Murmansk Shipping signs contract to transfer coal through Arctic
Murmansk Shipping Company (MSCO) signed a contract regarding a five-year transportation of coal along the Northern Sea Route. The contract was signed between Murmansk Shipping Company (MSCO) and Sibanthracite Overseas, a subsidiary of Russian coal company VostokCoal.
Murmansk Shipping Company (MSCO) signed a contract regarding a five-year transportation of coal along the Northern Sea Route. The contract was signed between Murmansk Shipping Company (MSCO) and Sibanthracite Overseas, a subsidiary of Russian coal company VostokCoal.
MSCO under this deal will be able to transit coal, produced in the Russian Arctic to Europe via the Northern Sea Route. Under this agreement, its vessels will transport large quantities of anthracite coal mined from Russia’s Taimyr peninsula via the Port of Dikson, which is located on the Kara Sea, to ports in Europe. The deal is set to commence in 2019 with the start coal production at Taimyr.
"This project will be one of the biggest projects in the Arctic to deliver bulk cargo. The signed agreement is an important step towards the implementation of a large-scale and strategically important project to develop Russia’s coal industry, and increase coal exports and cargo turnover along the Northern Sea Route"
Moreover, VostokCoal manages the Taimyr coal basin, which accommodates one of the largest anthracite coal deposits in the world. MSCO described the contract as one of the largest shipping contracts related to the transport bulk cargoes ever in the Arctic. The company (MSCO) stated that a major portion of its vessels will be used to fulfill the contract.
Shipments from Taimyr are expected to be year-round, needing icebreaker help during winter.
