"Rosatom" and NewNew Shipping to Establish JV for Year-Round Arctic Shipping
February 13, 2025

State Corporation "Rosatom" and Chinese shipping company Hainan Yangpu NewNew Shipping have announced the creation of a joint venture to organize year-round container shipping along the Northern Sea Route (NSR). The agreement was signed at the St. Petersburg International Economic Forum, reports "Strana Rosatom".

The document envisions the creation of a new company that will design and build high ice-class container ships and manage an Arctic container line. The project aims to establish permanent shipping services between ports in Russia and China via the NSR.

“We see growing interest in the Northern Sea Route from Asian partners. Last year, NewNew Shipping made seven voyages along the NSR, and this year we plan up to 12. Our goal is to build up to five Arctic-class vessels to ensure year-round operation of the route. We have also agreed with the Chinese government to establish a subcommittee for the NSR, and we will define its members by August,” said Vladimir Panov, Special Representative of Rosatom for Arctic Development.

Fan Yuxin, Chairwoman of Hainan Yangpu NewNew Shipping, emphasized the importance of the Arctic route for international trade between Russia and China: “We are actively participating in the development of the Northern Sea Route and plan to expand our investments in the construction of high-class container ships for year-round operation.”

Photo: Global Ports