In early September, the NSR Public Council along with Russian shipping stakeholders conducted a meeting concerning the accomplishing the goal of 80 million tons of goods shipped annually via NSR.
The vessel operates a commercial sailing from Shanghai and transports equipment from Chinese manufacturers for European customers. The company further informs that in summer, the navigation period from August to October, the NSR is short and fast for transferring cargo from Asia to Europe.
Notably, this route can potentially save approximately 27% of voyage time, on an average of 10 days, compared to other traditional routes. The carrier in particular, stated that the overall saving on the journey is estimated to be USD $330,000. Moreover, significant savings in fuel and increase of security were also reported since the vessel navigated through pirate-free regions.
In order to protect its interests in the Northern Sea Route, Russia has recently increased its military presence in the Arctic region with military infrastructure such as radars; missile systems and radio-electronic equipment, like a squadron of Su-34 multi-purpose fighter jets.
Moreover, DP World has signed a consensus with the Russian Direct Investment Fund; the ROSATOM; and Norilsk Nickel, among other global leaders in nuclear technologies and infrastructure, in June aiming to develop the Northern Sea Route.
The Northern Sea Route is a big challenge for those sailing in the area, as the ice and overall weather conditions, make it hard for vessels to easily voyage. Thus, vessels have to be specifically prepared when travelling through NSR.