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International Shipping
Cosco exec sees Northern Sea Route as a winner for Chinese shipping
Date:2019-05-24 Readers:

CHINESE state-owned shipping giant Cosco group has confirms its readiness to increase transit shipments on theNorthern Sea Route though Russian Arctic waters, reports the Barents Observer of Kirkenes, Norway.

Speaking at the Arctic Circle China conference in Shanghai, Cosco marketing chief Chen Feng said: "It is smooth and quick. Our strategy is to serve the Polar Silk Road between the North Atlantic region and the Far East."

Mr Chen did not specify the number of planned voyages, but made clear that there would be "several of them", both east and westbound. 

"It is possible to save 10 days on a shipment between Asia and Europe when choosing the Northern Sea Route, and that means saving of costs," he said.

The westbound shipments will be made mainly from China but possibly also from South Korea and Japan. "We are also ready offer services from the North Atlantic region, including European North America side to Far East through the Arctic Ocean's Northeast Passage," he said.

Cosco has over the past five years been the leading company in transit shipments along the shipping route through Russian Arctic waters. The first two shipments were made in 2013 and in 2018 a total of eight voyages were made, said the Observer report.

http://www.shippingazette.com/menu.asp?encode=eng

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