The International Chamber of Shipping (ICS), which represents over 80% of the world merchant fleet, has issued a new position paper on Arctic shipping. As the Arctic becomes more accessible, ICS has set out some key principles with regard to the future governance of Arctic waters. Offshore support vessel activity is already significant, while destination shipping is anticipated to grow as the extraction of energy and raw materials is developed. Use of the Northern Sea Route is also a reality for a small but increasing number of ships in the summer months. ICS therefore stresses the importance of Arctic nations respecting the United Nations Convention on the Law of the Sea (UNCLOS) and relevant IMO Conventions and Codes such as SOLAS and MARPOL.