• 2019 May 16 14:17

    The AEC welcomes new chair, signs MoU with Arctic Council

    The delegates of the Arctic Economic Council (AEC) convened in Rovaniemi, Finland for their fifth Annual Meeting since the establishment of the organization in 2014.

    Heidar Guđjonsson of Iceland was welcomed as the new chair of the organization after a unanimous decision from AEC delegates. Guđjonsson takes over after Tero Vauraste (CEO, Mariadi Oy), as chairmanship of the organization shifts from the Finnish business community to the Icelandic businesses.

    “Having worked with Arctic questions for years, I am excited and honored to take over the chairmanship of the AEC”, said AEC chair Guđjonsson. “The Finnish business community with Tero Vauraste as their appointed representative has done a tremendous work these past years to broaden the scope of the AEC’s work. I am thankful for their commitment and their drive.” As Icelandic business community takes over the Chairmanship, the AEC will continue on the path laid by the new strategic plan (2019-2021) created under the Finnish businesses’ chairmanship.

    In addition to the transition of chairmanship, the AEC also elected a new Executive Committee, which will be led by Guđjonsson. Vauraste, Thomas Mack representing the Aleut International Association, and Evgeniy Ambrosov representing Russian businesses, will all continue in the roles of vice chairs. In addition, the AEC membership welcomed Geir Seljeseth from Norway as a new vice chair.

    “The changes in demography and international living standards call for more resource utilization and increased need for infrastructure. The significant changes taking place will also speed up the Arctic development. The Icelandic business community sees connectivity, data transfer and blue economy as important themes during its chairmanship. Blue economy contains an untapped potential which can significantly contribute to diversifying the economy and creation of new jobs in Arctic communities as well as helping feed the world with high quality protein”, says Guđjonsson.

    The AEC has endorsed the intent of the Arctic Investment Protocol (AIP), originally a product of the World Economic Forum Global Agenda Council on the Arctic. The work on these responsible investment principles will be a key issue during the Icelandic businesses’ chairmanship. “I firmly believe that universally applicable investment principles promoted by the people of the Arctic and their businesses can help promote both local inclusion, local content and also help facilitate investments in our region”, Guđjonsson says.

    During the Arctic Council Ministerial Meeting in Rovaniemi earlier this week, the AEC signed a Memorandum of Understanding (MoU) with the Arctic Council. The aim of the Memorandum of Understanding is to provide a framework for cooperation and to facilitate collaboration between the Arctic Council and the Arctic Economic Council. This strengthens the AEC’s position as the Arctic Council’s preferred partner in issues related to responsible economic development. “This marks a significant development in our mutual relationship and I am thankful to the Finnish Arctic Council Chairmanship for the excellent collaboration during our chairmanships”, says Tero Vauraste.

    “Being chair of the AEC has been an honor and privilege,” says outgoing AEC chair Vauraste. “The Finnish business community set out to strengthen the operations of the AEC and work on themes related to safe, competent and interconnected Arctic. During our chairmanship, we have also actively worked towards the global business community as linking the Arctic markets with the global ones is central for the development of our trade. We have also reacted to the recent development within international trade by actively promoting the need for freedom of trade,” says Vauraste. “I am excited to see the Icelandic business community taking the AEC’s work forward.”

    During the AEC’s Annual Meeting, the organization’s Working Groups on Maritime Transportation and Responsible Resource Development issued their reports. The AEC Maritime Transportation Working Group has worked under the leadership of Chairman Mikko Niini (Navidom). Their report “The State of the Maritime Transportation in the Arctic” provides an overview of the current status of maritime transportation in the Arctic and discusses challenges related to further development of the sector.

    The Responsible Resource Development Working Group’s report titled “Mineral Development in the Arctic” provides insights and an exchange of ideas around mineral development projects in the Arctic. The report is a consolidation of insights from a wide spectrum of Arctic stakeholders with a specific focus on mining in the North American Arctic. It includes feedback from companies that have developed Arctic mining projects and what made them successful, as well as from other stakeholders representing Indigenous groups, potential Arctic investors and government entities. The Working Group is co-chaired by Ms. Lillian Hvatum-Brewster (ATCO Group, Canada) and Mr. Bruce Harland (Crowley Maritime, USA) The report was formally launched at the Arctic Business Forum event on May 8.




