arbitration Centre, the Singapore Chamber of Maritime Arbitration, the LMAA, and ICC. Meanwhile, in Hong Kong, the Hong Kong International Arbitration Centre dealt with approximately 44 new international maritime arbitrations in 2019, an increase from 38 in 2018. Combined with what The Hong Kong Maritime Arbitration Group terms as a “modest increase” in caseload from the 63 it recorded in 2018, Hong Kong handled the equivalent of approximately 7% of London’s caseload in 2019.
Meanwhile, HFW describes Paris, with its long-standing reputation in Europe for maritime dispute resolution, as a “forum worthy of note as a regional maritime centre”. Paris’ two arbitral institutions – the ICC and the Chambre Arbitrale Maritime de Paris – hosted approximately 43 maritime arbitrations in 2019, unchanged from 2018. This represents approximately 2.5% of London’s caseload for 2019. However, HFW notes that Paris has a significant ad hoc arbitration caseload that has not been included in its figures.
The UAE – described as “with ambitions of becoming a global maritime hub to watch” – continues to build up the first dedicated maritime arbitration centre in the Middle East, the Emirates Maritime Arbitration Centre. While caseload statistics are not yet available, HFW notes that it “has some way to go before it may be considered a challenger to London”. Scandinavia in is a similar position with its Nordic Offshore and Maritime Arbitration Association only established in 2017.
In the US, The Society of Maritime Arbitrators, the Maritime Arbitration Association and the Houston Maritime Arbitrators Association do not make their arbitration statistics public. And while China’s Maritime Arbitration Commission is described as “a thriving arbitral institution”, it invariably handles mostly regional maritime disputes as international maritime companies with no connections to China rarely choose the jurisdiction for dispute resolution.
Horizon scanning
Looking ahead, there are challenges to London’s dominance. The UK will conclude its EU transition period at the end of 2020 and the shape of the future UK-EU relationship still needs to be decided. Then there is the Covid-19 pandemic to factor in, with companies around the world starting to feel the bite of the resulting economic recession. HFW expects disputes and the use of arbitration to increase in these challenging times, as the “flexibility, faster resolution and potentially lower costs” offered by arbitration make it an increasingly popular choice for resolving maritime disputes.
HFW also expects London to continue to enjoy a “solid reputation” for international dispute resolution and to prosper as a maritime arbitration hub in 2020 and beyond. This positive outlook reflects the fact that the LMAA (which sees 95% of its caseload in London) has reassured its members that, with approximately 80% of its London maritime arbitration cases conducted using documents only, much of its current activity is business as usual and remains unaffected by Covid-19 restrictions.
The LMAA has also been able to conduct remote hearings using video conferencing software, allowing it to adapt quickly to the new reality. “It will be this ability to adapt that could be key to arbitration institutions continuing to attract maritime dispute cases in 2020,” concludes HFW.
HFW’s research for its The Maritime Arbitration Universe In Numbers report includes statistics from over 10 leading arbitral bodies. They are best estimates produced from the figures for maritime arbitrations both published and provided to HFW upon request. They cannot completely capture all maritime arbitrations as not all institutions provide full breakdowns by jurisdiction and sector and ad hoc arbitrations are difficult to track. Different arbitration institutions also record their arbitrations slightly differently, which makes comparative analysis of figures more difficult. A comprehensive explanation of the statistics is available here.
Source: Baltic Exchange
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- Salva Resources Pvt Ltd - India
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- Bulk Trading Sa - Switzerland
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- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
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- Bangladesh Power Developement Board
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- Goldman Sachs - Singapore
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- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
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- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Wilmar Investment Holdings
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- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Planning Commission, India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- The University of Queensland
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
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