China’s COSCO eyes regular shipping via Northern Sea Route
The China Ocean Shipping Company (COSCO) intends to establish regular shipping lines between Asia and Europe via the Russian Arctic, the Arctic-Info news agency reported, citing the COSCO press service.
So far, COSCO has only one ship that can be operated in high latitudes — the Yong Sheng general cargo ship. But the company is planning to supplement its Arctic fleet by purchasing or building ice-breaking freighters.
COSCO is one of the world's largest freight shipping companies. Its fleet of 800 merchant vessels with the total deadweight of 56 million metric tons is capable of handling more than 400 million tons of cargo per year.