This brief update on recent developments and items of interest
in the shipping world includes:
- Extension of Australia's exclusive economic zone
- New Bill affects registrations of finance interests in
ships
- Refund guarantees for financing shipbuilding in China
Extension of Australia's exclusive economic zone
Following requests by Australia to increase the size of its
exclusive economic zone (EEZ), the United Nations found that
Australia's territory be extended by 2.5 million square
kilometres, an area 20 times the size of the United Kingdom or
twice the size of New South Wales.
International law recognises that Australia as a sovereign state
has jurisdiction over its territorial sea from the low water mark
of its coastline to the 200 nautical mile limit of its EEZ.
