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Thursday, February 4, 2016

Trans-Arctic Shipping means big gains for shippers

China Ocean Shipping Company(COSCO) has entered into an agreement with the American Bureau of Shipping to develop more sustainable navigation of vessels on Trans-Arctic routes.


This route shortens a typical voyage by approximately 4000 nautical miles compared with traditional Suez Canal passage.

COSCO is increasing investment in ice classed vessels and Arctic technology to open up this route further.

The operational cost savings to COSCO will translate into lower freight rates and shorter transit times which will be a huge benefit for shippers.

All for now,

+Brad Skelton 

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