For this joint webinar, SCMA and Institute of Chartered Shipbrokers (ICS) Singapore brought together representatives from ship and cargo owners, and the legal industry, to discuss how arbitration can help parties resolve disputes amicably and maintain commercial relationships.
In commercial maritime disputes, a party often tries to “settle” the matter and in quite a few cases, either agree on an unfavourable settlement, even if they have a strong case or consider the financial and relationship costs of commencing arbitration as significant deterrents. There is a perception among the commercial maritime community that commencing an arbitration means the end of the relationship with the counterparty. Is this a correct perception or a misconception? Participants had the chance to hear from the actual business and legal professionals involved in the process.
This webinar explored the idea that commercial disputes are part and parcel of doing business. If resolved through arbitration in a cost-effective, efficient and fair manner, parties may achieve closure on their disputes and move on with future business dealings with each other.
Opening Remarks by:
• Capt. Subhangshu Dutt, Chairman, ICS Singapore Branch
• Jaimie McBain, Director, Oldendorff Carriers (Singapore) Pte Ltd & Member of SCMA Users Council
• Capt. Jaspreet Chhabra, Global Freight Operations Manager, Louis Dreyfus Company Freight Asia Pte Ltd & ICS SG Exco Member
• John Simpson, Partner, Stephenson Harwood & SCMA Board Member
• Prem Gurbani, Arbitrator, Mediator and Counsel & Panel Arbitrator of SCMA
• Punit Oza, Executive Director, SCMA & Vice-Chairman, ICS Singapore Branch