Arctic Economic Potential: Scholarly Briefing Published

Press Release/The Finnish Institute for International Affairs
Tuesday, May 28, 2013

The need for a comprehensive and risk-aware understanding of Arctic dynamics before proceding with development is emphasised in a recent research paper.

The melting of the Arctic is expected to offer prospects for maritime transport and hydrocarbon exploitation that could potentially create an Arctic economic boom.

In principle, more accessible Arctic sea routes could offer substantial savings in logistics between Asian, American and European markets when compared to the current global maritime trade routes via the Panama and Suez Canals.

It is estimated that as much as 13 per cent of undiscovered oil deposits and 30 per cent of undiscovered gas deposits on the globe are located in the Arctic area. These hydrocarbon prospects are further estimated to make the Arctic area a major global energy hub.

However, the extent and pace of overall Arctic development is still difficult to forecast. There are many uncertainties and challenges in the Arctic environment, infrastructure, technology and global economy that may hinder the expected trajectories.

What is needed is an informed, comprehensive assessment of the risks and gains related to the development of the Arctic, conclude authors Harri Mikkola & Juha Käpylä.

To download the report in PDF click here.
 

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

Technology

LiveCom Selects iDirect Evolution to Enable Global Expansion

iDirect Asia Pte Ltd today announced that LiveCom Limited (“LiveCom”), a Hong Kong based ISP, has selected Evolution as the platform to help enterprise and government

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

Desulfurization of Exhaust Gases in Shipping

Are shipowners prepared to enter SECA zones?   Due to existing regulations on air exhaust emissions from the International Maritime Organization (IMO), and with

Navigation

Raytheon Anschütz Debuts ShipGuard at SMM

In view of an increasing demand for security of merchant ships and maritime trade, Raytheon Anschütz, a German-based manufacturer of Integrated Bridge Systems,

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

More VDR Orders for Danelec in China

Danelec Marine has received orders to supply Voyage Data Recorders (VDRs) and Electronic Chart Display and Information Systems (ECDIS) for 18 offshore support vessels in China.

Marine Science

Search for Flight MH370: Update

Australia's Joint Agency Coordination Centre (JACC) says that a bathymetric survey of the 60,000km2 search area is well underway, with two vessels, the Australian-contracted

ISS's Innovative Series of New Travel Apps for Cruise Industry

Inchcape Shipping Services (ISS) the world’s leading maritime services provider, has launched an innovative series of travel apps for the cruise industry in Greece,

Jacksonville Adds PORTS Real-time Data System

Officials from NOAA, the Jacksonville Marine Transportation Exchange, and the Jacksonville Port Authority officially dedicated a new information system today

Arctic Operations

Study: An Arctic Oil Well Blowout Could Spread More Than 1,000km

Oil from a spill or oil well blowout in the Arctic waters of Canada's Beaufort Sea could easily become trapped in sea ice and potentially spread more than 1,000 kilometres to the west coast of Alaska,

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

Offshore Energy

Prelude By the Numbers

Out at sea, look! It’s a ship! It’s a floating rig! It’s SuperFLNG! While not “faster than a speeding bullet,” Shell’s shipzilla Prelude is certainly more powerful than a speeding locomotive,

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair 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: 0.1095 sec (9 req/sec)