The importance of marine and maritime policy can hardly be overstated in view of the fact that over 90% of world trade is sea-borne and the economic interests of developed, developing and emerging economies alike are all heavily dependent on international trade and commerce. What is perhaps not so readily appreciated by the world community at large including the captains of relevant industries such as shipping, fisheries, cargo and insurance interests, is that environmental issues and concerns are at the very heart of commercial growth and development. This is where the "marine" as distinguished from the "maritime" interests fit into the equation. Both are intimately inter-connected and co-related to the extent that policy development in the field cannot be achieved in a rational manner without the consideration of both these essential factors. This book attempts to bring together both these perspectives through the writings and contributions of several distinguished scholars in their respective fields of expertise.
The editor is hopeful that the contributions of these individuals will serve to enhance knowledge and interest in marine and maritime policy development and formulation among those involved in this highly specialised area of endeavour, be they government administrators, private sector executives and managers, practitioners, researchers or scholars of related persuasions. The term "policy" in this book carries a broad connotation referring to both policy that is primarily law based as well as policy formulated on economic and sociological considerations. Marine and maritime business, as a significant commercial activity in the world's economy, is heavily regulated by law. In many areas of marine and maritime affairs, the nexus between legal policy and the policy influenced by market forces as well as their mutual interaction is highly significant, especially viewed from a historical perspective.