Arctic Mining Company and Nordic Bulk sign Memorandum of Cooperation
On the 29th of March 2017, General Director of Arctic Mining Company Vadim Bugayev and Managing Director of Danish Shipping Company Nordic Bulk Carriers Mads Boye Petersen signed Memorandum of Cooperation. The signing took place in the framework of the "Arctic - Territory of Dialogue" Forum held in Arkhangelsk.
The Arctic Mining Company (AGC) is managed by MC “VostokCoal”, which is implementing a comprehensive development project for the Taimyr Coal Basin. As stated in the document, the goal of cooperation between AGK and Nordic Bulk Carriers is the development of the Northern Sea Route, increase of cargo transportation from the Taimyr Peninsula to 30 million tons per year.
The Parties agreed to use Panamax ships (deadweight - 76,000 tons). To service ships of this capacity, AGC plans to expand the port Chaika, which is right now under construction. Afterwards, Panamax ships will replace Bothnia and Barents ships, which will be soon used for transportation of first batches of anthracite mined by the AGK in Taimyr.
The Parties also plan to cooperate on expansion of Panamax fleet. The joint implementation of orders, construction, financing and fleet management is envisaged.
In course of the signing ceremony General Director of the Arctic Mining Company Vadim Bugayev said: "Today we signed a document important for further development both of the Northern Sea Route and the Russian Arctic. Creation of new points of economic growth, the full development of the entire region is impossible without solving logistic problems, building ports and developing the Northern Sea Route. We will increase cooperation with Nordic Bulk, which will help increase the cargo turnover of the Arctic Passage. "
Nordic Bulk Carriers A/S are part of the Pangaea international network offering worldwide logistics solutions to our clients. With our fleet of eight ice class 1A bulk carriers, Nordic Bulk Carriers is one of the world’s leading ice trading operators.
In 2010 we became the first operator to use the Northern Sea Route with a cargo of iron ore from Norway to China. In 2013 our fully loaded Nordic Orion became the first bulk carrier to traverse the Northwest Passage carrying coal from Vancouver to Finland.
Our fleet includes two handymax ships and six modern Japanese panamax ships delivered in the period from 2010 up to 2016.
We operate in the Handy, Supermax and Panamax segments, shipping a wide variety of commodities including coal, iron ore, cement clinker, steel scrap, fertilizers and grain.
