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The transport sector continues to feel the effects of the global economic downturn. Though fewer disputes are now arising, there is a backlog of cases being cleared and access to funds is still scarce.

Levels of litigation in the aviation sector remained high. In addition to the continuing impact of the economic downturn, the sector came under additional pressure due to disruptions caused by the volcanic ash eruptions, and now faces further challenges as airlines slash their profit forecasts due to rising oil prices and a potential trade war looms with the EU preparing to include foreign airlines in the emissions trading scheme. On a positive note, there is robust growth by Asia Pacific carriers and great potential for growth in Latin America and Africa, which has a number of London practices looking internationally. The biggest upset in the sector, law firm wise, has been from the announcement of the pending move of Barlow Lyde & Gilbert LLP’s longstanding leading aviation practice, to Holman Fenwick Willan LLP. On the boutique front, Gates and Partners continued to grow, opening offices in Brussels and Dubai.

After a quiet start to the year, as the new government came into force and the long awaited McNulty report became public, activity in the rail sector picked up; transactions included the sale of High Speed 1 (HS1), which was more successful than expected. The McNulty report calls for cost cuts of up to 30% by 2019, and the Secretary of State for Transport has confirmed that future rail franchises will be longer, and that output-based results and larger incentives to entice operators to invest in infrastructure and other facilities will be key. These developments will feed into the upcoming franchise bids. Internationally, practices are still targeting infrastructure projects in the Middle East and India, where investment continues to grow.

Dispute resolution work dominated the news in the shipping sector. While new disputes arising out of the economic downturn have started to dry up, those which have failed to settle are now in the courts. Somali pirates continue to plague the sector, keeping a number of London practices tied up in negotiating the release of people, cargo and vessels, as well as giving rise to disputes over the allocation of liability. Ince & Co and Holman Fenwick Willan LLP continue to dominate the market, although the latter lost three partners to new start-up Campbell Johnston Clark. The number of boutique shipping practices is steadily growing, and appear to be thriving in the current climate.

The chapter no longer covers multi-modal work under a separate heading, but a number of prominent firms continue to have healthy practices in the area – notably Clyde & Co LLP, Holman Fenwick Willan LLP, Gateley, Barlow Lyde & Gilbert LLP and Hill Dickinson LLP.

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