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The focus of this chapter is to estimate the condition and composition of the global ocean economy by conducting a literature review and a review of secondary data. This chapter highlights the concept of the blue economy, and its tools and pillars which is a currently emerging issue among several countries across the world. Natural resources and biological systems, which are at the heart of the international ocean economy, form its capital. Its natural capital is based on renewable resources, such as the fishing industry and sea floor nutrients; ecosystems and ecosystem processes, that represent the interactions between living and non-living surroundings as a functional unit; and ecosystems and ecosystem processes, that are the interactions between the living and non-living surroundings as a system component. The blue economy, according to surveys and marine researchers, is a financial construct based on the advantages and values derived from the coastal environment. In this chapter, there is also discussion around general planning and the coordinated growth between the marine ecology, the ocean, and the coastal zone economic system. According to scientific research and assessments, the long-term governance of ocean resources requires interconnection across borders and industries, as well as a range of different collaborations and on hitherto unknown scale. In reality, striking a balance is challenging due to the increasing deterioration of ocean conditions as a result of industrial and human activities. These frequently cause problems, such as contamination, inappropriate fishing, and biodegradation. All of this indicates that the blue economy is formed from a number of interconnected industries that use the wealth of the ocean to drive their own economic growth and development.

Pages: 26

A blue economy is a long-term strategy aimed at supporting sustainable economic growth through ocean related sectors and activities, while improving human well-being and social equity and preserving the environment. With increasing recognition of the importance of the world’s oceans and coasts, and realizing that natural resources are declining, many countries, including Malaysia, are focusing on reassessing the value of oceans and coasts and actively establishing strategies to develop a sustainable blue economy. The blue economy has diverse components including established traditional ocean industries such as fisheries, tourism, and maritime transport, but also new and emerging activities, such as offshore renewable energy, aquaculture, seabed extractive activities, and marine biotechnology and bioprospecting. The World Ocean Summit in 2015 described the blue ocean as a sustainable ocean economy that emerges when economic activity is in balance with ocean ecosystems’ support to remain resilient and healthy.

Pages: 26

Industry targets for a global rise in aquaculture demand an increase in output over the next decade. Salmon farm operators seek to meet this need either by the establishment of new locations, or by the expansion of existing sites. Finding space for new sites can be challenging, due to interactions between them and with the surrounding environment. As a result, operators are looking towards more physically exposed areas in which to place sites. Parasitic sea lice pose a particular environmental challenge and public concern. Enhanced availability of host fish at farms can allow lice to reach much greater numbers than they would in the absence of farms. Operationally, threshold abundances are used to define when management action should be taken, but there is no agreed approach to determine whether a particular proposed development will present an unacceptable risk in terms of heightened sea lice infestation levels and consequent risk to wild fish. We demonstrate the use of biophysical models in assessing physical suitability and parasite risk for two hypothetical farm sites. In a broader context, we demonstrate how infestation pressure is likely to decrease with farm isolation, and to a lesser extent with wave exposure.

Pages: 42

Fish farming operators are seeking suitable offshore sites as an inevitable choice for sustainable and high-quality fish production. However, offshore fish farming has its challenges due to the relatively high energy environment with poor accessibility in the more remote sites. Nevertheless, a combination of fish farming and other marine activities are desirable from an economic viewpoint. The overall infrastructure and operational procedure will no doubt be more complex, and the increased functionalities will bring more risk and require more rigorous assessments for warrants and insurance coverage than solely fish farming activity. More research and development are therefore needed in this area.

Pages: 18

In recent years, lake and marine environments have been affected by unexpected and huge disasters caused by natural or anthropogenic factors such as climate change. Such degradation of the environment will inevitably have an unfavorable impact on human activity. However, it costs an enormous sum of money to restore, improve, or mitigate the effects of the disaster. It is expected to realize environmental risk finance to raise this huge cost. We report a practical theory that utilizes statistical, ecological, and financial models to allow the projection of challenges to water environment preservation under anthropogenic pressure. The key component of our theory is a physical-biogeochemical model that elaborates the mechanism of water environment adaptation, no matter whether it is an estuarine, inland sea, or lacustrine environment, to aggressive biotic and abiotic stresses in a deterministic fashion. Numerical simulations, which are based on future scenarios of meteorological variables generated by a stochastic time series model, allow us to calculate the likelihood that environmental risks materialize. Risk quantification enables environmental risks to be tradable in the financial markets and thus, we can cover any costs associated with them through a risk finance framework. Our approach is to propose ecosystem-based adaptations to such potential disasters within the scope of risk finance. A case study of Biwa Lake shows how such a cutting-edge theory has advanced the understanding of resilience to water environmental challenges and contributed to more informed decision-making about the blue economy.

