Singapore International Arbitration Centre statistics reveal steady caseload and wider international reach

SIAC handled 625 new cases in 2024, with 91% being international. Cases involved parties from 72 jurisdictions, compared to 66 in 2023, setting a record and highlighting the centre’s global reach, also reflected in the geographical diversity of arbitrators’ appointment with 43 jurisdictions represented compared to 38 jurisdictions in the previous year.

South Korean parties emerged as the top users of SIAC, reflecting the institution’s growing presence in Northeast Asia. China, India and USA continued to remain among the SIAC top users.

There was a notable increase in engagement from Middle Eastern parties, reflecting SIAC's growing presence in the region. Last year, SIAC entered into a memorandum of understanding with the Abu Dhabi Global Market, the international financial centre of Abu Dhabi.

The total sum of disputes reached US$11.86 billion and SIAC issued 167 awards in 2024 balanced over various sectors including trade, commercial, construction, maritime, and corporate.

Johanne Brocas, an international arbitration expert at Pinsent Masons, said: "The latest statistics demonstrate SIAC’s expanding reach.”

“They also illustrate the continuing trust for the SIAC rules among global businesses,” she said.

“The SIAC rules, which were amended this year are among the five most preferred sets of arbitral rules globally and have helped solidify Singapore's position as one of the top five seats for international arbitration according to the latest White & Case and Queen Mary Survey.”

The latest statistics reveal a significant rise in the number of requests for expedited procedures and early dismissal. A higher number of those requests were allowed to proceed in 2024 compared to 2023, which Brocas said reflects SIAC’s commitment to swift and effective dispute resolution in response to a growing need from the users. In 2024, SIAC received 143 requests for expedited procedure compared to 94 in 2023, with 66 accepted compared to 41 last year.

Additionally, it allowed seven of the 13 early dismissal applications that were submitted to proceed, compared to only three out of nine that were allowed to proceed in 2023.

Requests for emergency arbitrators are also on the rise, with 21 registered in 2024, the highest number since 2010 when the procedure was introduced. Every request for emergency arbitrators’ requests was approved.

Women represented 35% of arbitrator appointments, an increase compared to 31% in 2023, and 73% of SIAC’s workforce is female, illustrating the SIAC’s commitment to diversity.