Shipping Insight: The maritime arbitration universe in numbers: will Brexit impact London's standing?
Looking back on the rather bumpy ride of the last few years, the maritime industry is taking stock. Global economic challenges have impacted shipping as the industry is faced with significant geo-political change, including the UK’s surprise vote to exit the European Union.
London has been at the centre of global maritime dispute resolution, but it has been suggested that after the Brexit vote the balance of power is shifting away from London to emerging maritime disputes hubs around the world.
After Brexit London arbitration awards will still be internationally enforceable in the same way they are now, under the New York Convention 1958. Companies arbitrating in London could theoretically also gain the right to use anti-suit injunctions to prevent attempts to start litigation in other EU countries in breach of London arbitration clauses.
Our analysis shows that in fact London remains far and away the most trusted jurisdiction for resolving shipping disputes.
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