South Korea’s Arctic shipping ambitions on ice due to high costs and low volumes

South Korea’s Ministry of Oceans and Fisheries (MOF) is struggling to attract local shipping companies to build ice-class container ships, despite dangling $8m of subsidies. The idea was to build ice-class ships in a local shipyard in the hope of running regular liner services through the Northern Sea Route by 2030. South Korea is keen to tap the NSR as an expedited shipping lane from South Korea Read full article →