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Rosatom, the Russian nuclear company, expects a boom in foreign vessels using the Arctic shipping route

Rosatom, the state-controlled nuclear power company, said on Friday that Russia expects foreign vessels to use the Northern Sea Route this year in a 50 percent increase. Moscow views the NSR as an alternative for the Suez Canal.

Rosatom operates a fleet icebreakers, and oversees operations along the NSR which links Russian ports to China in the summer. This saves vessels up to ten days of travel time compared with traveling through the Suez Canal.

Moscow promotes the route to avoid sailing near the borders of European Union members states in a time when geopolitical tensions are increasing.

There is a clear upwards trend in the international interest in NSR... The company stated that foreign companies will conduct 1.5 times as many trips through the NSR in 2025 compared to last year.

Rosatom reported that as of May 27, there were 196 applications for vessel navigation along NSR. This includes vessels flying foreign flags. Summer-autumn sailing will be available from July 1 through November 30.

The company reported that a record volume of almost 38 million metric tonnes of different goods, including oil, liquefied gas and other products, were shipped along the route in the past year.

The NSR is a major challenge for ships in the winter due to the thick ice. Navigation is only allowed during warmer months.

Vista Vvave Shipmanagement, based in Azerbaijan, was one of the companies that used the NSR last year for the first.

(source: Reuters)