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Abu Dhabi, UAE: In an effort to constantly raise the bar in bringing value to the maritime and legal communities, the Emirates Maritime Arbitration Centre (EMAC) hosted ‘When things go wrong in offshore supply vessels (OSV) and Rig Charters – making the best of a bad situation session’ on Monday 12 November as part of ADIPEC 2018.
As an interactive panel discussion, the session featured some of the leading maritime legal and commercial industry captains from the region and around the world, including Ian Henderson, Director, Clarksons Platou DMCC, Rania Tadros, Managing Partner, Ince & Co. Dubai and Richard Briggs, Board of Trustees, EMAC & Executive Partner, Hadef & Partners, moderated by Jon Elvey, a veteran in maritime arbitration and mediation.
Interpreting and managing the clauses in Charter party forms for OSV and rig charters early on, helps mitigate risk and can provide a safeguard against unwanted disputes and conflicts. These complex and high risk ventures seek to achieve maximum returns but many times have seen parties learn from the bitter experiences of past mistakes. The experience and understanding of the terms and conditions by the individuals executing the charter party is of vital importance. The panel discussion represented these experts and provided a practical insight to drafting clauses correctly.
“With 48 arbitrators, 23 mediators and 24 experts, at the Emirates Maritime Arbitration Centre (EMAC) each and every arbitrator, mediator and expert on our panel has a wealth of regional and industry experience. Inviting Jon Elvey, as part of the panel at ADIPEC, is another way of showcasing our commitment towards working and collaborating with only the best talents in maritime arbitration and mediation,” said Mr. Majid Obaid bin Bashir, Acting Chairman and Secretary General, EMAC.
“Since inception, the EMAC team has worked towards raising awareness of the benefits of arbitration across a range of sectors associated with the maritime industries,” said Mr. Obaid bin Bashir. “As a result, EMAC started receiving cases. EMAC will continue to be present at key industry events, and take the opportunity to further encourage industry players to include EMAC in their contract.”
Impartial and transparent, EMAC is the first specialised maritime arbitration centre to be established in the region. To find out more about EMAC and the services it offers, visit www.emac.org.ae.
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About Emirates Maritime Arbitration Centre (EMAC):
Emirates Maritime Arbitration Centre (EMAC) was established in accordance with Emiri decree No. 14/2016 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, in April 2016, with a formal launch of its services in November of the same year. Initially based out of Dubai International Financial Centre (DIFC), EMAC has its own legal identity and is financially and administratively independent.
EMAC was launched in response to the region’s growing maritime activity, the UAE’s ambitions to develop into the world’s largest maritime hub in the world by 2025, and the belief in the efficiency of the arbitration process. The first specialised maritime arbitration centre to be established in the MENA region, EMAC aims to position the UAE as a centre of excellence for maritime arbitration, adhering to best practice in line with international standards.
Impartial and transparent, EMAC works with organisations across the region, providing services for resolving maritime disputes - through arbitration, mediation and other dispute resolution processes. EMAC’s rules are built on the most up to date internationally recognised arbitration and mediation rules - they allow for emergency arbitration and fast-track arbitration, to meet market demand and address the sector’s need for fast and efficient dispute resolution.
By establishing a trusted global standard for maritime arbitration services in the UAE, EMAC aims to continue to promote awareness of local, regional and international dispute resolution best practices, and to further support the UAE as it develops into a world-renowned maritime destination.
For any further information, please contact:
Reka Sepsy
+971 (0) 55 220 6820
reka@auroraadvertising.ae
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