New Arctic route sees first delivery to S Korea

[SEOUL] South Korea has taken delivery of its first cargo shipped by a Korean firm via the Northern Sea route, as the government looks to increase use of the new shipping route opened up through the Arctic.

A vessel chartered by Hyundai Glovis took 35 days to deliver a 44,000 tonne cargo of naphtha from Port Ust Luga in Russia to Gwangyan Port, about 350 km south of Seoul, arriving late on Monday, the Korean Ministry of Oceans and Fisheries said yesterday.

Cargoes of coal, diesel and gas have made the trip through the new route opened by climate change, which offers a shorter journey between Asia and Russia, although shippers face high insurance costs, slow going and strict environmental rules.