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Icebergs, Insurance Hamper Top of the World Shipping Route

The new shipping route opened up through the Arctic by climate change will not be crowded any time soon. Cargoes of coal, diesel and gas have made the trip but high insurance costs, slow going and strict environmental rules mean there will not be a rush to follow them. Looser ice means icebergs. One vessel has already been holed, and large ice breaking vessels, not always on hand, are a must. “Significant safety and navigational concerns remain an obstacle to commercial shipping in the ...

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