Maritime Insurance Research Articles

Application of coordinate systems for vessel trajectory prediction improvement using a recurrent neural networks

According to the Global Maritime Insurance annual report, among human and non-human risk factors, the number of accidents in maritime transport remains a significant issue. One of the factors is vessel collisions and anomalies at sea. Massive historical data from automatic identification systems are analyzed, and intelligent transportation systems are being developed to solve the problem of vessel trajectory prediction. The most ordinary attempt to improve accuracy is by evaluating the historical vessel behavior and learning the patterns and similarities of the predicted vessel movements. However, this paper shows that a better forecast also may be reached by choosing a different trajectory calculation strategy. The geographical or polar coordinate system values are used in a classical way, but several modifications, such as Universal Transverse Mercator (UTM), have been proposed in this study as an alternative to Mercator’s projection coordinates. Two main positioning of the vessels motion transformations were tested: by changing the coordinates to measurements of the angular distance (haversine) and displacement angle (azimuth) functions between different time steps; degree coordinates transformation into a Cartesian system using UTM with vector subtraction. The last case improves the accuracy of almost 30% in the available data sample by using the autoencoder architecture, compared to the longitude and latitude predictions even with computed delta features. The research generally compared three recurrent network architectures (with their hyperparameter – cell sizes): Autoencoder Long Short-Term Memory, Bi-directional Long Short-Term Memory, and Gated Recurrent Unit networks. The model calculations are performed in a real historical dataset, exclusively on cargo vessel type trajectories in the Netherlands (North Sea) coastal region. Also, the methods were validated in another dataset of the Baltic Sea Region.

POMORSKO OSIGURANJE U SREDNJOVJEKOVNIM DALMATINSKIM KOMUNAMA

The paper discusses the institute of maritime insurance in dalmatian medieval stat- ute law. The main purpose of this article is to analyse the regulations contained in Dubrovnik’s Ordo super assecuratoribus of 1568. The development and growth of both the Dubrovnik’s seafaring and maritime trade, as well as the progress of bank- ing and the abuse of the institute of general average had as a result the constituting of the institute of maritime insurance, which was more flexible and modernized. In the central part of the article, some maritime insurance issues in the Ordo super assecuratoribus are analysed, especially the specific provisions regarding the ship- and cargoinsurance, the seafreight, the negotiation of the insurance contract, the different premium, insurance-money, as well as the maximum amount of insurance, which was prescribed by the Committee provided for in this law. In the central part of the article the autors compare some maritime law issues concerning maritime insurance in medieval Dubrovnik to other statutes in the Dalmatian legal region. Keywords: maritime insurance, Ordo super assecuratoribus, dalmatian medieval statute law

Equiano's Shipwreck: Insurance, Risk and Peril in Plantationocene Oceans

Abstract: The 1767 shipwreck of the Nancy occupies a central place in Olaudah Equiano's Interesting Narrative (1789); as many scholars have noted, it is not only the literal centerpiece of the textbut also a foundational rhetorical moment central to Equiano's intertwining political and theological arguments. This essay offers a reading of the shipwreck scene as a politicized redeployment of one of the foundational concepts of maritime insurance law: the "perils of the sea." As maritime insurance emerged as a central institution for eighteenth-century capitalism, legal disputes repeatedly shaped and contested the category of "the perils of the sea": dangers considered to lie outside the scope of human agency, foresight, or fault. Most infamously, the "perils of the sea" lie at the heart of Gregson v. Gilbert , the legal case that resulted from the massacre aboard theslave ship the Zong . Through both his long career as a sailor and his personal involvement with abolitionist campaigns to publicize the Zong murders, Equiano would have been deeply familiar with the contours of maritime insurance law, and this essay reads the shipwreck scene as pivotally and critically engaged with the "perils of the sea" as a category shaping the emergence of financialized risk and its elision of other modes of thinking peril, vulnerability, and the contested border between human agency and environmental threat. While much recent work in the blue humanities has called for literary scholars to attend to the ocean as an irreducible materiality that challenges anthropocentric narrations of agency, this essay argues that the logic of maritime insurance, too, relied on the invocation of "the sea" as the sublime opposite of human agency, prudence, and riskmanagement. By engaging with the "perils of the sea" and its legal construction of "the sea" in opposition to human agency, Equiano detaches racialized distributions of risk, peril, and vulnerability from the naturalizing figuration of them as attributes of "the sea" and insists that risk itself be an object of abolition struggle.

