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 October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Asian Airlines Pause Before Hedging on Fuel

Oil fell to four-year low of $72 on Thursday; Airlines hope the price will slip below $70 a barrel. Airlines in Asia-Pacific are holding off from hedging their

Arctic Operations

MSC Approves SOLAS Amendments

SOLAS amendments to make IGF Code mandatory approved by Maritime Safety Committee   The International Maritime Organization’s (IMO) Maritime Safety Committee (MSC),

Production Begins on Sovcomflot’s New MPSV

Arctech Helsinki Shipyard started production of the new icebreaking multipurpose supply vessel   The production of the icebreaking multipurpose supply vessel

Strategy Can Maximize UKCS potential

Companies operating in the North Sea require a cultural shift to make the most of the its potential, according to a new report from Deloitte, the business advisory firm.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1752 sec (6 req/sec)