Russia's Rosatom expects boom in foreign vessels using Arctic shipping route

MOSCOW (Reuters) -Russia expects a 50% rise in voyages by foreign vessels using the Northern Sea Route (NSR) along its Arctic coast this year, which Moscow sees as an alternative to the Suez Canal, state-controlled nuclear energy firm Rosatom told Reuters on Friday.

Rosatom runs a fleet of icebreakers and is in charge of operations along the NSR, which connects Russian ports with China during the summer months, saving vessels up to 10 days at sea compared to traveling via the Suez Canal.

Moscow is promoting the route as a way of avoiding sailing close to the borders of European Union member states at a time of mounting geopolitical tensions.

"There is a clear upward trend in international interest in the NSR ... In 2025, foreign companies are expected to conduct at least 1.5 times more voyages through the NSR compared to the previous year," the company told Reuters in emailed comments.

As of May 27, a total of 196 applications have been submitted for vessel navigation along the NSR, including vessels sailing under foreign flags, Rosatom said, adding that summer-autumn navigation will be open from July 1 to November 30.

A record volume of nearly 38 million metric tons of various goods, including oil and liquefied natural gas, was shipped along the route last year, the company said.

However, the NSR presents a massive challenge for ships due to thick ice in winter, and navigation is restricted to warmer months.

Long dominated by vessels managed by Russian shipping giant Sovcomflot, Azerbaijan-based Vista Vvave Shipmanagement was among companies using the NSR for the first time last year.

(Reporting by Reuters reporters in Moscow and Gleb Stolyarov; Editing by Joe Bavier)