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 Relocate their Yangon Office in Myanmar

Maersk Relocate their Yangon Office in Myanmar

Logistics ManagerMarch 14, 2019
ZIM Announce Major Investment in Ladingo

ZIM Announce Major Investment in Ladingo

Logistics ManagerMarch 5, 2019
Crowley Maritime have officially christened the U.S.-flag combination container/roll on-roll off (ConRo) ship MV Taíno in San Juan, where the company says their investments have ushered in a new era of world-class supply chain services in the U.S. mainland-Puerto Rico trade.

Crowley Christens LNG-Powered Ship MV Taíno in Puerto Rico

Danny GillFebruary 25, 2019
Maersk to Launch Captain Peter Virtual Assistant in 2019

Maersk to Launch Captain Peter Virtual Assistant in 2019

Logistics ManagerFebruary 8, 2019

Hyundai Merchant Marine Name New Vessel Universal Leader

Logistics ManagerFebruary 5, 2019
Ocean Network Express Vessel ONE GRUS Delivered to Kure Shipyard

Ocean Network Express Vessel ONE GRUS Delivered to Kure Shipyard

Logistics ManagerFebruary 4, 2019
MSC Support Gold Kiwi Fruit Exports in Italy

MSC Support Gold Kiwi Fruit Exports in Italy

Logistics ManagerJanuary 30, 2019

An Interview with Mr. Jeremy Nixon, CEO of Ocean Network Express

Danny GillJanuary 28, 2019
Grand Orion Becomes First MOL Operated Vessel to Call at Cambodia

Grand Orion Becomes First MOL Operated Vessel to Call Cambodia

Logistics ManagerJanuary 28, 2019
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