The new Law of the Sea Opportunities for ocean industries

The Informal Composite Negotiating Text of the Third United Nations Conference on the Law of the Sea reflects the continuing shift away from a laissez-faire regime for the seas. The placing of large areas of the seas under national or international control would offer the opportunity for new developments in the exploitation of living and non-living marine resources, and for wholly novel uses of the seas, where investment was formerly insufficiently protected. However, this increased control would also result in the imposition of restrictions upon existing uses of the seas.