This is interesting, what the heck do you need it for..?
Anyway, from just browsing this, it seems that any ocean water within 200 miles of the land mass of the country is considered that country's water economically, and 12 miles out would be national waters which the country has an absolute right to it..
Roughly, this means that if this was to be passed in the US, we would be able to use the waters 200miles and inward as our own for fishing and sea mining and such, but international waters are uh... fair game?
Anyway, this also allows for you know, rulings on fair exploration and stuff, akin to the WTO. At least, thats how I'm reading it.