Underwriters of the United States: How Insurance Shaped the American Founding by Hannah Farber

Reviewed by: Underwriters of the United States: How Insurance Shaped the American Founding by Hannah Farber Jessica M. Lepler Underwriters of the United States: How Insurance Shaped the American Founding. By Hannah Farber. Published for the Omohundro Institute of Early American History and Culture. Williamsburg, Va., and Chapel Hill: University of North Carolina Press, 2021. 349 pages. Cloth, ebook. If you insure an early American mercantile voyage, make sure to stow some cats on the boat; legend suggests you may need to literally put your "Catts in a bag" (246 n. 9) as evidence that you took the customary feline precaution against rats.1 You will not find this term in your insurance policy, but you will be expected to know it as part of the lex mercatoria—the purportedly universal, unchanging, and unspoken "laws of merchants" (19) that governed trade and maritime risk in the eighteenth and early nineteenth centuries. You, dear reader, will need this tip because, in Hannah Farber's Underwriters of the United States, "you" are a character. This powerful new book about the hidden role of marine insurance in the establishment of the United States begins with a prologue written in the second person that explains how you—in the shape of a fictional, wealthy, white, male, married, Bostonian shipowner of 1800—manage the risk of a round trip to the Caribbean. Sailing the seas during the first half century of U.S. national history meant navigating a world at near-constant war. To insure against wartime spoilation—when a combatant illegally seized neutral ships and cargo—as well as more predictable damage (like that caused by rats), merchants pooled the risk of their community's voyages, gathered information, and signed contracts securing each other's assets. The process could be called "underwriting" (13), a term that also meant supporting an undertaking. The people and companies who underwrote the seafaring risk of American merchants—a group Farber describes as "marine insurers" (13)—are the subject of Farber's study. Despite a few intriguing case studies of famous (or infamous) insurers such as the revolutionary "financier" (14) Robert Morris or the scandal-prone Jacob Barker and his associates, however, this is not really a history of individuals or their companies.2 Farber's book, in her terms, is [End Page 467] about "a practice, not a class" (22), and prioritizes questions of "how" over "why" or "who." The practice that most interests Farber includes the range of techniques insurers used to engage in an unusual kind of "regulatory capture" (22) in which the industry predated the polity. For centuries, insurers acted within, beyond, and around the laws of countries to enforce the lex mercatoria's control over maritime trade. In the Age of Revolutions, when the sovereignty and stability of states were up in the air, the governmental role of insurers became especially apparent because insurers' governance of the seas was often more solid than the laws of the land. Shifting their practices to accommodate changing contexts, insurers employed the tools of their trade "opportunistically" (21) to assist in ushering the new United States into existence and solidifying its sovereignty. Accordingly, Farber describes the development of both the U.S. maritime insurance industry and the nation state as a "process of coformation" (22). Farber couples this big-picture analysis of "state making" (21) with the investigation of the everyday practices that constituted the early American insurance business. For example, she considers how insurers "wielded numerical calculations as weapons" (24). The mere suggestion that insurers' rates were based on complicated mathematics could convince customers and concerned citizens not "to question their decisions" (25). Appearing to be objectively actuarial, insurers could hide profit motives and political interests behind their seemingly mundane practices of quantification. This kind of everyday insurance practice is immediately foregrounded by Farber's second-person prologue. These first eleven pages also establish the purpose of the book for two different sets of readers of early American financial history. For one, the prologue explains the complex maritime insurance industry in a format accessible enough to be assigned to undergraduates. Meanwhile, for those immersed in the field, the book's opening section positions Underwriters of...

LABOUR COMPENSATION STRATEGIES/PRACTICES OF MARITIME INDUSTRY-DISCUSSION ON CRITICAL CASES

This study would be significant, especially for Trade Unions and shipping lines, and to make newcomer professionals more aware of the nature and alternatives available for labour compensation. This paper contributes to readers’ empirical and practice insights on maritime labour, law and professional practices, including management issues and implications. In addition, professionals involved in maritime labour matters like maritime lawyers, mediators, Insurance professionals and Trade Unions. Practically, this paper is structured as a teaching case study. It provides case-related descriptions, industry practices, legislative frameworks, and fundamental teaching rights facilitating as a teaching material, especially for domains on labour tribunals, maritime law, and labour compensation in related human resource aspects. The following objectives were taken into consideration in this teaching case study paper: to follow and assess the gaps where legislation has to meet to receive compensation for seafarer families; to create awareness of the current situation regarding compensation; to determine the future recommendations to make Union work more strategic. This teaching case study would observe the gap between the legislation and what is occurring in the practical scenario after seafarer recruitment during compensation policies. To present this case study, several relevant institutions, programs and scientific research were considered to increase union efficiency. The main conclusion of this paper highlights the importance of the union and the other programs, policies and strategies that should be adopted to make awareness of these issues.

