This book presents an innovative theory of liquid institutionalization at sea and explores the building blocks of this theory focusing in particular on institutionalization, blue governance arrangements, reflexivity and power. The book opens with an overview of stability and change in new institutional theory before moving on to discuss liquid institutionalization in more detail. The author applies this approach to three different cases: Arctic shipping; deep seabed mining; and transboundary regionalization in Europe. For each of these cases the book describes the emerging blue governance arrangements, the type of liquid institutionalization and the consequences this has for power and reflexivity.