At a time when ships are increasingly navigating not only volatile seas but also a maze of sanctions, geopolitical tensions, cyber risks, digital contracts and rapidly changing regulations, the legal architecture supporting global shipping is being tested like never before. These challenges formed the backdrop to the 3rd Edition of the International Maritime Legal Conference & Awards 2026, hosted by Marex Media in association with Bose & Mitra & Co. on 26th August at PVM Gymkhana, Mumbai.
The conference brought together maritime lawyers, shipowners, insurers, P&I clubs, regulators and industry professionals to examine how law and commercial practice must evolve alongside a rapidly transforming shipping industry. With maritime insurance, sanctions, liability, documentation, dispute resolution, digitalisation and risk management occupying centre stage, the event offered a rare opportunity for legal and industry professionals to engage in a common conversation.
Opening the conference, Capt Kamal Chadha, MD, Marex Media, highlighted the profound transformation underway across shipping, driven by decarbonisation, alternative fuels, artificial intelligence, autonomous vessels, cybersecurity and increasingly complex sanctions regimes. He called for closer engagement between maritime professionals and the legal fraternity to develop practical solutions capable of supporting a safer, more sustainable and legally resilient industry.
Chairman of the Board of Advisors, Mr Wilfred C Pereira, set the tone for the discussions by pointing to emerging legal and commercial challenges arising from geopolitical disruption, insurance and regulatory change. He also drew attention to emerging subjects including nuclear cargo, vessel tokenisation and crisis preparedness, encouraging delegates to move beyond conventional thinking and focus on actionable solutions.
The keynote address by Mr Shantanu Bhadkamkar, MD, ATC Global Logistics, titled “Navigating Legal Horizons – Maritime & Allied Transport in Transformative Times,” emphasised the need for law to keep pace with increasingly fragmented supply chains and geopolitical uncertainty. Calling for risk-based legislation, disruption-ready contracts, harmonised multimodal rules and stronger insurance frameworks, he observed, “Law is simple; understanding the industry and analysing circumstances is the real challenge. Lawyers must partner with industry experts to build a fair, proportionate and calibrated legal architecture that addresses disruptions, strengthens supply-chain resilience, embraces digitalisation and ensures harmonised multimodal rules.”
Guest of Honour Mr Ash Mohomad, DDG (MSL), DGMA, outlined India’s evolving maritime legal framework and the implementation of five new maritime Acts addressing registration, education, labour, emergencies, salvage, digitalisation and transparency. “India’s maritime legal framework is undergoing significant reform, with new legislation addressing registration, education, labour, emergencies, salvage, digitalisation and transparency. These reforms aim to simplify procedures, strengthen regulation and improve ease of doing business across the maritime sector,” he said.
Chief Guest Hon’ble Chief Justice Kalpathi Rajendran Shriram (Retd.) called for continued dialogue between the judiciary, maritime industry and legal professionals as new forms of maritime commerce and risk emerge. Reflecting on vessel tokenisation, piracy, marine insurance, bills of lading, multimodal transportation, arbitration, liability and insolvency, he stressed that legislation must remain practical and industry-informed. “Maritime law must evolve alongside the industry, addressing emerging challenges in vessel tokenisation, piracy, insurance, multimodal transport and insolvency. New legislation must be carefully calibrated, practical and clearly understood, while drawing on industry expertise to create a fair and effective legal framework,” he said.
The first panel, “Maritime Insurance in India: Legal Challenges and Future Direction,” moderated by Mr. Wilfred Pereira, examined how India’s growing maritime footprint is being accompanied by increasingly complex insurance exposures. Mr. Harsh Buch called for stronger Indian maritime jurisprudence and a dedicated dispute-resolution mechanism; Mr. Aishwarye Dubey highlighted the need for flexible contracts and greater grassroots maritime awareness; Capt. A. Krishnan stressed rigorous sanctions due diligence across cargoes, beneficiaries and payment chains; Mr. Sanjay Mokashi highlighted geopolitical volatility, reinsurance capacity and the Bharat Maritime Insurance Pool; and Ms. Jayati Roy emphasised the need to build domestic underwriting expertise and regulatory capability, particularly in P&I insurance.
An AV presentation by Mr. Simon Kaye, Global Head of Reinsurance, NorthStandard, brought an international perspective on war-risk insurance. He described the unprecedented pressure created by conflicts across the Persian Gulf, Strait of Hormuz, Red Sea and Black Sea, noting that war-risk pricing can change rapidly as insurers reassess their exposure. He also highlighted increasing interest in government-backed schemes and reinsurance support as global markets respond to widening geopolitical risks.
The following expert lecture by Mr Suumit Madhu examined the legal boundaries of war-risk coverage, with particular emphasis on hull war, war P&I and excess war P&I. He urged shipowners to look beyond premiums and examine geographical exposure, policy gaps, contractual obligations and claims-handling arrangements before entering volatile waters.