Jurisdiction in Maritime Insurance Claims: A Review of Liverpool and London Steamship Protection and Indemnity Association Limited V. M/T Tuma

Jurisdiction in Maritime Insurance Claims: A Review of Liverpool and London Steamship Protection and Indemnity Association Limited V. M/T Tuma

Run Gauntlets or Pay Pirates? Regulating Vessel Speeds in High-Risk Waters

Maritime commerce in world commerce. Each year, vessels carry more cargo at higher costs and faster speeds. Insurance is an integral part of shipping, as it protects cargoes and crews against the perils of the sea. This article focuses on the peril of piracy, a criminal practice that has evolved significantly throughout history. Pirates today, as pirates of the past, prey upon the unprotected. Yet, modern piracy, unlike historical piracy, is essentially non-violent. The modern pirate profits from ransom, not theft. Today, piracy is a monetary risk with compu­­­table consequences: an insurable threat. Anti-piracy methods, including insurance, impose steep costs to world trade. In the past decade, pirate activity has declined while piracy insurance has grown more expensive. This phenomenon is problematic, but an industry-wide solution is a challenging construct. To handle the costly risks of piracy is to balance the distinct and competing interests of ship-owners, insurers, operators, and governments. As this Article argues, insurance can more efficiently mitigate piracy’s puzzling risk. After discussing maritime piracy and maritime insurance, this Article outlines the legal and regulatory schema for a system to mandate the speeds of vessels that transit pirate-prone waters. The proposed regulation is mechanically sound, logistically feasible, cost-effective, and enforceable. To diminish the costly risk of piracy, this Article proposes revising a treaty to afford the International Maritime Organization (IMO) jurisdiction to regulate vessel speeds on the high seas.

FUNDAMENTAL PRINCIPLES OF MARINE INSURANCE

The article describes the fundamental principles of marine insurance. It mainly examines the principle of "utmost good faith" which is the cornerstone of insurance law. The main aim of an article is to help the reader to gain basic knowledge and understanding of the legal principles of marine insurance. The fundamental principles governing marine insurance are very helpful in the assessment of loss and the claim in the maritime insurance industry. As in all contracts of insurance on the property, also marine insurance contract is based on the fundamental principles. Key words: marine insurance, Marine Insurance Act 1906, principles of marine insurance, utmost good faith, insurable interest

Accounting and insurance in the early modern age

This article aims to offer, through the use of sixteenth-century accounting sources, a contribution on a crucial issue for the development of Mediterranean transports and trades of the early modern age, such as the maritime insurance. The research focuses on the importance and high information potential of accounting records, even in this real economy sector. It analyzes a business case in one of the main maritime centers of the Mediterranean area, the city-state of Ragusa (present-day Dubrovnik), and is concerned with investigating the insurance activity of a Dubrovnik merchant. Through the analysis of the accounting records, in addition to the business dynamics and the economic and fiduciary relationships occurred between the merchant and the other actors of the security contract, aspects related to the insurance management, profits and losses of the same are taken into consideration. In addition, the relevance and close connection of insurance with the businesses and the ship owners’ interests of the company is also considered.

Empresas militares e de segurança privada nos mares: novos posicionamentos sobre os serviços de proteção armada contra a pirataria

Refletindo uma responsabilidade estatal pela segurança marítima estabelecida há pelo menos um século e meio, posicionamentos contrários à proteção armada de embarcações civis foram sustentados por diversos stakeholders do transporte marítimo. Contudo, nas duas últimas décadas, o ressurgimento da pirataria e do roubo armado contra navios promoveu a prestação de serviços de proteção armada por empresas militares e de segurança privada (EMSPs), primeiro no Sudeste Asiático e depois no Chifre da África. No segundo caso, o fenômeno provocou mudanças nos posicionamentos anteriormente contrários à prática, notados pela literatura especializada de maneira fragmentada e genérica. Este artigo revisa essa literatura com o objetivo de explorar o modo como novos posicionamentos foram estabelecidos diante do maior protagonismo assumido pelas EMSPs, analisando as condições e a direção dessas mudanças. O trabalho identifica um ponto de inflexão nos posicionamentos de algumas das principais associações da indústria de transporte marítimo, do maior mercado de seguros marítimos, da Organização Marítima Internacional e dos Estados de bandeira e costeiros.

