Piraeus to Become an Alternative Maritime Arbitration Centre
(Article by Dr. A. Tsavdaridis, published in the newspaper “Naftemporiki” on June 5, 2012)
IN THE CONTEXT of efforts to develop Piraeus as an international maritime center
providing high quality services to shipping, exclusively by private initiative, the Piraeus
Association for Maritime Arbitration Centre (PAMA) was founded in 2005. Its aim is to
transform Piraeus into an alternative centre for maritime arbitrations, which will be
carried out reliably, with high quality, lower cost and in less time. Association members
are prominent former judges, academics, bankers, maritime lawyers, technical experts,
freight forwarders, shipping companies and other personalities who have dealt with
various aspects of shipping. (International) arbitrations are governed by the UNCITRAL
Model Law on International Commercial Arbitration, as adopted by Greece and
according to the Rules of Maritime Arbitration adopted by the Association. The
Rules, along with standard arbitration clauses, the CVs of the members of the
Association and other information, are uploaded and easily accessible on the website
of the Association (www.mararbpiraeus.eu).
These Rules should be referred to by the arbitration clauses of shipping contracts and
especially charter-parties, ship sale and purchase and other agreements, in order to be
applied in the conduct of arbitration. They follow the most modern approaches on issues
of ad hoc arbitration, having taking into account the relevant rules of other Associations (such LMAA, SMA, SIAC)
which conduct maritime arbitrations. The main characteristics of the Rules are that
parties are free to elect their arbitrator or arbitrators, including foreigners, they are free
to be represented by counsel of their choice, including foreigners, they are free to choose
the language in which the arbitration will be conducted and the applicable substantive law
that will govern their dispute and they are even free to choose a location other than
Piraeus. If they agree to select a sole or third arbitrator, then the President of the
Association chooses from its list of regular members. The arbitration of the Association
is particularly attractive, due to its speed and competitive pricing that is significantly lower
compared to those of other established foreign centres. The shipping interests
engaged in coastal shipping (passenger), cruise (tourism) and activities of short sea
shipping (Mediterranean) may use the alternative services offered by the
Association. The arbitration clause of the Association has incorporated in repairs, sale
and purchase, chartering and other contracts, a trend that is continuing. The future goals of
the Association also include the organization, whether independently or in cooperation with
other associations, of conducting intermediation in the shipping disputes sector.
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