Pages: 48

The blue economy works as a policy tool or sustainable marine economic development model that drives economic growth and creates jobs. Human civilization is indebted to the oceans from decade to decade since they are a vital source of food, energy, and minerals. Oceans act as primary media upon which global trade (for example, seaborne international trade) takes place. Being an ocean-based country, Bangladesh has immense potential to be an advanced country by the year 2041. Sustainable use of blue economic development must be ensured to achieve developed status. Lack of strong marine policy, weak ocean governance, and unsustainable use (for example, IUU fishing, marine pollution, haphazard tourism, and unplanned coastal development) can be a huge risk factors for the effective execution of the blue economy. Blue economic development should be in an eco-friendly way and a special focus must be on the conservation of the marine ecosystem. A blue economy roadmap is necessary to provide a comprehensive strategy for ocean-based sustainable development that brings together the economy, environment, and society, closely linked to the UN 2030 Sustainable Development Goals (SDGs). The shift to a blue economy will require profound and structural changes in the regulatory-management-governance policy process using the ecosystem-based Marine Spatial Planning method. For sustainable blue development, strong ocean policy and ocean governance must be ensured.

Pages: 25

The Central Indian Ocean Basin (CIOB) is one of the largest and richest polymetallic nodule-bearing areas in the world’s oceans. The basin has varied morpho-structures, sediments, and rocks and other materials that are ‘seeds’ for the growth of nodules through hydorgenetic and diagenetic processes. The abundance of 5kg/m2 of nodules on the seafloor, metal grade of 2% (copper, nickel and cobalt), and areas of low slope angles collectively make the CIOB a potential target for nodule mining. For more than four decades India has been carrying out a nodule programme that largely encompassed exploration and collection of baseline data for environmental impact assessment studies. As a contractor with the International Seabed Authority, India has certain obligations to fulfill prior to mining of the nodules. In this chapter, we provide a gist of the different investigations conducted by India in the CIOB and this is followed by processes developed for metal beneficiation from the nodules, technological progress that is underway to mine the nodules and the economic viability of mining the nodules. There exist a number of reports that pertain to the geological and geophysical characteristics of the CIOB, but the implementation of the blue economy has never been discussed with the seriousness that it deserves. Hence, we address this important concern and the ways by which India could execute the different sectors of blue economy towards a profitable and sustainable mining of the nodules.

Pages: 37

Blue Economy is a way of deriving the economic growth of a nation through its contribution from the ocean and coastal-based activities while assuring environmental sustainability and livelihood development. Sri Lanka is an island nation of the Indian Ocean with an Exclusive Economic Zone (EEZ) of approximately eight times its terrestrial extent together with a continuous coastline, where the concept of Blue Economy is vital for the development of the country. This chapter discusses the development and challenges of the Indian Ocean Blue Economy and opportunities for Sri Lanka, in the context of its relationship with the other nations of the region. In relation to the geographical significance as of the connectivity of the island to the east-west maritime route, where half of the world’s trade is taking place through this region, the country has had a long history of international maritime trading since ancient times. As reflected by the Linear Shipping Index, Sri Lanka shows its importance by being ranked fifth among the other Indian Ocean Rim Countries. Coastal waters of the island are rich in marine biological resources, indicated by more than six hundred species, while this diversity together with natural beaches and its tropical climate is of service to the Blue Economy through tourism. Coastal, offshore, and deep-sea fisheries of the country play a significant role in economic terms via value addition to national income, employment, and foreign exchange through exports. World capture fishery has reached its peak, leaving no space for expansion, however Sri Lanka has a greater potential to expand its mariculture. Sri Lanka has a great potential to expand the boundaries of its Blue Economy. Next to its technological advancement and transboundary issues, the country is yet to reap the benefits of its surrounding seas, and this needs a long-term strategy.

