On 1 February 2011, the Seabed Disputes Chamber of the International Tribunal for the Law of the Sea handed down its first advisory opinion, namely, Responsibilities and Obligations of States Sponsoring Persons and Entities with Respect to Activities in the Area which concerns the responsibility and obligations of sponsoring states with regard to activities in the Area, i.e., the seabed and ocean floor and the subsoil thereof, beyond the limits of national jurisdiction. Significantly this advisory opinion clarified the obligations of sponsoring states concerning activities in the Area. It will also provide important insights into, inter alia, the inter-relationship between the obligation of due diligence and the precautionary approach, the preferential treatment of developing states, the liability of sponsoring states and obligations erga omnes concerning activities in the Area. Thus the ITLOS advisory opinion is thought to make an important contribution to the development of the deep seabed régime. Focusing on these issues, this contribution will seek to examine the significance of and questions concerning the advisory opinion of 2011.