The Institute of International Shipping and Trade Law was established in 2000 as a specialist research and professional training centre within Swansea University's College of Law and Criminology. It promotes research and teaching of the highest standard in the fields of international shipping and trade law; and fosters co-operation with other academic institutions as well as professional, commercial, shipping, insurance and business organisations. It also houses the library for the Association of Average Adjusters. Over the last two decades, the IISTL has gained a worldwide reputation for its contribution to research, policy-making, professional training and teaching while maintaining close connections with leading maritime and international organisations, including maritime research centres at Dalian, Oslo, Rotterdam, Shanghai and Tromsø, along with prestigious entities such as the IMO, BILA, BMLA and the CMI. IISTL members have been actively involved in debates on various reformation aspects of shipping and insurance law, both at domestic and international levels. Some have served on working groups of inter-governmental organisations and provided legal advice to key NGOs and institutions. The IISTL operates a wide variety of professional courses for directors, managers and employees of shipping corporations, as well as a bespoke training programme for young solicitors working in the City Law firms. The IISTL also works closely with shipping organisations, such as the BIMCO, in organising professional training courses. Membership of the IISTL has grown considerably and it is proud to be one of the largest specialist research centres in Europe dedicated to shipping and trade law. It has a substantial research library of specialist materials available to IISTL members, PhD students and visiting scholars. The award-winning IP Wales, which raises understanding of Intellectual Property among Welsh businesses, operates under the auspices of the IISTL.