Resolution of Disputes From Marine Insurance Contracts In the Practice of the Maritime Arbitration Commission at the Russian Chamber of Commerce and Industry

Maritime insurance disputes usually involve many complex legal and factual issues. Resolving such disputes requires special knowledge in maritime insurance law and merchant shipping. Maritime Arbitration Commission at the Russian Chamber of Commerce and Industry (MAC) has a vast experience of resolving such disputes. The procedure in the MAC meets the standards of good international practices, and insurance disputes are resolved under its auspices by highly competent professionals.

From the Black Atlantic to Black-Scholes

Rather than being unprecedented, contemporary technologies are the most sophisticated instances of a long-standing dream: if space could be more comprehensively captured and coded, it could be more intensively capitalized. Two moments within this lineage are explored: maritime insurance of slave ships in the eighteenth century, and the Black-Scholes model of option pricing from the twentieth century. Maritime insurance rendered the unknown space of the ocean knowable and therefore profitable. By collecting information at Lloyds, merchants developed a map of threat within the Atlantic, and by writing a 10 percent buffer into slave-ship contracts they internalized contingency. This codification of risk pressured captains and established a logic for the violence enacted on the ship’s human “cargo.” The Black-Scholes formula of option pricing sought to codify the ocean of risk represented by the financial market. The formula mapped stock movements into a knowable stochastic equation. Traders could quantify and hedge against the unpredictable, rendering the stock market a space of riskless profit. However, the 2008 financial crash demonstrated the limits of spatial calculation. Taken together, these two moments demonstrate the historical continuity of a core imperative to exhaustively capitalize space. This historicization also foregrounds the racialized inequalities coded within these informatic logics. Against the bright innovation narratives of technology, this article stresses a longer and darker lineage based on inequality and dispossession.

“Sing the Bones Home”: Material Memory and the Project of Freedom in M. NourbeSe Philip’s Zong!

M. NourbeSe Philip’s 2008 book-length poem Zong! represents maritime materialities below the sea’s surface in relation to aesthetic geographies of the sea in the aftermath of slavery as an abyss of loss, thereby extending modernist aesthetics while offering a strategic and revisionary response to male-centered modernist writing. Keen attention into the sea as an innovating and renewing source reveals that the poem imagines the sea as a literal, formal, and thematic agent for the “decontamination” of language—which, Philip maintains, is contaminated by imperialism—and of the received history about slavery. The poem focuses its investigation on the case of the 1781 Zong massacre and the Gregson v. Gilbert maritime insurance case that arose in its wake. Zong! mourns the massacre of 150 Africans who were thrown overboard so that owners of the slave ship could collect insurance money on lost “cargo”. In conversation with Caribbean poets and thinkers, such as Grace Nichols, and African oral traditions, the poem explores forms of memory that go beyond the non-history officially afforded to the enslaved and their descendants. Throughout the poem, the sea is a site of decontamination through which Zong! stages its attempt to recover the unrecoverable. While many scholars have understandably focused on the events aboard the ship, a small number of ecocritical readings have highlighted the poem’s engagement with the materiality of the sea. Drawing on postcolonial ecocriticism and black feminist theories of the human, this article will discuss the sea as a material geography, going deeper to investigate the poem’s rarely discussed focus on biological and chemical materiality as juxtaposed to representations of black women’s flesh, arguing that it functions as a feminist provocation to both human exceptionalism and the racial boundaries of the human.

The Utmost Good Faith in Maritime Insurance: The Nature

The Marine Insurance Act 2015 (UK) marked the start of a contemporary period for insurance law because the Act improved the regime for the duty of good faith by transitioning to the duty of fair presentation from traditional doctrines of utmost good faith in the Marine Insurance Act 1906 in the UK. While the obligation of utmost good faith made up the firm cornerstone of insurance law in the past, it has not been an extensive and all-encompassing duty because the nature of uberrimae fidei in insurance contracts has already changed lately. This essay introduces briefly the evolution of uberrimae fidei in marine insurance law and analyses the nature and its dilemma. By comparing the relationship between good faith and the utmost good faith, upon further analysis, the reason why the obligation needs current reform is the downturn of international trade from the macro-level perspective. Moreover, from the micro-level perspective, legal requirements between the subjective state of the insured and the duty of the “fair presentation” are radically different. All in all, though the utmost good faith laid a solid foundation on insurance law, the “fair presentation” in the 2015 Act is more obviously applicable to counterpoise the benefits of the insurer and the insured, which is regarded as insurance relationships’ fresh core. Therefore, nowadays this reform is a success on a fair and reasonable legal basis, and it reduces insurance obligations of the insured traditionally to boost the prosperity of the marine insurance business currently.

