Arbitration was the preferred dispute resolution forum for the shipping industry since back in Ancient Greece. Today, arbitration clauses are standard in most maritime contracts mainly because the parties are in need of specialist maritime arbitrators to resolve specific maritime disputes and an arbitration award can be enforced in many more jurisdictions than any judgement made by a national court due to the wide application of the New York Convention on the Recognition and Enforcement of the Arbitral Awards.
For instance, in London, maritime related arbitrations outnumber non-maritime commercial arbitrations. The numbers of ad hoc arbitrations conducted under the Terms and Procedures of the London Maritime Arbitrators Association (LMAA) consistently exceed the caseloads of international arbitral institutions. In 2018, the LMAA’s estimated total number of references (1561) was exactly equal to the sum of the International Chamber of Commerce’s (ICC), London Court of International Arbitration’s (LCIA) and the Singapore International Arbitration Centre’s (SIAC) new cases added together.
Özcan Legal, during the entire period of operational and other shipping activities works with its clients and assists them to prevent any maritime dispute. In case where there is a dispute, our experienced team acts as a counsel to protect the interests of its clients in maritime arbitral proceedings.
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