Freedom of the seas allows a vessel to sail freely even in the territorial waters of another country or state. From the time of the Chinese trading between Asia and Europe, it has played a key role in history and brought about an economic boon.

When a ship sets sail, there are many ports waiting for her goods. Free trade opens up markets to foreigners and encourages competition. Without free trade, domestic companies may have enjoyed monopolies or oligopolies that enabled them to keep prices well above marginal costs. Trade liberalization undermines that market power. The ocean is a big part of the free trade around the world. Every day, silk is imported from China, fruit from Mexico, spices from India, cocoa from Africa, and many more types of merchandise globally.

 

Ice melting (Green house) at the poles can be an advantage as it opens new trade routes for shipping and shortens distances between ports.