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.

 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

SBM Offshore Completes $1.55 bln FPSO Financing

SBM Offshore announced it has today completed the project financing of FPSO Cidade de Saquarema for a total of $1.55 billion, marking the largest project financing in the company's history.

NAT Buys 2 Suexmax Tankers

Nordic American Tankers Limited (NAT) acquires two modern Suezmax tankers, increasing the fleet to 26 vessels    Tanker shipping company NAT announced that it

Rolls-Royce Bolsters R&D for MTU Engines

New R&D test facilities in Friedrichshafen already in service; 40 million euros invested for greater fuel economy and lower emissions    Rolls-Royce Power Systems

Arctic Operations

Shell Gets APD for limited Arctic Drilling

After extensive review and under a robust array of safety requirements, Bureau of Safety and Environmental Enforcement (BSEE) Director Brian Salerno today announced

Iceland Left out of Arctic Fishing Accord

Iceland was not involved in the creation of the new joint cooperation agreement on fishing in the Arctic Ocean, and insists it should be included. The five

CITB Employees Vote Down Union Petition

Representative employees of marine transportation company of Cook Inlet Tug & Barge Inc. (CITB) on Monday voted to reject a petition that would see a union organize

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
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: 0.1351 sec (7 req/sec)