Arctic Holds Boatloads of Shipping Potential

By Eric Haun
Thursday, June 20, 2013
Leive Lunde (Photo: FNI)

The Arctic region is notorious for relentlessly harsh climates that make shipping operations grueling. But despite the many limitations these conditions present, Leiv Lunde, Director, Fridtjof Nansen Institue, says the outlook is optimistic for the Arctic maritime industry 10-20 years down the road.

Lunde presented “Asia’s Rise, Arctic Change and Energy Trade: Myths, Realities and Implications for the Shipping Industry” at the 26th annual Marine Money Week in New York on Wednesday June 19. He painted a fairly bright picture for potential maritime developments in the frigid region.

To help build his case, Lunde offered a few key factors:

-Warming climates have steadily melted ice for last five-10 years, and weather patterns seem to indicate that this will continue, making the region less treacherous environmentally.

-While Asia’s thirst for energy remains unquenched, energy prospects in the Arctic are being revisited and Lunde predicts drilling will become an economic driver in the region.

-Vast potential for tourism, science and fisheries are also driving Asia to embrace the Arctic.

-Russia also stands to be a driver in the Arctic as Putin looks to restore operations in the area. The Russian government has placed a priority on the build of diesel and nuclear powered icebreakers.

While the Arctic is an area that remains largely untouched by most commercial operators and investors, Lunde suggests companies examine the region for its prospects as a viable business resource.

 


Finance

KfW IPEX-Bank Boosts its Presence at SMM

In an interview the departing head of the KfW IPEX-Bank Maritime Industries department, Dr. Carsten Wiebers offers insight into the facets of international ship

Hyundai Merchant Marine to buy Hanjin's 'Good' Assets

South Korea's financial regulator said on Wednesday that Hyundai Merchant Marine Co Ltd will seek to acquire healthy assets of troubled shipper Hanjin Shipping Co Ltd.

APM Terminals to invest $70 mln in Port Elizabeth Terminal

The Port of New York and New Jersey is the largest port on the US East Coast and third largest in the United States with 6.37 million TEU handled in 2015.  In 2014,

Arctic Operations

Russia Honours First British Arctic Convoy, 75 Years On

British and Russian World War Two veterans gathered on Wednesday in Arkhangelsk, 75 years to the day since Britain's first Arctic convoy of military supplies steamed into the northern port.

Arctic Sea Ice Melt Continues

As of August 14, Arctic sea ice extent is tracking third lowest in the satellite record, according to the National Snow & Ice Data Center (NSIDC). The southern

Keppel to Deliver First North Sea FPSO

Keppel Offshore & Marine (Keppel O&M)'s wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0820 sec (12 req/sec)