Russia’s Rosatom and Dubai’s DP World will build a container ship for cargo transportation along the Northern Sea Route

Within the scope of the joint venture between Rosatom and Emirates DP World, it is planned to build a container ship for cargo transportation along the Northern Sea Route. The project is being implemented and the design of the ship is undertaken, Rosatom's envoy on the Arctic development said.

In autumn 2023, Rosatom and DP World established a joint venture, International Container Logistics, to develop transit container traffic along the Northern Sea Route.

It has been reported that this joint venture is expected to provide annual traffic volumes of up to 800 thousand TEUs in the pilot phase. TEU is an acronym used in container shipping or logistics, which means 'Twenty Equipment Unit', or a 20-foot container.

Rosatom's subsidiary Rusatom Cargo owns 51% of the project, while DP World owns 49%. The authorised capital of the joint venture is 960 million roubles ($10,9 million).

This is a joint venture […] which aims to create container port facilities, between which a high-class Arctic vessel, a container ship, will sail, Rosatom's envoy on the Arctic development continued.

The study on the parameters of the ship has been completed, a lot of work has been done. Now we are already moving on to the contract for the design of the container ship, he added.

According to Rosatom's envoy, the cargo base for this project is clear. "We have preliminary agreements on the loading of this ship."

In December 2023, Rosatom and DP World signed an agreement providing for the creation of a global logistics operator that will operate in the Russian and international markets.

State Atomic Energy Corporation Rosatom (ROSATOM) is one of the global technological leaders, with capacities in the nuclear sector and beyond, and business partners in 50 countries. The corporation includes about 400 enterprises and organisations employing a total of more than 330,000 people.

DP World is one of the world's top port operators. DP World is a multinational logistics company based in Dubai, United Arab Emirates. It specialises in cargo logistics, port terminal operations, maritime services and free trade zones. It has more than 100,000 employees working in 75 countries.

Source: RIA Novosti

Also read the publication:
Arctic Weekly Newsletter