WHEREAS Article 13(3) of the Rules of Procedure provides that: “If the Parties agree to the stay of the proceedings, the Arbitral Tribunal shall order the stay of the proceedings.”

WHEREAS on 27 June 2014, the Parties jointly wrote to the Arbitral Tribunal and the Registry stating that: “The arbitral tribunal is hereby informed that the Parties to the dispute agree to a predetermined stay of the proceedings” and that “[c]onsistent with Article 13(3) of the Rules of Procedure, the Parties accordingly request the arbitral tribunal to order the stay of the proceedings, the duration of which shall be 60 days from the date of the corresponding procedural order.”

WHEREAS the Parties noted that their request for a stay of proceedings is “without prejudice to the rights and duties of either of the Parties under the United Nations Convention on the Law of the Sea.”