EMEA News
Dubai Creates Maritime Arbitration Centre
Dubai has set up a maritime arbitration centre to settle disputes involving marine trade in the Middle East using international standards, news site Gulf News reports.
The move is part of the emirate's efforts to build its maritime sector and become a significant global hub for the industry.
Arbitration had been identified as a key element of creating an effective cluster of services.
Dubai Maritime City Authority (DMCA) will draft marine laws and regulations for disputes occurring in Dubai waters regarding sea shipping, fuel supply, and other issues that could demand arbitration.
The centre will handle matters including ships lease contracts, goods transport contracts, sale of used ships, ship building and repairing contracts, insurance and re-insurance policies, problems of marine collisions, marine aid and rescue, and disputes related to the settlement of marine losses.
DMCA has been working to launch new services and improve the emirate's maritime industry, including through a cooperative agreement with the Maritime and Port Authority of Singapore (MPA).
