As widely known, arbitration is the most efficient means of
modern alternative dispute resolution. As such, maritime
arbitration is deeply rooted in shipping practice through
arbitration clauses appearing in contracts or being voluntarily
adopted by the parties in other circumstances.
It is also a fact that in some countries maritime arbitration
has been facing some criticisms due to its high costs and/or the
time expended for the arbitral awards to become final. Even in the
countries where these criticisms are made, they have been assessed
to reflect a decrease, to a certain degree, in the efficiency of
arbitration as a means of dispute resolution, however never enough
to make it lose its precedence over court litigation in most, if
not all, jurisdictions as a more adequate tool to achieve a just
solution for controversies.