The second panel, “Coverage in Conflict and Crisis Situations,” moderated by Capt. Naresh Kumar, focused on the operational reality of crisis decision-making. Mr. Muthu Jagannath advocated proactive contingency planning and “what-if” exercises; Adv. Ritesh Kaushik identified sanctions enforcement as one of the most unpredictable maritime risks and called for stronger contractual protections; Mr. Pradeep Kulkarni stressed the importance of timely decisions and coordination between shore and vessel teams; Mr. Sibesh Sen highlighted the changing boundaries of war-risk cover and the importance of resilience; Ms. Radhika Sharma emphasised preparedness, mock drills and documentation; while Capt. Harinder Singh stressed timely communication, vessel tracking, regulatory coordination and empowering Masters to make informed safety decisions.
The legal and commercial horizon widened further with Capt. Anand Chopra’s special session on the maritime carriage of nuclear material. He explained the stringent regulatory controls governing Class 7 cargo while highlighting opportunities arising from India’s nuclear energy ambitions, including private participation, small modular reactors and floating nuclear power plants. The session suggested that the expansion of nuclear energy could create a new specialised cargo opportunity for the shipping industry.
Capt. Vikas Pandey, Founder and CEO of Shipfinex, then explored vessel tokenisation as a potential new avenue for maritime finance. He explained how regulated maritime asset tokens could allow fractional participation in vessel economics, improve liquidity and widen access to shipping investments. Shipfinex is seeking to pilot the tokenisation of approximately 35 vessels with an estimated combined value of $500 million over the coming year.
The third panel, “Future-ready Legal Frameworks for Maritime Transformation,” moderated by Mr. Shivkumar Iyer, examined the legal architecture required for a digitally enabled and internationally competitive Indian maritime sector. Dr. Sanjay Bhavnani highlighted the potential of India’s new shipping legislation to attract investment and strengthen the Indian flag; Dr. Joshua Ebenezer stressed continuous sanctions screening across owners, vessels, banks and service providers; Mr. Ruchir Goenka welcomed reforms supporting vessel registration and Indian-flag growth while calling for effective implementation; Capt. Pankaj Kapoor advocated an Electronic Bills of Lading framework under MLETR; Mr. Manas Vaid highlighted GIFT City’s growing relevance to maritime finance; and Mr. Clarence Xavier called for a clearer legal foundation for transferable electronic records and digital documentation.
The conference concluded with a summary by Mr. Hari Narayan, Senior Partner, UMLC, followed by a vote of thanks from Ms. Delphine Estibeiro, Joint CEO, Marex Media, before the evening transitioned into the International Maritime Legal Awards 2026.
The awards recognised professionals and organisations across the maritime legal and insurance spectrum. Among the individual honours were Ms. Ankita Sen, Rising Star; Mr. Harsh Buch, Young Achiever of the Year; Adv. Yash Ayya, Personality with a Promising Future; Mr. Pradeep Kulkarni, Maritime Risk & Insurance Personality; and Dr. Sanjay Bhavnani, Excellence in Maritime Legal Ethics & Seafarer Welfare. Organisational honours went to VMT Legal, Renata Partners, Rex Legalis, Bose & Mitra & Co. and New India Assurance for excellence across maritime legal aid, admiralty law, alternative dispute resolution and maritime insurance.
The evening’s highest honour, the Lifetime Achievement Award, went to veteran customs and trade professional Mr. Jayyannt Lapsiaa, Managing Partner of U.M. Khona & Co., in recognition of more than four decades of contribution to the customs, trade and maritime ecosystem. Accepting the honour, Mr. Lapsiaa expressed his gratitude to Marex Media, saying, “I am deeply grateful to Marex Media for this incredible Lifetime Achievement Award. To receive such recognition from the maritime and trade community is a matter of immense pride, and I sincerely thank the entire Marex team for this honour and encouragement.”
By the end of the evening, the conference had made one point unmistakably clear: maritime law can no longer operate in isolation from technology, geopolitics, insurance, finance and commercial realities. As India seeks to build a stronger and more globally competitive maritime sector, the effectiveness of its legal framework will depend increasingly on how closely lawyers, regulators and industry work together to anticipate risk, resolve disputes and create rules capable of keeping pace with the sea change underway in global shipping.
Marex Media
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Strengthening India’s Maritime Insurance Ecosystem
“At a time when maritime trade is being reshaped by regulatory change, geopolitical uncertainty, emerging risks, technological disruption and sustainability imperatives, the Marex International Maritime Legal Conference & Awards 2026 provided a timely platform to examine the forces shaping the sector’s future.
Under the theme “Navigating Legal Horizons – Maritime and Allied Transport in Transformative Times,” the conference offered valuable perspectives on the priorities confronting India’s maritime insurance sector: strengthening legal and regulatory clarity; developing innovative, accessible and affordable risk solutions; advancing data and technology capabilities; expanding protection against climate and cyber risks; and building capacity to address complex and emerging exposures.
It was a privilege to contribute to these important discussions and share perspectives on strengthening India’s maritime insurance ecosystem while enhancing its competitiveness in an increasingly complex global environment.
The conversations also underscored the importance of collaboration among insurers, regulators, shipowners, brokers, legal professionals and technology providers. For India, resilience will depend on anticipating global change, investing in expertise and innovation, and aligning insurance solutions with the country’s expanding maritime ambitions.
The waters ahead may be uncharted, but with foresight, innovation and collaboration, we can turn uncertainty into opportunity and navigate the future with confidence.” – Ms Jayati Roy, Deputy General Manager, The New India Assurance Company Ltd