Northern Sea Route set to see more traffic
According to reports in the Barents Observer, Chinese shipping giant Cosco is ready to increase transit shipments on the Northern Sea Route though Russian Arctic waters.
The Norwegian publications said that Cosco's marketing chief Chen Feng, speaking at the Arctic Circle China conference in Shanghai, indicated that the route is smooth and quick and part of Cosco's strategy to serve the Polar Silk Road between the North Atlantic region and the Far East.
Whilst there was no indication of the number of voyages planned, the line pointed to possible savings of up to 10 days on a sailing between Asia and Europe via the Northern Sea Route, with all the associated cost savings.
Over the last few years, Cosco has become one of the leaders in transit shipments along the shipping route through Russian Arctic waters and is reported to have made eight voyages in 2018.