Japan’s MOL to partner with Russia to develop the Northern Sea Route

Japanese shipping company Mitsui O.S.K. Lines has signed an MoU with FEIA, Russia to leverage the growth of transported goods via the Northern Sea Route, a much shorter alternative to the Suez Canal. The Northern Sea Route is gaining significance with the reduction of ice in the Arctic and the advent of new ice-breaking vessels, which have made the transportation commercially viable.
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