News and interesting statements from the Eastern Economic Forum, held in Vladivostok, Russia keep coming out.
The latest is that DP World, the Emirati multinational logistics company wants to build a terminal for Arctic container shipping in Vladivostok. The company handles roughly 10 percent of global container traffic.
DP World will carry out a feasibility study with FESCO, Russia’s largest intermodal transport operator on the prospects for developing the Northern Sea Route Into an international trade artery.
If the study determines that the terminal is viable, the new berth would help to expand Vladivostok’s port into a transshipment hub, in line with the proposed development of Russia’s Northern Sea Route (NSR), according to The Maritime Executive.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, commented: “DP World supports President Vladimir Putin’s vision for the Northern Sea Route, which is one of the last great trading routes in the world to be developed. Opening up an alternative route to the Suez Canal between east and west will increase the resilience of world trade. It has great potential to develop economic activity and prosperity in Russia’s far north. It must be done sustainably to protect the pristine waters of the Arctic".
Opening up an alternative route to the Suez Canal between east and west will increase the resilience of world trade
The plan is that cargo will be brought to the would-be terminal in Vladivostok with ships and trains from countries in East Asia and be loaded onto containerships there. Murmansk will be further developed as a transshipment hub in the west to connect cargo to ports in Northwestern Europe. DP World’s operations will serve both Vladivostok and Murmansk.
"Northern cargo traffic is actively growing, and the goal of 80 million tons of cargo turnover by the end of 2024 has been set. However, we are already looking further, and we believe that a new stage in the development of the Northern Sea Route and the Great Northern Sea Route as a transport artery connecting Europe and Asia will begin after 2025. According to our conservative estimates, cargo turnover will reach 150 million tons in 2030", said Vladimir Panov, Special Representative of Rosatom for the Development of the Arctic.
The Northern Sea Route is one of Russian President Vladimir Putin's flagship projects and he recently said that the country is aiming for year-round sailing along this shipping lane. Russia is currently investing heavily in infrastructure along the NSR in the Russian Arctic.