Posted on: 3 August 2020
Two recent studies published have highlighted the leading position of London as the preferred place for the resolution of maritime disputes by arbitration.
The third annual report by international law firm HFW ‘Maritime Arbitration in Numbers’, which can be downloaded here) confirms that the number of arbitrations started in London in 2019, the 60th anniversary of the LMAA, exceeded those in its nearest competitors, Singapore and Hong Kong, by an enormous margin (especially given some questions that arise about the Singapore figures), continuing and consolidating a tradition which has been well established for many years. According to published statistics too, the number of awards published in maritime arbitration cases in London was many times that of all competitors combined.
The second report published by Lexis-Nexis is wider in scope but also confirms that London has a world leading position in commercial arbitration, including ad hoc arbitration conducted on LMAA Terms and Procedures. Again, in the wider commercial arbitration context, the numbers of LMAA arbitrations are significantly more than those administered by any international arbitration institution (including the ICC, LCIA, Stockholm Chamber of Commerce, SIAC or HKIAC). The report can be viewed here.
Commenting on the reports LMAA President Bruce Harris said: “These reports underline the continuing attraction of London maritime arbitration. The LMAA strives to have its members provide an excellent service and these reports suggest that it is succeeding.”