COSCO shows interest in trans-Arctic shipping

Chinese company COSCO has expressed interest for trans-Arctic shipping, hoping that the development of a deep-water port on the Northern Dvina River will enable them to bring in big-tonnage ships and increase shipping volumes.

Since 2013, the Chinese giant has actively explored transits along the Northern Sea Route and, in 2017, has sent six vessels across the Arctic, the General Director of COSCO Russia, Tu Deming, was quoted as saying by BarentsObserver.

During his meeting this week with Arkhangelsk Governor Igor Orlov, Mr Deming and his company delegation familiarized themselves with local port infrastructure, marking a closer relationship between Arkhangelsk and Beijing.

The two main investments are the Belkomur railway project and the construction of a deep-water port in the Northern Dvina River, for which Chinese companies have shown interest earlier in September.

As BarentObserver reported, coal, mineral fertilizer, oil, timber, ores, construction materials and containers are the main cargo to be transported by the railway to Arkhangelsk and reloaded for sea transport at the new port. The new port will be located 55 kilometers north of the City of Arkhangelsk.