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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Industry Event to Explore e-Navigation

e-Navigation and the Gulf Area: Meeting Information Needs Where Blue Water, Brown Water and Port Facilities Intersect   An event examining the role, development

Royal Caribbean Selects Quintiq Software

Quintiq, a Dassault Systèmes company, announced that Royal Caribbean Cruises Ltd. has selected its software solution to optimize the assignment of more than 80,

ABB Software to Monitor Cosco Heavy Transport Fleet

ABB, a power and automation technology group, will supply its onboard motion monitoring and forecasting system to the Xiang Rui Kou heavy lift vessel, meaning the

Navigation

Seaway Stakeholders File Suit Against US Coast Guard

Ports and vessel operators challenge what they call “flawed pilotage fees”   A coalition of U.S. Great Lakes ports, vessel operating companies and maritime trade

Industry Event to Explore e-Navigation

e-Navigation and the Gulf Area: Meeting Information Needs Where Blue Water, Brown Water and Port Facilities Intersect   An event examining the role, development

Coast Guard to Remove Some Navigation Aids in Virginia

The U.S. Coast Guard is scheduled to discontinue 166 navigational aids within the Virginia Inside Passage (VIP) due to shoaling and other navigational safety concerns throughout the area.

Marine Science

P&I Club warns on Enclosed Space Entry & Testing

The London P&I Club says it continues to see cases of injuries and fatalities associated with entry into enclosed onboard spaces, including cargo holds on bulk

TAMRF Extends Research Vessel Charter

Overseas Drilling Ltd., a 100 percent owned subsidiary of Siem Offshore Inc., and Texas A&M Research Foundation (TAMRF) have agreed to extend the charter of the

Kongsberg Tech for Peruvian Arctic Research Vessel

Kongsberg Maritime has been chosen to deliver an integrated subsea technology systems package including two HUGIN Autonomous Underwater Vehicles (AUV) for a new

Arctic Operations

Defense Appropriations Bill Includes $1 Bln for US Icebreaker

The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.

Kongsberg Tech for Peruvian Arctic Research Vessel

Kongsberg Maritime has been chosen to deliver an integrated subsea technology systems package including two HUGIN Autonomous Underwater Vehicles (AUV) for a new

Technip Bags Statoil's Umbilical Supply Contract

Technip’s wholly-owned subsidiary Technip Umbilicals Ltd.(1) has been awarded a contract by Statoil ASA to supply the umbilical(2) to the Oseberg Vestflanken 2 field offshore Norway.

Offshore Energy

Mothballed Vessels SE Asia Reflect Oil Slump Pain

Around 1,300 offshore support vessels lying idle worldwide. Not everyone in shipping is bemoaning the industry's worst crisis in living memory: a cluster of

Bulgaria, Greece to Consider Greek LNG terminal

Bulgarian state energy holding company BEH and Greek natural gas company Gastrade have set up a joint task force to prepare a proposal to build an off-shore liquefied

Trim Optimization – Saving Fuel on Offshore Supply Vessels

A joint development project (JDP) between DNV GL, Statoil and Farstad Shipping has demonstrated that offshore supply vessels (OSV) can save up to 21,000 Euros on their annual fuel bill,

 
 
Maritime Contracts Maritime Security Pipelines Pod Propulsion 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: 0.0770 sec (13 req/sec)