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Dubai, UAE: The Emirates Maritime Arbitration Centre (EMAC) has continued bringing the maritime community together in its monthly breakfast seminars to discuss legal concerns within the maritime industry.
This week’s seminar took a look at Shipping and Technology – Blockchain and Beyond.
Addressing legal considerations in a changing digital environment cannot be ignored. It starts with understanding of what the digital changes are and how these affect the nature of how we conduct our business today.
Speakers, Dimitrios Vourakis, Managing Director of Curiositas and David Galea, Partner of Ince & Co. focused on maritime electronic platforms, automation, smart contracts, internet of things and artificial intelligence.
“Clearly the shipping industry is receptive to new innovation. While frontier technologies may see the majority of the industry being reticent about mass adoption, shipping companies need to have a watching brief as technology develops, improving efficiencies and cutting costs on a more scalable basis. While most need not be at the forefront of technology development, ignoring technological advancement will have a significant cost at a time where people cannot afford to lag behind their competitors,“ according to David Galea, Partner at Ince&Co.
“At EMAC we keep up with key discussions that are taking place within the maritime sector. Technology is advancing and even at EMAC, we are developing an e-arbitration system to support a paperless process”, said Mr. Majid Obaid bin Bashir, Vice Chairman and Secretary General at EMAC. “It is interesting to see how technology is embraced by the industry and to better understand what this means in the industry for the future.”
EMAC continues its breakfast seminars throughout the year, with the next session scheduled for November 11th as the first seminar to kick start the Dubai Arbitration Week 2018.
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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
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