Maritime arbitrations help chart the right course

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According to the World Port Rankings published by the American Association of Port Authorities in 2011, eight of the top 10 busiest ports in the world ranked by container traffic are located in East and Southeast Asia.

Ranging from Busan (South Korea), Shanghai and Ningbo in the north to Singapore in the south, Hong Kong is located midway along the chain of these Asian shipping hubs. It’s therefore little wonder that Hong Kong is a key player in the region’s maritime activity, and that helps to explain why it is the preferred Asian forum for the resolution of maritime disputes. While giving an overview of the nature of maritime transactions in the region, an analysis of maritime cases filed with the Hong Kong International Arbitration Centre (HKIAC) also serves to highlight some peculiarities of maritime arbitration that may be of benefit for parties and their counsel to note.DDHKIAC

Crunching numbers

Of the 109 maritime cases handled by the HKIAC in 2012, a breakdown of the substance of matters in dispute indicates that 85% of cases concerned charter parties and 15% arose out of shipbuilding contracts or brokerage agreements. Among the charter party claims, 65% arose out of intra-Asia voyages and 35% out of voyages between Asia and Australia, South Africa or the US, representing an increase in the number of long-distance charter parties in dispute in proceedings handled by the HKIAC.

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作者:Ruth Stackpool-Moore、关重,分别是香港国际仲裁中心的总法律顾问和助理顾问

The authors, Ruth Stackpool-Moore and Guan Zhong, are managing counsel and assistant counsel, respectively, at the HKIAC.

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