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Tuesday, January 25, 2011

Shipping Through The Arctic Route Cuts Time in Half From Europe to China -- Not a Bakken Story

This is an interesting story that has nothing to do with the Bakken. Because of a significant decrease in ice in the Arctic, it is now feasible to ship iron ore from Norway to China via the "Arctic route" rather than through the Suez Canal.

Commercial ships follow a Russian nuclear-powered ice breaker in case of ice from the Atlantic to the Pacific via the northern route. The Russians charge $200,000 to accompany the commercial ship. The "Arctic route" is half the distance it would be through the Suez Canal, saving 17 days as well as the fuel.

It was noted that there are no Somali pirates in the Arctic.

There was no mention of marauding Vikings.

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