Quotation Marks

London has long held a reputation as a trusted and neutral forum for international arbitration cases

London retains crown as leading global centre for maritime arbitration, handling 85% of global caseload

London retains crown as leading global centre for maritime arbitration, handling 85% of global caseload

The report - The Maritime Arbitration Universe in Numbers – analyses the latest figures from leading maritime arbitration associations and institutions, including those not yet publicly available.

London handled more than 85% of the world’s maritime arbitration in 2022 according to the findings of a comprehensive new report published today by global law firm HFW, cementing the capital’s position as the overwhelming forum of choice for international shipping arbitrations.

  • London’s pre-eminent position in the maritime arbitration market holds strong heading into 2024, with over 85% of the world’s maritime arbitration throughout 2022 handled in the jurisdiction
  • Meanwhile Singapore, London’s closest competitor, handled the equivalent of approximately 5% of London’s caseload

London was revealed to have maintained its position as the global centre for international maritime and transportation arbitration cases in 2022, handling approximately 1,907 new cases. This represents an almost 12% increase on the 1,703 cases in 2021.

London’s closest rival Singapore handled 96 new references – the equivalent of 5% of the capital’s caseload - despite reports of the Asian state’s growing popularity as an arbitral seat. Paris, meanwhile, handled 36, approximately 2% of London’s caseload, and Dubai handled 0.4% of London’s caseload.

Maritime and transport arbitration featured prominently in London arbitration institutions’ caseloads in 2022, with the LMAA seeing the highest volume of references since 2016 and 37% of the London Court of International Arbitration’s referrals for arbitration falling within this sector, an increase from 14% compared with the previous year.

Commenting on the report’s findings, Michael Ritter, Partner at HFW, said:

“London has long held a reputation as a trusted and neutral forum for international arbitration cases, and with a history of maritime expertise, it is clear that it remains the favoured jurisdiction for maritime arbitration.

Figures from our research show that Brexit has not threatened London’s status as the most trusted jurisdiction for the resolution of shipping arbitrations, with the capital’s crown looking set to remain unchallenged going into 2024. Furthermore, London’s nimble responses to challenges such as the Covid-19 pandemic have only further solidified its position in the market.

While international competition is on the rise, with other key players such as Singapore and Hong Kong emerging from the rest of the pack, we do not expect to see any significant decline in London’s popularity in the years ahead.”

 

AdvertisementAdvertisementAdvertisementAdvertisementAdvertisementAdvertisement
Latest News

The Chancery Lane Project expands to the USA

Thu Sep 21 2023

Delay in Final Report of the Infected Blood Inquiry

Thu Sep 21 2023

Attorney General presents UK intervention in Ukraine case against Russia at International Court of Justice

Thu Sep 21 2023

Firms losing potential clients by failing to return their calls, research shows

Thu Sep 21 2023

Powers of attorney modernised as legislation allows CILEX Lawyers to certify LPA copies for the first time

Thu Sep 21 2023

Stark contrast between Government response to Post Office Horizon victims and Infected Blood

Wed Sep 20 2023

ACSO comments on the Justice select Committee report:

Wed Sep 20 2023

Campaigners win permission to appeal against Sizewell C Nuclear Power Station ruling

Tue Sep 19 2023

Pre-inquest review into the deaths of Reading murder victims, James Furlong, Dr David Wails and Joseph Ritchie-Bennett

Mon Sep 18 2023
FeaturedAudit reform: if not now, when?
Audit reform: if not now, when?
Browne Jacobson collaborates with LGiU on report highlighting “critical” role of local government to hit net zero
Browne Jacobson collaborates with LGiU on report highlighting “critical” role of local government to hit net zero
The battle for talent – promoting diversity
The battle for talent – promoting diversity
BSB publishes new guidance on barristers’ conduct in non-professional life and on social mediaSJ interview: Adrian Chopin
SJ interview: Adrian Chopin
Whose human rights are more important, yours or mine?
Whose human rights are more important, yours or mine?