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Iceland builds Arctic port as global shipping routes get redrawn

Germany's Bremenports will work with Icelandic partners to build a new deep vessel port on the fringe of the Arctic circle. The port will be a joint venture with two Icelandic municipalities.

Photo: Joachim Adrian/Polfoto

As global warming creates shipping routes that can cut across the northern tip of the planet, a new port is being built on the fringe of the Arctic circle.

Germany's Bremenports GmbH has entered a deal to develop a deep vessel port together with Icelandic partners, according to a statement on Thursday. Bremenports will initially own two thirds of the joint venture, while Icelandic engineering firm Efla will control about a quarter. The rest will be co-owned by two Icelandic municipalities.

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