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Expanding Arctic Ocean to Get Its Own Shipping Rules

New shipping rules are soon to be agreed upon for the Arctic, where summer sea ice has shrunk by about two-thirds over three decades, opening a new ocean with vast natural resources. Maritime nations are close to a landmark deal on the Polar Code, aimed to improve safety, lead to lower insurance premiums and help the rise of traffic, industry insiders said. About a tenth of the world's undiscovered oil and close to a third of its undiscovered gas is thought to lie under Arctic...


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