Expanding Arctic ocean to get its own shipping rules


  • World
  • Tuesday, 21 Jan 2014

TROMSOE, Norway (Reuters) - New shipping rules are soon to be agreed 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.

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