Putin nationalises box line Fesco and eyes NSR development
Russian container shipping line Fesco has been nationalised – Russian president Vladimir Putin signed a ...
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By Alex Lennane
The Northern Sea Route had fewer shipments passing along it than the year before, as non-Russian companies have steered away from it. Problems with infrastructure as well as sanctions have made the shipping lane, which cuts more than 2,000 nautical miles from a Rotterdam to Shanghai voyage going through the Suez Canal. President Putin promoted the Arctic route as a key new trade lane – but shipping lines have yet to be convinced.
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