The Baltic Exchange joined the Singapore Chamber of Maritime Arbitration (SCMA) and the Institute of Chartered Shipbrokers (ICS) ASEAN Branch in Singapore on 4 August for a seminar examining the growing importance of force majeure in maritime contracts.

With geopolitical tensions and conflicts continuing to disrupt global supply chains, trade routes and energy markets, the seminar explored the challenges facing companies as they navigate increasingly uncertain commercial and operating environments.

Speakers, panellists and the moderator brought together legal and commercial perspectives, offering practical insight into how businesses can approach contractual obligations and dispute resolution when unforeseen events disrupt performance.

Szu Ker Ong, Associate Director, Escrow Services at Baltic Exchange, also gave a presentation on the Baltic’s escrow services, highlighting the role they can play in supporting secure transactions and providing practical solutions in the maritime sector. The Baltic works closely with arbitrators on escrow-related issues, helping to facilitate the effective handling of funds where disputes arise. 

The seminar provided a valuable opportunity for maritime and legal professionals to exchange views on an issue of increasing relevance to the industry, as ongoing geopolitical and market developments continue to test the resilience of maritime contracts.