As ice caps melt due to some of the warmest temperatures ever recorded, a new energy trade route is opening up north of the Arctic Circle. The development alarms NGOs but represents an opportunity to shipping players such as LNG carriers.
JSC Zaliv Shipyard, a major Russian yard that builds both container ships and tankers, has now been added to the EU's sanction list because it participated in the construction of the Kerch bridge to the annexed Crimea penninsula. This is the first time a yard has been added to the list.
Sovcomflot's huge LNG tanker vessel Christophe de Margerie (photo) has set a new time record for sailing north of Russia in July from the Yamal Peninsula to the Bering Strait without assistance from ice-breakers.
The sanctions against Russian mining behemoth Rusal increases uncertainty in the dry bulk market, causing displacements throughout the supply chain, say stakeholders such as Norway's Torvald Klaveness.
Russia's new protectionist shipping law for the Northern Sea Route is a "regrettable signal to the world," Executive Director Jacob K. Clasen, Danish Shipping, tells ShippingWatch. Read on to learn the shipowners' concerns about the law.
If Denmark says no to a Russian gas pipeline due to political reasons, it could impact safety for ships in the Baltic Sea, as the project will instead be placed beyond the reach of Danish authorities in trafficked waters.
An international court has sentenced Russia to pay USD 6 million in fines in a case related to Russia's imprisonment of 30 Greenpeace activists in 2013. The activists were protesting against oil drilling near the Arctic when Russian special forces boarded their ship.
Last year's fluctuations in the tanker market were severely testing for the sector, says state-owned Russian tanker carrier Sovcomflot after publishing an annual report showing a setback in profits compared to 2015.