shipping route through the Arctic
Russia and China are cooperating to operate a year-round shipping route across the Arctic Circl The Russian state nuclear agency Rosatom has signed an agreement with a Chinese shipping line for this matter.
The agency said it expects a record cargo flow of three million tons via the Northern Sea Route in 2024, but ultimately aims to see 50 million of the goods transported on the route under the new agreement.
The deal, signed at the International Economic Forum in St. Petersburg, will expand NewNew's existing activity along the route, which included seven flights in 2023 and is expected to rise to 12 in 2024.
The Russian-Chinese project strengthens Russia's position in the maritime industry after European shipping companies stopped dealing with Russian operators following the Russia-Ukraine war in 2022.
The partnership with Hainan Yangpu NewNew Shipping will see the companies jointly operate the line and also includes the design and construction of new ice-class container ships for the Northern Sea Route (NSR).
"Our main task is to build up to five Arctic-class ships, which will allow the company to operate in the Arctic," Vladimir Panov, Rosatom's special representative for Arctic development, told Light. The sea route is year-round.”
