US Secretary of State Mike Pompeo is worried about Russia’s aggressive behaviour in the Arctic, while China’s actions should also be watched closely. This comes amid increasing divisions in the Arctic regarding global warming and access to minerals. However, Mr. Pompeo said that all were welcome to share in the Arctic’s wealth.
Northern Sea Route
Russia has turned to China seeking to agree on a collaboration to develop ports as well as other infrastructure in the Arctic. Namely, Russia aspires to partner with China to create a shipping route along the Northern Sea Route. This plan includes the development of new ports and other infrastructure, aiming to to increase cargo shipments across the ‘Northern Sea Route’.
A Memorandum of Understanding was signed between the Rosatom group and the Port of Hamburg Marketing, to strengthen and develop cooperation between the ports along the Northern Sea Route and the ports in the Hamburg Metropolitan Region. The two parties agreed to advance their exchange of information and experience, as well as joint design and implementation of international cooperation projects.
As the Arctic region continues to open, strategic competition drives more actors to look to the Arctic for economic and geopolitical advantages. In this context, USCG released its newest strategy to address its expanding role in the Polar Regions, in line with a growing demand for effective leadership and presence in the region.
Gazprom Neft, part of Russian oil and gas company Gazprom, announced launch of the world’s first ever digital Arctic-logistics management system, aiming to ensure uninterrupted year-round shipments of crude produced and to improve efficiency in logistics management.
In this video the Allianz Global Corporate & Specialty examines the risk impact of commercial shipping activity in Arctic waters. Namely, Captain Rahul Khanna says that the dangers that are risen while sailing in the Arctic can be a reason for companies not to choose this route. Captain Khanna explained that on the major risks with sailing in the Arctic is what happens in case of an incident. If a ship experiences problems in this area, rescue operations would be very difficult to take place.
The Arctic is considered as one of the most challenging shipping routes. Being open only a few months, few ships have chosen this route for their voyages, worrying about the extreme weather. However, this seems to be changing, as lately more and more ships actually prefer the Northern Sea Route. Today, there is more traffic in this route, as journey times between Asia and Europe can be reduced by up to two weeks.
The Russian cabinet gave permission to 28 foreign-flagged vessels to transport liquefied natural gas (LNG) and gas condensate via the Northern Sea Route, which runs along the Russian Arctic coast, according to the Russian government.
Russian gas producer Novatek plans to use nuclear icebreakers to keep the Northern Sea Route open all year long for its LNG. The Arctic is considered as one of the most challenging shipping routes. However, lately more and more ships actually prefer this route. The company plans to keep the Northern Sea Route open the whole year between 2023-2025. This will be achieved by using 100-megawatt-hour nuclear icebreakers.
There are five global shifts reshaping the maritime world and the industry has already started innovating in order to meet them. So, what the future of shipping will look like in 2025? Which are the implications for shipowners and crew right now and in the future?
Nigeria should find a solution on cadets' unemployment25/05/2019
US Navy sailors conduct firefighting exercise25/05/2019
Explaining High Seas Forecasts25/05/2019
Infographic: Open loop scrubber issue from the insurer's perspective24/05/2019
Fire safety in the spotlight: Discussing the aftermath of blazing vessels24/05/2019
Updates an implications of Vessel Incidental Discharge Act24/05/2019
Port of Houston sees 9% increase on tonnage, year-on-year24/05/2019
Port of Antwerp aims for more efficient road transport with two more night terminals24/05/2019
Tugboat attacked by pirates, released after being charged with piracy24/05/2019
Port of Antwerp becomes first port of call for S. America reefer service24/05/2019