"With Ulsan Port as a Hub"... Ulsan Port Authority Signs Tripartite Agreement with Global Shipping Company [The Arctic Opens]

Three-Way MOU Signed with Royal Wagenborg and Korea Maritime Promotion Corporation
Up to Four Arctic Route Vessels to Call at Ulsan Port This Year

Jaeyoung Byun, President of Ulsan Port Authority, signed the three-party Memorandum of Understanding (MOU) for the promotion of the Arctic route with Royal Wagenborg and the Korea Marine Promotion Corporation on the 20th. Ulsan Port Authority.

Ulsan Port is preparing for the commercialization of the Arctic route by cooperating with global shipping companies. This year, up to four vessels transiting the Arctic route are expected to call at Ulsan Port to refuel and offload cargo.

According to the Ulsan Port Authority on August 24, a tripartite Memorandum of Understanding (MOU) has recently been signed in writing with the global shipping company Royal Wagenborg and Korea Maritime Promotion Corporation (KOBC) to promote the utilization of the Arctic route.

This agreement aims to foster Ulsan Port as a major hub for the Arctic route, in line with the Korean government’s national agenda of "Establishing Korea as a Leading Maritime Power in the Era of the Arctic Route." The plan is to promote commercialization of the Arctic route while diversifying maritime logistics networks between Korea and North America.

Royal Wagenborg, a Dutch shipping company participating in this MOU, has accumulated extensive experience in Arctic navigation. As of 2025, it has achieved 48 commercial cargo transports along the Northern Sea Route, the highest number in the world.

The three organizations will work together to increase the number of Arctic route vessels calling at Ulsan Port and expand the supply of environmentally friendly fuels. They have also agreed to share information and experience related to Arctic route operations, and to support the development of a domestic Arctic route operations manual and the accumulation of navigation expertise.

The parties will jointly identify potential cargo demand between Korea and North America and explore ways to connect this demand with actual Arctic route operations. They also plan to collaborate on securing ice-class vessels suitable for Arctic navigation.

Specifically, as a result of this agreement, up to four vessels transiting the Arctic route are expected to call at Ulsan Port this year. These vessels will be refueled and will offload cargo at Ulsan Port.

Among Korea’s ports, Ulsan Port has relatively extensive experience handling vessels operating on the Arctic route. Over the past 10 years, there have been a total of 18 Arctic route vessel calls at Ulsan Port, making it the most in the country. By route, there have been five calls via the Northeast Passage and 13 via the Northern Sea Route.

Byeon Jaeyoung, President of Ulsan Port Authority, stated, "This agreement will provide a practical foundation for implementing the government’s Arctic route policy. We will contribute to strengthening the Korean shipping industry’s capabilities in Arctic navigation and enhancing port competitiveness."

This content was produced with the assistance of AI translation services.