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Carriage of good by sea under a bill of lading has been the most popular arrangement for transporting goods by sea in the whole world. The rules governing it are going through a transformation due to changes in the transportation process, namely for containerisation. This work recognizes the dire need for a harmonized set of rules for carriage of goods by sea and looks at different major rules and what they offer for shippers and carriers and whether the UNCITRAL rules meet the interests of both parties. Practical application of uniform international carriage rules is analyzed in the light of national law governing carriage of goods by sea of Estonia as well as European Union legislation regarding shipping.