Chinese shipper on path to ‘normalize’ polar shipping
This summer COSCO plans to send as many vessels on the Northern Sea Route as it has during the past three years combined.
Starting with the voyage of the Yong Sheng in 2013, the Chinese shipping firm COSCO has sent 10 vessels on a total of 14 voyages along the Northern Sea Route, in Arctic Ocean waters north of Russia. The company announced last week that this summer it will send 10 more, at a time when Beijing is seeking to include Arctic shipping in a trillion-dollar investment initiative that puts China at the center of a new network of global trade routes.
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