World News
Sovcomflot Sees Northern Sea Route Open Two Months Early
The Northern Sea Route to the north of Russia has been passable this year two months earlier than normal, according to shipping company Sovcomflot.
Sovcomflot's LNG carrier the Christophe de Margerie was able to complete its passage through the route by the end of May this year, the company said Monday, when ice conditions normally prevent passages by vessels of its size before July.
"This successful voyage across the NSR, in May, allows us to move one step closer to realising the full transit potential of the Northern Sea Route, marking an important expansion in the shipping opportunities available to Arctic industrial projects in particular," Igor Tonkovidov, CEO of Sovcomflot, said in the statement.
"Even in the challenging ice conditions encountered during this time of the year, choosing the NSR allows for a significant reduction in the length of a voyage delivering LNG to APAC ports compared with using the Suez Canal."
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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