Throughout history, the seas and oceans have played a vital role in trade between nations and as a provider of resources and ecosystem services, thereby boosting development. As a result of economic growth and a rising population, the world needs more ocean resources and services. There is a strong interlinkage between clean and healthy oceans, sustainable resource use, and economic growth. Sustainable management and use of the worlds oceans are therefore crucial for our future. The World Oceans resources offer huge potential as a source of food, energy, and raw materials. However, current trends indicate that the ecosystem of the World Ocean is deteriorating. The ocean, and coastal waters in particular, are suffering due to mankinds actions, including increasing maritime activity and exploitation of the oceans resources. In order to achieve UN Sustainable Development Goal 14 on the conservation and sustainable use of the oceans, seas, and marine resources, coastal states need to work together to manage shared sea areas. All nations have raised their technological safety requirements for activities and projects in order to better manage environmental risks. The desire to preserve the ecosystem has also led to more stringent requirements and protection measures. How should a system ensuring the sustainable use of the ocean and its resources look? What measures should be taken to preserve and replenish natural riches? What role should bilateral and multilateral collaboration between nations and scientific communities play? What success stories could we learn from in this respect?