Pages: 26

Marine ecosystems represent some of the most heavily exploited ecosystems throughout the world. For example, coastal zones make up just 4% of the earth’s total land area and 11% of the world’s oceans. Healthy marine ecosystems are important for society since they provide services including food security, feed for livestock and raw materials for medicines etc. Marine ecosystems produce various resources that benefit humanity, and the seas and coasts are vital to the survival and well-being of a large section of the world’s population. As challenges such as land-use change, overfishing, climate change, the invasion of non-native species, and other anthropogenic activities have an impact on biodiversity. The demand on marine ecosystems and the resources they provide is increasing. International fisheries play a critical part in ensuring food and economic security around the world. Still, many fish populations are not managed according to scientific advice and best practices, a reality that is taking a toll on many important marine species. We need to protect the marine ecosystem by achieving a blue economy because it acts as carbon sequestration and provides us with oil, gas and minerals. It is a source of renewable energy, salt production, route for transportation and trade, facilitates tourism and a source of education and research. Export of fish, seafood, sea plants like algae, and the like, adds to the economy of the country. Therefore, to achieve a blue economy, some actions like control of wastage and chemical disposals, reduction of wastage, treatment of waste before disposal, research to save clean water, spreading knowledge of marine ecosystem management, and so forth, has been undertaken.

Pages: 24

The Indian Ocean with its four major ridge systems collectively forms the Indian Ocean Ridge System (IORS). The hydrothermal fields along these ridges, namely the Carlsberg Ridge (CR), Central Indian Ridge (CIR), South West Indian Ridge (SWIR) and South East Indian Ridge (SEIR) are slow to ultra-slow spreading ridges. The IORS are geologically, tectonically, and petrologically different, amongst themselves and with the global mid-ocean ridges. Unlike the other slow spreading and well-studied Mid-Atlantic Ridge, the number of hydrothermal vent sites that host seafloor massive sulfide (SMS) deposits is far and few along the IORS. Yet, in the future it may be viable to mine the SMS deposits because of their economic potential and need in hi-tech industries. We present an overview of the hydrothermal sites and associated SMS that occur along the IORS as reported by several researchers. The inception of and investigations of the IORS by India are detailed. This is followed by the importance of applying the paradigm of the blue economy and its various facets by India in the exploration, exploitation, and allied activities for the SMS resources. In the long run it is perhaps feasible to profitably recover the SMS with minimal harm to the environment by having various mitigation measures in place.

Pages: 32

According to its scientific merits, seaweed as an agricultural product currently has various uses including food, livestock feed, fuel, fertilizer, and multiple products with several forms. Due to population growth and climate change impacts, global food crop production is drastically decreasing. As a result, world food security is facing threats day by day. As an alternative food source, the demand for seaweed is increasing globally. But compared to developed countries, seaweed cultivation has not achieved much success in developing countries. Asia’s largest producers include China, Indonesia, and the Republic of Korea. Because of growing consumer awareness of the benefits of seaweed. Seaweed varieties, which are non-flowering, primordial sea algae with no roots, stem, or leaves, play a vital role in marine habitats. On the other hand, the main benefit from using microalgae for fuels is that it eliminates the need for farms to cultivate food supplies. This chapter also highlights the types and classification of marine algae, seaweed cultivation techniques and tools, and the differences in the functions among the Asian, African and other developed countries. Seaweed output (both cultured and wild) has surged in recent years, globally. It has a big stake in food production and meets global food demand. Seaweed also acts as a major tool for climate change mitigation and adaptation. As a climate change adaptation, seaweed lessens wave energy during storms and defends the coast. Seaweed adds oxygen to the ocean, reducing the risk of de-oxygenation. It provides habitats and food for crucial marine ecosystem components that have a significant effect on the climate. Seaweed is used to make biofuels, fertilizer, medicine, and nourishment for humans. In this review, we focus on the global scenarios and science behind seaweed farming. Seaweed cultivation may be adjusted to maximize climatic advantages while also improving the livelihoods of seaweed farmers.

