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The Murmansk Shipping Company (MSCO) and Sibanthracite Overseas AG, affiliated with Russia’s biggest coal holding VostokCoal, will make one of the biggest transport projects in the Arctic - the companies have inked an agreement on coal deliveries along the Northern Sea Route for the term of five years, MSCO’s press service said on Wednesday.

"This project will be one of the biggest projects in the Arctic to deliver bulk cargo," the company said. "High-quality anthracite, produced on Taimyr, will be delivered from the Dikson port to Europe."

First shipments are due in 2019. The project will involve MSCO’s most vessels. The agreement’s price is not announced.

According to the company, the shipments will be served by MSCO’s strengthened ice-class vessels, which can work year-round throughout the Arctic.

"The signed agreement is an important step towards implementation of a large-scale and strategically important project to develop Russia’s coal industry, export of coal, cargo turnover along the Northern Sea Route, and the Arctic zone’s social and economic spheres," the company said.

Source: TASS