SHIPPING LAW, BREXIT AND THE CITY OF LONDON
There can be no doubt that Brexit has removed a number of the features that made London very attractive as a centre of world shipping law, notably (but not exclusively) the portability of English judgments and their enforceability without question throughout the EU and the EEA. But this article argues that that is not the whole story. The removal of these advantages may not be as drastic or disastrous as some think. Against it must be placed the freeing of the English courts from the strict, and at times dirigiste, EU rules on jurisdiction, and from a number of other EU constraints. On balance, the conclusion is that Brexit may well turn out to be a gain, rather than a loss, for the shipping law business of the City of London.
Now that some of the dust has settled after Brexit, and we know a little more about what the post-EU legal landscape is likely to look like, it is worth asking: what are the prospects for London shipping litigators, and are they better or worse than before 11 pm on 31 December 2020? The point matters. In 2019, the last full pre-Brexit year, UK legal services exports were estimated at a figure just shy of £7 bn.1
Shipping-related services made up a noticeable proportion of that.2
Furthermore, it is also notorious that, while the UK has a substantial shipbroking and insurance industry, a great deal of the legal shipping work done in the City of London and elsewhere in England has no other real connection with the UK at all. It comes here by choice of the relevant parties, and can go away by the same means.