Pages: 19

The deep-sea mining of mineral resources is moving forward into reality. This blue economy sector has attracted attention because of the discovery of deposits presenting significant amounts of metals of economic interest, such as nickel, copper-cobalt, and rare earth elements. The global transition to clean energy with a low-carbon economy has increased the demand for such metals, which serve as raw materials for renewable energy infrastructure and novel technology. However, knowledge gaps about life in the deep-sea, uncertainty and doubt about the methods and techniques of deep-sea mining and their potential risks and impacts on marine ecosystems are the main challenges facing commercial activities of these minerals. This chapter analyses the main opportunities and challenges facing deep-sea mining. For this reason, in this chapter, we used a Political-P, Economic-E, Social-S, Technological-T, Legal-L, and Environmental-E (PESTLE) analysis tool combined with a SWOT analysis (the Strengths, Weaknesses, Opportunities, and Threats) powered by a deep literature review of available data and information related to deep-sea mining.

Pages: 33

Within the last few decades, the industry of seafood production/harvesting has seen a massive uplift. Farm based seafood production is increasing day by day to meet the demand as it is becoming popular among consumers. Numerous aquaculture methods are there according to the conditions of the harvesting area and the particular species being harvested. These methods have their own pros and cons. The methods are playing a vital role in enhancing the blue economy. Seafood imports from the developing countries is also increasing. Countries like Bangladesh play a vital role in exporting seafood to the global market and making sure that the demand is fulfilled. After the maritime boundary dispute settlement of the Bay of Bengal, more windows of opportunity in this sector have opened for us. However, there is still a lack of sustainable management and production of seafood. Seafood for sustainable development will help Bangladesh to achieve sustainable production and to be an import hub for the whole world.

Pages: 18

In recent years, the ocean plastic waste problem has become a worldwide concern, especially after more and more people saw the picture that shows the straws stabbed into sea turtles’ noses or the dead whales with a massive amount of plastic packaging in their stomachs. The USA and Japan consume massive amounts of disposable plastic products every year, and most of the waste plastic products are exported to China instead of being recycled domestically. From January 2018, affected by China’s ban on waste plastic importation, the USA and Japan had to learn how to deal with waste plastic products domestically. During the G7 summit meeting held in Canada in 2018, participants adopted the ‘Blueprint for Healthy Oceans, Seas and Resilient Communities that outlines commitments related to resilient coasts and coastal communities’ to solve ocean plastic waste problems. Moreover, England, France, Germany, Italy, Canada, and the EU also signed on the ‘Ocean Plastic Charter’ to further strengthen plastic management. Meanwhile, it is noticeable that neither the USA nor Japan signed the charter. On the other hand, most ocean plastic waste was generated from China and Southeast Asian counties such as Indonesia, the Philippines, and Vietnam. Only with the advanced countries cooperating with developing countries can the ocean plastic waste problem be solved on a global scale. Moreover, since the microplastic waste problem has not been investigated thoroughly, the situation has not been revealed yet. Although Japan has tried to solve these problems by charging consumers for plastic bags and disposable containers, such issues cannot be solved completely by mere laws or regulations. This chapter will introduce residents’ waste discharging characteristics, their cooperation behavior towards waste plastic recycling, issues related to ocean plastic waste, advanced waste plastic selection technology, and the importance of environmental education. In fact, these are essential in achieving effective plastic recycling, and the lack of any single element of these would seriously damage its effectiveness.

