cosco transport concern develops the arctic


The other day it became known that the Chinese transport concern COSCO is intending to establish a regular shipping service through the Russian Arctic. The concern’ press service explains that the company is going to use the Northern Sea Route to trade with the European countries. Nevertheless at present COSCO concern has only one cargo ship fit for operation in the northern latitudes. Now the company management is planning to buy other transport ships meeting all the requirements to work in the Far North conditions.

It should be noted that its is no mere chance that the Northern Sea Route has been chosen. This is due to the melting of glaciers in summer and autumn. Scientists forecast that in the nest years under such weather conditions the ice cover will completely vanish, which will make possible the shipping from China to Canada and the USA. Exactly this channel has prospects because it will help considerably reduce the transit costs between Europe and Asia.