Ocean Carriers

Mitsui O.S.K. Lines Sign New Northern Sea Route MoU

Mitsui O.S.K. Lines Sign New Northern Sea Route MoU
Logistics Manager

A new Memorandum of Understanding was recently signed between Mitsui O.S.K. Lines, Ltd. and The Far East Investment and Export Agency observed by the Ministry of the Russian Federation for the Development of the Far East. The new agreement is for cooperation in the continued development of Far East Russia and the Northern Sea Route.

Mitsui O.S.K. Lines are of the part of the Yamal LNG Project, this project is a first large-scale energy project to use the Northern Sea Route for export cargo. Mitsui will provide their first ice-breaking LNG carrier to go into operation on this service route by the end of March.

The Arctic region is abundant with resources of natural energy, coal, oil and natural gas. Up until now the farming of these resources has been limited due to transport options in the region. Now due to the reduction in ice and the new designs and technology of commercial ice-breaking ships the Arctic’s resource are now commercially and economically viable.

Compared to the traditional route of the Suez Canal, the new Northern Sea Route offers many benefits for trades between Asia and Europe, the route is much shorter in total distance resulting in lowered transit times along with reduced CO2 emissions and overall costs.

FEIA General Director, Leonid Petukhov said, “We hope that MOL will be effectively using the Northern Sea Route for transporting cargos to Japan and other Asia-Pacific countries and jointly we will be able to attract significant investments into the Northern Sea Route infrastructure development. The Agency is ready to help MOL in implementing all its current and future projects.”

Alexander Galushka, Minister for the Development of the Russian Far East added, “One of our key goals is to create a model for the development of the Northern Sea Route as a global transit corridor between Europe and Asia. It is undoubted that this work helps to reinforce Russian-Japanese economic relations,”

More in Ocean Carriers

MAERSK Launch Instant Booking Confirmation

MAERSK Launch Instant Booking Confirmation

Logistics ManagerNovember 2, 2018
CMA CGM Acquires Containerships

CMA CGM Acquires Containerships

Logistics ManagerNovember 2, 2018
ONE Continuity Calls at the Port of Hamburg

‘ONE Continuity’ Calls Port of Hamburg

Logistics ManagerOctober 31, 2018
Jolt Energy Storage Technologies win Wallenius Wilhelmsen Orcelle Award

Jolt Energy Storage Technologies Win Wallenius Wilhelmsen Orcelle Award

Logistics ManagerOctober 22, 2018
Wan Hai Lines Becomes Member of the INTTRA Network

Wan Hai Lines Becomes Member of the INTTRA Network

Logistics ManagerOctober 22, 2018
MSC and TRAXENS Speeds Up Smart Container Deployment

MSC and TRAXENS Speeds Up Smart Container Deployment

Logistics ManagerOctober 22, 2018

Hapag-Lloyd and Ocean Network Express Agree for Bilateral Feeder Network Cooperation

Logistics ManagerOctober 19, 2018
MOL Announce Launch of Collaborative Focus Project

MOL Announce Launch of Collaborative Focus Project

Logistics ManagerOctober 19, 2018
APL Extend their Eagle GO Guaranteed Service to Asia and the Middle East

APL Extend their Eagle GO Guaranteed Service to Asia and the Middle East

Logistics ManagerOctober 9, 2018
LM is the leading source of logistics and cargo news within ASEAN and is regarded as one of the most authoritative sources of information. Our subscribers keep up to date with the latest logistics news, views, features and events within ASEAN and beyond.
AFL Real Logo

Airfreight Logistics is the air cargo professional’s number one provider of news and information in ASEAN and around the World. To keep abreast of all the latest news and for in-depth features visit our website www.airfreight-logistics.com

UpMedio

Subscribe to our newsletter!

© 2015 Logistics Manager | About Us | Advertise | Subscribe | Contact | thai Thai Version