Free Trial

Russian Arctic Route Open for Summer-Autumn Navigation

LNG

Atomflot’s nuclear-powered icebreaker Vaigach took three vessels under escort on the first eastbound voyage of the summer-autumn navigation season via the Northern Sea route, the company said, cited by Bloomberg

  • Vaigach took the ships under escort near Cape Zhelaniya on July 2 and is escorting them to the East Siberian Sea. From there, the convoy will be taken by the nuclear ice breaker Sibir.
  • The ships will deliver fuel and construction materials to the Port of Pevek.
  • The opening up of the Arctic route will aid Russia’s LNG projects in the arctic such as Yamal to send cargoes to Asia and cut down significantly on shipping times.
  • A voyage from Japan to Europe takes just 10 days via the Northern route, compared to 29 days via the Cape of Good Hope and 22 days via Suez, according to the Arctic Institute.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.