According to the same Daily Telegraph report:

Ocean temperatures have increased at least two miles below the surface, causing seawater to expand and levels to rise by 1.8 mm a year (seven hundredths of an inch) from 1961 to 2003.

At that rate, ocean levels will rise by a foot in 171 years. Ocean levels do indicate global temperature levels. The colder it is, the more water is locked up in ice on land; the warmer it is, the less water is locked up in ice on land. Moreover, the land freed up by retreating ice and longer growing seasons in Nortern climes far out weighs the trivial losses at the fringes.

Since the last ice age ended 18,000 years ago, sea levels increased by 400 feet, mostly in the first 12,000 years. Humanity, and life on Earth, prospered as the world warmed

How will our civilization fare when the next ice age comes? Most of Canada, all of the snow-belt states of the US, much of Europe, and much of Russia would be covered in ice, miles deep. There is a lot of ice to be made from 400ft of the world’s oceans. When it is spread on land, it covers a lot of territory and renders the land under it utterly useless. The grain basket of the world would be lost. The rest of the world would become more arid and less productive. The next ice age might yet prove Malthus right.