Emerging Trends In International Arbitration: Post-Pandemic Consequences

International commercial arbitration has taken on a new lease of life since the COVID-19 pandemic began. Stable access to raw materials and reliable transportation, have become lingering challenges. The ensuing supply chain volatility has caused a myriad of unforeseen operational and financial difficulties, leading to an increase in complex international commercial disputes due to contractual non-performance; often described as an “Act of God”. Three of the hardest hit sectors are Energy, Maritime and Life sciences. The International Chamber of Commerce (ICC) recorded a 240% increase in value of disputes (cases) registered between January and October 2021 to US$184 million, compared with US$54.1 million the previous year.