Analyst casts doubt over Arctic routes
Huge insurance costs, slow speed, and a fear of environmental disasters are all factors that will keep many carriers away from Arctic routes in the near future, says a shipping analyst.
BY OLE ANDERSEN
The new shipping routes through Arctic waters are not likely to become too congested right away. Vessels carrying coal, diesel, or gasoline have undertaken the voyage, but due to due to high insurance costs, slow speed and strict environmental rules few carriers are eager to follow, believes Richard Hurley, senior analyst for HIS Maritime.
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