2020 July 14

18:11 Wärtsilä contracted to deliver a scope of integrated solutions for CDWE's MIV
17:57 More States need to act on crew changes, says IMO Secretary-General
17:33 Throughput of Russian seaports in 6M’2020 climbed by 0.1% (detalization)
17:11 Alewijnse completes electrical installation TSHD Anchorage
16:46 Vladimir Putin signs the package of federal laws on the system of privileges in the Arctic
16:21 Mark Sickles named Interim CEO & Executive Director of DCA
15:55 Reconstruction of hydraulic facility No 9 of Tushinsky District’s HES obtains state expert approval
15:32 Green Yard Group takes over Kleven Verft business
15:04 Engineering and geological survey began for construction of Port Dalny terminal in Khabarovsk Territory
14:39 LISCR hires former USCG LNG expert to boost its global team
14:20 Young Russian sturgeon released to Volga as compensatory measure for dredging on Volga Caspian Canal
13:57 Rosmorport releases young keta salmon as compensatory measure for dredging in Shakhtersk
13:36 Straatman BV built solar-powered mooring systems for Port of Hamburg
13:12 ABB to power the world’s largest diamond recovery vessel for De Beers
12:48 Bunker prices are stable at the Far East ports of Russia (graph)
12:23 COMSAT bolsters Inmarsat network with increased C-band and L-band capabilities
11:55 IMO's informal discussions focus on cutting shipping’s carbon intensity
11:31 G3 Terminal Vancouver opens on Canada’s West Coast and transforms Canada’s grain supply chain
11:13 Further progress towards greener and safer ship recycling in Bangladesh reported at SENSREC meeting
10:50 Polish Ministry of Climate signs letter of intent on cooperation in the development of offshore wind energy
10:32 USCG investigates uninspected passenger vessel allision
10:07 Gdynia to be the installation port of Polish wind farms on the Baltic Sea
09:42 More information needed on the impacts of emissions trading in maritime transport
09:26 Oil prices decrease amid demand concerns
09:21 MABUX: Bunker market this morning, July 14
09:08 Baltic Dry Index as of July 13

2020 July 13

18:24 Canada joins Global Ocean Alliance
18:00 Interim report and independent audit of KS1437 Multipass Port project approved by related authority
16:59 Port of Ventspils (Latvia) handled 6.8 million tonnes of cargo in 6M’2020
15:32 Oboronlogistics ensures Northern delivery
15:04 Ørsted and Van Oord have successfully installed all array cables of the Borssele I & II offshore wind farm
14:21 Dublin Port throughput declines by 10.9% in the six months to June
13:53 FSUE Rosmorport’s revenue in HI’2020 grew by 6% YoY
13:30 Average wholesale prices for М-100 HFO grew to RUB 10,425 in RF spot market
13:04 CMA CGM announces FAK rates from Asia to the Mediterranean
12:41 CMA CGM announces FAK rates from Asia to North Europe
12:19 Tallinks’s vessel Romantika to offer two direct sailings from Riga to Helsinki this July and August
12:18 ISO releases environmental report assurance standard
11:55 NOVATEK reports preliminary operating data for the second quarter and first half 2020
11:32 KN increases the volume of biofuel handling
11:02 XELLZ acquires additional 100.000sqm to develop a Free Zone at Rosslare Europort
10:14 Gibdock completes an extensive two-vessel drydocking and maintenance project for returning customer Shearwater GeoServices
10:13 Port of Helsinki throughput in 6M’2019 fell by 9.2% to 6.6 million tonnes
09:58 The Fjords takes delivery of second all-electric passenger ship
09:49 Oil prices continue going down
09:32 RF Government to allocate RUB 320 million as support of shipping companies
09:10 Baltic Dry Index as of July 10
09:05 MABUX: Bunker market this morning, July 13

2020 July 12

16:21 Carnival Corp announces change in leadership team
15:38 UMS Skeldar gets contract to supply mine countermeasures drones system
15:23 Samson introduces the latest in mooring line innovation
14:19 Coast Guard halts 2 illegal charters near Star Island
13:41 Carnival Corporation's AIDA Cruises to restart sailing vacations in August
13:18 New OCIMF Committee structure
12:51 American P&I Club and ABS Consulting join forces to drive cyber awareness for maritime insurance
11:49 Royal Caribbean Group acquires remaining interest in Silversea

2020 July 11

15:28 Cox Powertrain celebrates as first 300hp diesel outboards roll off the production line ready for delivery
14:51 WCI names Tracy R. Zea as President & CEO
13:45 NOS expands its fleet with two additional M-Class vessels
11:37 Huisman to deliver 250mt Knuckle Boom Crane and 500mt Towing Winch for Nanhai Rescue Bureau