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Today Date : Friday, June 21, 2024

SPIEF 2023 discusses Northern Sea Route development prospects

SPIEF 2023 discusses Northern Sea Route development prospects

The "Northern Sea Route: Outcomes and Plans" session, held at the St. Petersburg International Economic Forum as part of the Russian Chairmanship of the Arctic Council in 2021-2023, discussed the sustainable development of the Northern Sea Route, its future prospects, and the needs of Russian companies in terms of icebreaking vessels. 
The route is a crucial part of global logistics and a transport corridor of the future, covering 7000 miles from Murmansk to Shanghai and 12,500 miles from Shanghai to Murmansk via Gibraltar and the Suez Canal. 
However, the route has its drawbacks, such as ice and the time it takes to navigate. 
Experts are working with shipping companies to improve ice forecasting, and all shipments are meticulously planned out and implemented with icebreaking support.

First Deputy Minister of the Russian Federation for the Development of the Far East and the Arctic, GadzhimagomedGuseynov, highlighted the importance of developing the Northern Sea Route following the 2021 container ship accident in the Suez Canal. 
He emphasized the potential for year-round use of the route, as technology is available, and that Hokkaido in Japan could serve as a traffic terminal. 

The Northern Sea Route represents an opportunity for diversification, and an economic assessment of the route, further research, and new regulatory measures from the international community are needed for its stability.

The session was held at the Ministry for the Development of the Russian Far East and Arctic's "Arctic: Territory of Dialogue" stand, one of approximately 15 events on its business programme, some of which are included in the plan for Russia's Chairmanship of the Arctic Council. 
The discussions included "Protecting and Monitoring Arctic Biodiversity," "The Russian Arctic – Focal Point. Protected areas in the 21st Century," and "Filmmaking in the Arctic: A Dialogue Between Nature and Technology."