Vyacheslav Ruksha, ceo of Rosatomflot (a company of ROSATOM Corporation), explains how Europe-Asia energy shipping via Northern Sea Route is expected grow significantly as the next-generation nuclear-powered ice breakers clear the way for higher trade volumes.
New regulatory standards for Arctic ship operations must be agreed at the IMO, and not by individual nations, ICS has stressed at an Oslo summit.
The Northern Sea Route (NSR) offers “limited opportunities” to shipping according to a study by US think tank The Arctic Institute.
Russia has hit out at countries trying to introduce “unfeasible requirements” into the IMO’s Polar Code.
South Korea’s Samsung Heavy Industries (SHI) has won an order worth $440m to construct three ice-class shuttle tankers for Russia’s state shipping firm Sovcomflot.
Rosneft and ExxonMobil have discovered oil in controversial drilling operations in the Arctic.