The answer to that is that a huge volume of the water held in ice is currently ABOVE sea level (glacial ice for one) and when it melts, it will flow into the sea.
I'm not sure about icebergs/ice shelves though. Take an iceberg - 1/10 of the volume is above water and 9/10 below. If you melt the ice, will the 1/10 above simply cancel out the contraction of the 9/10 below?