ВИЯВЛЕННЯ РОЛІ ЛЮДСЬКОГО ФАКТОРУ В АВАРІЙНОСТІ МОРСЬКОГО ТРАНСПОРТУ

Maritime insurance statistics show that the human factor caused about 60 % of accidents worldwide. Based on a review of the literature, where the «human factor» is considered, it is established that there is no unambiguous and generally accepted understanding of this term, therefore it is freely interpreted in studies. That doesn't allow it to put into practice. There is also no established set of certain impacts of the human factor, which It presents a problem in the developing recommendations for the prevention of dangerous situations. Conducting effective research requires a transition from the indeterminate category of «human factor» to the identification and study of its specific impacts on the beginning of emergency threats. The most complete information can be obtained from reports that are prepared in Ukraine as a result of investigations into the circumstances of maritime accidents. It is not enough to limit the qualification of personnel errors in the investigation of maritime accidents. It is important to study the background and root causes for error prevention. The following factors are considered to determine the execution of certain actions by the crew members: availability of theoretical knowledge in accordance with regulatory requirements; possession of skills to perform the required actions (professional competence); situational psychophysiological state; additional circumstances. It is shown that the total impact of these factors determines the error of personnel actions. Unlike the three main factors that continually cause action, additional circumstances have an episodic impact. This influence alone can negate the potentially expected positive result. An illustrative example is the misperception of teams due to their poor command of English. Reduction of risks and probability of emergency situations is possible under condition of individual theoretical and practical training at the proper level, full staffing of the crew according to the requirements, compliance with the standards of floatation crew engagement.

La reforma a la ley inglesa de seguros – The Insurance Act 2015- comentarios preliminares con especial referencia a las modificaciones en materia de garantías (Warranties)

El presente artículo busca acercar al lector comentarios preliminares sobre ciertos aspectos destacados de la nueva o última Ley inglesa de seguros, la Insurance Act 2015, en vigencia desde agosto de 2016, en especial las modificaciones que la misma imprime al régimen de garantías, o warranties. La icónica Ley marítima inglesa de 1906 ha quedado en consecuencia reformada y estas novedades no pueden pasar desapercibidas. Esto ya que las leyes inglesas de seguros, aplicables en su medida a los seguros marítimos, son siempre un referente no solo de derecho comparado, sino por influir en sistemas tan aparentemente distantes como los de Argentina y Uruguay, dada la fidelidad de los mercados mundiales de seguros marítimos a la legislación inglesa en la materia.

El negocio de los seguros marítimos en Cádiz a finales del siglo XVIII

Los seguros marítimos eran un negocio marginal en la Península Ibérica durante los siglos XVI al XVIII. A finales de este último siglo suscitarán el interés de los inversores, y generarán un mercado más importante. Este mercado nacional se localizó en la plaza de Cádiz entre 1780 y 1800, donde operaban casi un centenar de compañías, fundamentalmente españolas, que contrataban seguros para todo tipo de destinos. Para elaborar este artículo he utilizado una copia de los registros que los corredores de lonja gaditanos realizaron en el año 1796. Aunque se trata de un año afectado por una coyuntura pre-bélica, el analisis de las pólizas aporta datos interesantes sobre la práctica del seguro, al tiempo que ratifica el creciente papel financiero que adquirió la ciudad de Cádiz a final del siglo XVIII.

The Point of Contact between Maritime Insurance of Portugal and Nagegane (System of Bottomry) of Japan in the Age of Great Voyage

The Point of Contact between Maritime Insurance of Portugal and Nagegane (System of Bottomry) of Japan in the Age of Great Voyage

Making Sanctions Smart Again: Why Maritime Sanctions Have Worked against North Korea

