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Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
 Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime arbitration cases have not been realised, according to research by shipping law firm HFW.
Its research – now in its third year and led by the firm’s Craig Neame and Holly Colaço – found that London’s international maritime arbitration caseload of 1,730 in 2019 marked an increase of almost 14%, compared with 2018. The London Maritime Arbitrators Association (LMAA) handled the lion’s share at approximately 1,668 new cases (up from 1,483 in 2018), with the London Court of International Arbitration and The International Chamber of Commerce (ICC) making up the difference.
HFW does note that while there was a slight reduction in international maritime arbitration in London following the Brexit vote in 2017, London has retained its position as the dominant international maritime arbitration centre despite increased global competition.
“Comparing London’s arbitration caseload statistics for 2018 and 2019 with statistics from major maritime arbitration centres outside London shows the extent of London’s current dominance in the international maritime arbitration industry,” HFW says. “Credibility and trust in London’s arbitration centres remain high amongst international parties, with the city handling in the region of 83% of all arbitrations concerning international maritime disputes in 2019,” says HFW.
But London’s position as the maritime arbitrator of choice in the past is not a guarantee of future success. HFW’s research over the last three years has “consistently indicated” that Singapore and Hong Kong are London’s strongest competitors in the global dispute resolution market, says the firm.
Global analysis
Singapore had an excellent year in 2019, recording the equivalent of approximately 13% of London’s maritime arbitration caseload, with 229 new international arbitrations shared between the Singapore International Arbitration Centre, the Singapore Chamber of Maritime Arbitration, the LMAA, and ICC. Meanwhile, in Hong Kong, the Hong Kong International Arbitration Centre dealt with approximately 44 new international maritime arbitrations in 2019, an increase from 38 in 2018. Combined with what The Hong Kong Maritime Arbitration Group terms as a “modest increase” in caseload from the 63 it recorded in 2018, Hong Kong handled the equivalent of approximately 7% of London’s caseload in 2019.
Meanwhile, HFW describes Paris, with its long-standing reputation in Europe for maritime dispute resolution, as a “forum worthy of note as a regional maritime centre”. Paris’ two arbitral institutions – the ICC and the Chambre Arbitrale Maritime de Paris – hosted approximately 43 maritime arbitrations in 2019, unchanged from 2018. This represents approximately 2.5% of London’s caseload for 2019. However, HFW notes that Paris has a significant ad hoc arbitration caseload that has not been included in its figures.
The UAE – described as “with ambitions of becoming a global maritime hub to watch” – continues to build up the first dedicated maritime arbitration centre in the Middle East, the Emirates Maritime Arbitration Centre. While caseload statistics are not yet available, HFW notes that it “has some way to go before it may be considered a challenger to London”. Scandinavia in is a similar position with its Nordic Offshore and Maritime Arbitration Association only established in 2017.
In the US, The Society of Maritime Arbitrators, the Maritime Arbitration Association and the Houston Maritime Arbitrators Association do not make their arbitration statistics public. And while China’s Maritime Arbitration Commission is described as “a thriving arbitral institution”, it invariably handles mostly regional maritime disputes as international maritime companies with no connections to China rarely choose the jurisdiction for dispute resolution.
Horizon scanning
Looking ahead, there are challenges to London’s dominance. The UK will conclude its EU transition period at the end of 2020 and the shape of the future UK-EU relationship still needs to be decided. Then there is the Covid-19 pandemic to factor in, with companies around the world starting to feel the bite of the resulting economic recession. HFW expects disputes and the use of arbitration to increase in these challenging times, as the “flexibility, faster resolution and potentially lower costs” offered by arbitration make it an increasingly popular choice for resolving maritime disputes.
HFW also expects London to continue to enjoy a “solid reputation” for international dispute resolution and to prosper as a maritime arbitration hub in 2020 and beyond. This positive outlook reflects the fact that the LMAA (which sees 95% of its caseload in London) has reassured its members that, with approximately 80% of its London maritime arbitration cases conducted using documents only, much of its current activity is business as usual and remains unaffected by Covid-19 restrictions.
The LMAA has also been able to conduct remote hearings using video conferencing software, allowing it to adapt quickly to the new reality. “It will be this ability to adapt that could be key to arbitration institutions continuing to attract maritime dispute cases in 2020,” concludes HFW.
HFW’s research for its The Maritime Arbitration Universe In Numbers report includes statistics from over 10 leading arbitral bodies. They are best estimates produced from the figures for maritime arbitrations both published and provided to HFW upon request. They cannot completely capture all maritime arbitrations as not all institutions provide full breakdowns by jurisdiction and sector and ad hoc arbitrations are difficult to track. Different arbitration institutions also record their arbitrations slightly differently, which makes comparative analysis of figures more difficult. A comprehensive explanation of the statistics is available here.
Source: Baltic Exchange
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Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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- The Treasury - Australian Government
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- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
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- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- The University of Queensland
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
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- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
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- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
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- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
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- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Australian Coal Association
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
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