Russian shipping company Sovcomflot has sent two more large-capacity, LNG-powered tankers through the Northern Sea Route. According to the company, the Aframax tankers Mendeleev Prospect and Lomonosov Prospect successfully completed eastbound voyages along the NSR from the Baltic port of Primorsk to China, on October 16 and 19, respectively, using only LNG fuel. The … [Read more...]
Russia Willing to Pay to Lure Shippers to the Arctic
(Bloomberg) --Russia wants to make its Arctic waters more attractive to shippers than the Suez Canal and could be willing to compensate for potential risks to make that happen. President Vladimir Putin has made development of the Arctic one of Russia’s top long-term priorities and huge projects to export liquefied natural gas via the Northern Sea Route have already lured … [Read more...]
Joining CMA CGM, Hapag-Lloyd Rules Out Northern Sea Route Passages
Hapag-Lloyd has ruled out sending its ships through the Northern Sea Route for the foreseeable future despite faster transit times, joining rival CMA CGM in shunning Arctic shipping due to heightened environmental risks. Hapag-Lloyd’s Senior Director Sustainability, Jörg Erdmann, says the company has no plans to send ships through the Arctic shipping until it can guarantee … [Read more...]
Russia’s Lukoil Sells Rare Arctic Crude Oil to China
By Shu Zhang and Olga Yagova SINGAPORE/MOSCOW, Oct 2 (Reuters) - Russian oil producer Lukoil has sold a cargo of Varandey Blend crude to a Chinese buyer with the shipment sailing via Arctic waters in an unusual trade flow, according to industry sources and shipping data. Lukoil's trading arm, Litasco, sold the cargo to Chinaoil, the trading vehicle of state-owned CNPC, said … [Read more...]
Macron Calls on Shipping Lines to Shun Arctic Route
By James Regan and Irina Reznik (Bloomberg) -- French President Emmanuel Macron is calling on container lines to avoid using a new Arctic shipping route to protect the environment. Speaking at the start of the Group of Seven summit in Biarritz in southwest France on Saturday, Macron said France’s biggest shipping line, CMA CGM, has committed not to use the so-called Northern … [Read more...]