South Korea has taken delivery of its first
cargo shipped by a Korean firm via the Northern Sea route, as the
government looks to increase use of the new shipping route opened up
through the Arctic.
A vessel chartered by Hyundai Glovis took
35 days to deliver a 44,000 ton cargo of naphtha from Port Ust
Luga in Russia to Gwangyan Port, about 350 km (220 miles) south
of Seoul, arriving late Monday, the Korean Ministry of Oceans and
Fisheries said on Tuesday.
Cargoes of coal, diesel and gas have made
the trip through the new route opened by climate change, which offers a
shorter journey between Asia and Russia, although shippers face high
insurance costs, slow going and strict environmental rules.
The ministry said the government intended
to strengthen cooperation with Russia and other countries around the
Arctic area, and would support Korean shipping companies to help them
tap into the Northern Sea route.
"The available period of operation at the
Arctic Sea and the size of cargo volume are increasing and many
countries are pushing ahead with resource exploration in the Arctic
area," the ministry said.
The route would be available for trips
to Korea for 4-5 months a year, although Seoul currently had
difficulties securing cargoes and had a lack of ice breakers.
The naphtha cargo, delivered for South
Korean petrochemical producer YNCC, had been expected to take 30 days,
but was delayed by bad weather, while Russian ice breakers were on call
at ice-bound areas.
Asia is structurally short of naphtha and routinely takes from Europe, including Russia.
Rosneft and Novatek regularly ship naphtha
to Asia from Nakhodka and Ust-Luga respectively, where the latter has a
term agreement with YNCC.
Naphtha from Tuapse is also shipped to Asia when demand for the light fuel falls in Europe.
Copyright Reuters 2013.
Post to be found at:
http://www.maritime-executive.com/article/Hyundai-Takes-Advantage-of-Arctic-Sea-Route-2013-10-22/
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