11JUN2019 - NEWS - Russia seeks to open its Arctic waters to world shipping

A consortium comprising DP World of the United Arab Emirates, the Russian Direct Investment Fund (a sovereign wealth fund), Rosatom and Norilsk Nickel have agreed to look into developing the Russian Northern Sea Route (NSR).

The first step in the program is to set up a joint working group to check feasibility and the best available commercial operations for using the Northern Sea Route. The parties have emphasised that, between them, they have the ability to operate in the Arctic. DP World is a global port operator, the sovereign wealth fund is capable of arranging financing for very large-scale projects and Rosatom is the operator of the world’s only nuclear-powered icebreaker fleet. Mining company Norilsk Nickel is already substantially active in the polar region and so has experience in Arctic logistics.

Published by Editor - www.Livebunkers.com at 11-Jun-2019 03:51:46 [UTC] , contact editor at editor@livebunkers.com