Russia's Deputy Prime Minister said he had discussed with the intergovernmental commission's co-chairman, Vice Premier of China's State Council the issue of ship insurance.
The development of the Northern Sea Route (NSR) creates jobs and develops connections with the Far East, Russia's Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District said after the meeting of the intergovernmental commission on the development of the Russian Far East and Northeast China, which took place in Beijing.
Some of the Far East regions are also Arctic regions. The Northern Sea Route creates jobs and regional connections, the envoy said in response to a request to comment on the importance of the Northern Sea Route for the region.
The NSR is not just a water area where ships may sail, he continued. It is a satellite grouping to monitor weather conditions and to have ice reconnaissance. It is the icebreakers, both nuclear and non-nuclear, that will be able to lead vessels in difficult ice conditions. It is a large number of service vessels. It is the Emergency Situations Ministry's stations to address potential problems during the navigation.
Russia's Deputy Prime Minister said he had discussed with the intergovernmental commission's co-chairman, Vice Premier of China's State Council the issue of ship insurance.
Western counterparts have stopped insuring ships […]. Chinese banks have significant capital, and they are quite able to simply occupy this market. It would be a good solution, the president's envoy stated.
During the meeting, the prospects of cooperation in developing the Northern Sea Route were discussed. Chinese shipping companies are already taking advantage of this international transport corridor. This year, China’s NewNew Shipping Line has already made eight trips from China to the Russian ports of Murmansk and St. Petersburg.
The Northern Sea Route is a shipping route and the main sea line in the Russian Arctic sector. It stretches along the northern coasts of Russia across the seas of the Arctic Ocean. The route consolidates the European and Far Eastern ports of Russia and navigable river mouths in Siberia into a single transport system. The route’s length is 5,600 km from the Kara Strait to Providence Bay.
The distance from the port of Rotterdam in the Netherlands to the port of Yokohama in Japan (which is a southern channel via the Suez Canal) is 11,205 nautical miles, or 7345 nautical miles when using the NSR. Besides, the NSR shortens the distance from Rotterdam to Shanghai by 2,449 nautical miles.
Source: TASS
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