Making Sanctions Smart Again:Why Maritime Sanctions Have Worked against North Korea Robert Huish (bio) Following a period of escalating tension between the United States and the Democratic People's Republic of Korea (DPRK), in which the Kim regime conducted a series of ballistic missile and nuclear tests and the Trump administration pursued a policy of maximum pressure, Donald Trump and Kim Jong-un met for a historic summit in Singapore on June 12. What changed to bring the two leaders together? The main reason North Korea sat down at the bargaining table was not sports diplomacy at the Winter Olympics or Trump's Twitter barrages. It was that the country is out of resources as a result of the international maritime sanctions.1 These sanctions have worked, and worked well, by targeting the environment on which the Kim regime depended to acquire belligerent materials. The 2017 maritime sanctions against North Korea, particularly U.S. Executive Order 13810 and UN Security Resolution 2397, worked for three reasons.2 First, owing to its unique geography, North Korea was almost entirely dependent on illicit maritime trade for its weapons programs, which stands in contrast to long-held claims that most military hardware came overland from China.3 Second, some argue that North Korea's already hollowed-out, authoritarian economy created an "inner isolation" among most of the country's nearly 26 million inhabitants.4 Sanctions are often responsible for increased suffering; however, most North Koreans survive through limited self-sufficiency or black markets that are often unaffected [End Page 42] by formal sanctions or the country's international economic environment. Third, sanctions that targeted foreign companies, in particular maritime insurance companies that may have provided protection and indemnity (P&I) insurance to North Korean vessels, provoked a swift reaction by the insurers to absolve themselves from dealings with North Korea. The important message of the sanctions imposed in 2017 is that this focus on pressuring the maritime industry led to a noticeable behavioral change in North Korea. The remainder of this essay examines what lessons about the efficacy of smart sanctions can be drawn from the case of maritime sanctions against North Korea. The next section will describe the 2017 sanctions from a maritime standpoint and analyze why they worked. The essay concludes by considering the potential to effectively apply similar sanctions to other targets. Have You Been to Sea? To understand why maritime sanctions worked so well against North Korea, two issues must be discussed. First, what are effective sanctions? And second, what role does China play in enabling North Korea to outsmart sanctions? For years, the international community made two major errors in dealing with North Korea. Many experts believed, first, that any sort of sanction would be a good measure against the Kim dynasty and, second, that China is the sole provider of resources, including military resources, to North Korea. Both of these claims are problematic. Sanctions aim to encourage a behavioral change of a target nation or its leadership. Traditional, or "dumb," sanctions either prohibit the target from any financial dealings with the issuer's market or seize the target's assets in the issuer's territory. Such ham-fisted sanctions often do more to further the suffering of the population than apply pressure on the leadership. In the 1990s, then secretary-general of the United Nations Kofi Annan encouraged the use of "smart" sanctions in order to overcome such blunders. Speaking in hindsight of the tragedies in Iraq, the Balkans, and East Africa, Annan argued that economic policy could be crafted so that despotic leaders are pushed toward behavioral change given that their own personal assets were at risk.5 In the 1990s this logic made sense because many dictators had offshore assets that could be directly targeted. Even so, many tyrants, including members of the Kim dynasty, managed to acquire [End Page 43] luxury goods and odious resources through shady networks involving fake currency production, narcotics trafficking, weapons smuggling, and insurance scams. Moreover, sanctions did not deter the Kims from pursuing nuclear tests or overseeing brutal human rights violations. One of the faultiest assumptions about North Korea in the international relations literature was that North Korea...

Current status and future operational models for transit shipping along the Northern Sea Route

The Northern Sea Route (NSR) has received increased international attention during the recent years as an alternative transit corridor for shipping between Europe and East Asia. In 2015, the project “Feasibility and Reliability of Shipping on the Northern Sea Route and Modeling of an Arctic Marine Transportation & Logistics System” was established to perform a comprehensive analysis of the current status and future prospects of NSR transit shipping. The project brought together several partners and numerous participants representing industry, governmental bodies, and research groups from Europe, Asia, and Russia, thus providing a unique and comprehensive overview of the subject. This paper is based on the insights gathered during the project. Firstly, it provides a comprehensive overview of the NSR's current regulations and support services. Secondly, it combines the information on the current status of the route with feedback received from the stakeholders during project discussions for the purpose of establishing several possible future operational models for transit shipping along the NSR. It is concluded that the most probable of the analyzed operational models is a combination of ice-strengthened vessels and independent ice-going cargo vessels. This model requires a decrease in severity of ice conditions to allow for year-round commercial navigation, an increase in bunker prices, further development of maritime infrastructure and icebreaking support, and the development of new maritime insurance models. Additionally, establishing transshipment hubs at each end of the NSR with ice-going cargo vessels sailing between them is also considered to be a viable future option.