Under international conventions, the "salvor" is required to return the found goods to the original owner in return for a reward. Under international law, offshore oil rigs like the Deepwater Horizon are treated as ships, not real estate. International Waters Definition. And it (or the "State of the Operator") decides who should take custody of the wreckage once … Who Owns the Oceans? Under international law, a country has complete sovereignty over these waters and so essentially can do what it wants in terms of taking ownership, says Mr Mackintosh. The English Channel is approximated to handle more than 500 ships per day and hence is the busiest seaway. Additionally, the law of the high seas applies – it is part of international law. As a result of membership of the Common Fisheries Policy, we are now allowed to catch less than 20% of the fish that swim in British waters. They are beyond a nation’s reach, which means that no one “owns” them. Within the economic zones, national laws apply to the exploitation of resources and environmental protection. The answer, in the terms of international law, is defined by the United Nations Convention on the Law of the Sea (UNCLOS). 5.3.1 States nearest the scene of an accident in international waters shall provide such assistance as they are able and shall, likewise, respond to requests by the State of Registry. The UN Convention on the Law of the Seas states the different rights and regulations regarding specific nations’ rights to oceans. International waters, or the “high seas,” as they are sometimes called, are the areas of the ocean that don’t fall under any nation’s jurisdiction. The population around this water body is not evenly distributed; the English Shore is the most populous region. The very nature of the sea, untamed and unconstrained, begs the question: who owns the fish? ... it has remained the go-to body for policing of international waters, creating nautical policies, and more. The important towns around the English Channel have a population of more than 20,000 people each. The next logical question would be – where do international waters begin? But the masses of water above, and everything that happens in and on them, are also subject to legal regulations. The issue of who owns the oil and gas in the waters off Scotland's coast will be one which is sure to play a big role during the campaign ahead on the referendum in autumn 2014. The British-flagged oil tanker Stena Impero, which had been held off the Iranian port of Bandar Abbas for more than two months, set sail and reached international waters Friday, its Swedish owner said. The other 80% we have given away to … Per day and hence is the busiest seaway law, offshore oil rigs like the Horizon... 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