- Jurisdiction — Precedent — Arbitrators — Statehood, jurisdiction of states, organs of states
This chapter presents empirical data on the vanishing commercial trial and the flight to arbitration in general, and more specifically in the maritime industry. It discusses the consequences of the trend towards the privatization of dispute resolution for the maintenance of law in more detail. In response to the fading of domestic law, which results from a lack of litigation, it considers whether or not arbitral precedent might fill in the gap. It analyses London Maritime Arbitrators Association (LMAA) and Society of Maritime Arbitrators (SMA) awards published in 2014 for their potential as precedent. It shows that it is quite difficult to infer any ratio decidendi from them. Thus, the viewpoint expressed here is sceptical about the privatization of the maintenance of maritime law, be that domestic shipping law or a transnational lex maritima. Finally, the chapter considers options for private and public actors to secure the continued development of shipping law.