Enhancing Dispute Resolution in Maritime Law: The Role of the New York Convention in Arbitration

With 170 members, the most often adopted basic legal tool in international arbitration is the New York Convention of 1958. The New York Convention has more validity and efficiency of arbitration as a means of resolving international commercial conflicts as long as the grounds given under Article V of the Convention are not invoked; hence, the contracting states are under obligation to take actions under the Convention to ensure and implement the recognition of arbitral rulings in line with the Convention. In maritime law, where most of the conflicts have foreign elements, this is clearly illustrated. Making sure the arbitration's verdicts lead to enforcement is crucial, so most of the concepts used there are more likely and straightforward than those used in ordinary litigation. This paper looks at the purpose of the New York Convention in maritime arbitration; it assesses its impact on the arbitration rules worldwide as well as on the evolution of arbitration in the marine industry.