Monko highlighted that Arctic shipments during the first nine months of 2019 are equal to 23.37 million tons, adding that by the end of 2019, the volumes are most likely to reach 29 million tons. The shipping volumes show a 40% increase, in comparison to 2018's volumes, as Arctic Toda.

Recently, Yamal LNG announced that its shipments through the Northern Sea Route have experienced an increase up to now for 2019, adding that during the third quarter of 2019, 15 LNG cargoes from the company’s Yamal LNG project were shipped.

COSCO is a key part of Arctic shipping, as during the first nine months of 2019 a total of 441,800 tons was shipped on the route, while Chen Feng, General Director of COSCO Marketing and Sales, said that this route is smooth and fast.

Moreover, Putin signed a law giving Rosatom a number of powers in the development of the Northern Sea Route.

The Ministry of Transport has published some figures noting that the shipments on the NSR will amount to about 26 million tons in 2019.

According to the Northern Sea Route Administration, by October 1, a total of 743 vessels had requested sailing permission on the NSR, which is similar to last year. In late September, the largest container vessel in the fleet of Russian carrier Oboronlogistics, Sparta III, successfully delivered cargo from China to Europe via the Northern Sea Route.

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The majority of vessels sailing through the NSR are mostly tugs and support and service vessels which take part in oil and gas-related activities.

Concluding, recently Hapag Lloyd, following CMA CGM's decision, announced that its vessels will not sail through the NSR because the particles produced by the combustion of carbon-based fossils and fuels contribute to global warming, which can in turn harm our ecosystems.