The Northern Sea Route – A major change in regulation

The Northern Sea Route – A major change in regulation

In January 2013 a number of major amendments in the Russian legislation regarding the NSR entered into force. Amendments were made to the Russian Merchant Shipping Code, Federal Laws and by-laws, providing for new Rules of Navigation of the Northern Sea Route and the establishment of a new Northern Sea Route Administration.

Despite the legislative efforts to promote commercial navigation on the Northern Sea Route one still has to be prepared to deal with such major factors as generally harsh weather conditions, remoteness of the region, lack of reliable infrastructure (safe ports, repair yards, drydocking facilities) the limited number of icebreakers, and thus limited search, rescue and salvage resources. In such conditions the commercial insurance of both H&M and P&I risks in the Arctic region will remain a challenge for both P&I Clubs and underwriters for many years to come.

 

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