Pages: 35

Marine pollution and ecosystem health are interlinked with each other. With the increase in marine pollution, the biodiversity and ecosystem health of the most oceans is being affected. The scientific research upholds that the world is rapidly recognizing the value of the blue economy. Concerns about the ocean and coastal regions have encouraged policymakers and academic institutions throughout the world to seek more and better understanding of the blue economy and ocean-based activity. Every nation makes significant decisions in terms of management strategies, ocean environment monitoring, expeditions and blue economy based product creation. In this chapter, these judgments are taken and carried out based on the current situation and future goals for overcoming the challenges of sustainable global blue economy in both developed and developing nations. Because some developing countries, there are some inconsistencies in perception on the sustainable blue economy, they still are needed additional dialogue, and discourse and to increase awareness to build the ocean-based economy, is required. This chapter also covers global marine pollution scenarios, current status of blue economy and ocean health insights, marine pollution sources and their impact on marine ecosystems and blue economies. Also, this chapter deals with marine pollution management approaches for guiding nations’ future plans, leading the world to a sustainable future, and strengthening the global blue economy in developing and small islands countries. There are several management ideas and alternative management options for the growth of the blue economy including identifying and stopping pollution, enhancing global interaction, evaluating and promoting developmental accomplishments, promoting ocean health development and the blue economy. Furthermore, in terms of the scope and richness of our research and assessment, we still have a long way to go.

Pages: 22

Seaweeds are a vital part of coastal ecosystems, which offer indispensable ecosystem services as well as socio-economic value. Seaweeds are a rich source of vitamins, minerals and other bioactive compounds, which have great prospects for use as health supplements. Seaweeds are distributed in complex environmental gradients on a smaller spatial scale. The standing stock of about 844 seaweeds is found to be 58,715 tonnes wet weight in the Indian coast. The commercial seaweeds belong to agarophytes, carrageenophytes, alginophytes and edible seaweeds. Currently, K. alvarezii is the only commercially cultivated species, which accounts for 30%, and the rest are Gracilaria sp, Gelidiella sp and Sargassum sp. These seaweeds are mainly harvested from the naturally occurring coastal areas of Tamil Nadu and Gujarat states. The major seaweed culturing methods that are followed by the farmers in the coastal regions of Tamil Nadu and the other parts of India are (i) the single rope floating raft method, (ii) fixed bottom long line/monoline method, (iii) bamboo raft method and iv) net bag method. In India, there is a strong need to expand coastal seaweed cultivation to an offshore large-scale farming. Currently, the major problems associated with the seaweed industry are overexploitation of raw materials, low quality of stocks and lack of labours. Besides, most seaweeds are prone to epiphytism, and they are colonised by epibionts such as bacteria, protest, algae and invertebrates. High-resolution hydrodynamic modelling should be carried out before and after constructing farming structures for higher productivity. Furthermore, surveys need to be conducted to identify the seaweed cultivation zone to promote livelihood activities in coastal areas, with advanced seaweed mechanized vehicles within large spatial scales to identify proper localities for large-scale seaweed culture.

Pages: 30

A marine regime is a determined set of instructions and organization of the marine environmental protection of mutually strengthening structures and processes for developing sustainable marine resources. This study seeks to evaluate the policy process of marine ecosystem functions and their institutional functioning to enhance the global blue economy. Specifically, the international rules governing the use of the oceans and seas, are known as the law of the sea. Further, maritime law is a mix of common practices and laws that have been adopted by maritime countries for generations. Perspectives of the overall blue economy and regional blue economies have been supported by many maritime regimes and polices in developing countries. This is to improve their trade policies to ensure the sustainable use of the ocean, seas and coasts for economic growth and to improve livelihoods and jobs, while preserving the health of the ocean ecosystem. In the 21st century, awareness and education will unquestionably continue to be the two most important ways to develop marine environmental protection. If these measures are not taken immediately and marine pollution continues, life on earth will suffer severely. The oceans are an integral part of all our lives and their protection and preservation is one of our greatest challenges. Implementing certain key strategies will help build socio-ecological resilience to climate change and ensure the continued, or improved, provision of functions and services from the ocean, especially for the most vulnerable coastal nations. The existing various laws, programs, funds, training, technical assistance, incentives, disincentives and other management tools for marine regimes and policies have to address non-point-source pollution of coastal waters. Ongoing monitoring is essential to assess the health of ocean and coastal ecosystems and detect changes over time. In this context, the proposed Marine Environmental Management and Adaptation Strategies (MEMAS) Model could be the pathway to building a marine policy regime for enhancing the blue economy from the global perspective to more regional aspects.