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Tag Archives: Vladivostok (Russia)

Sewol Disaster Hits Japanese Local Economy

The April 16 tragedy of the MV Sewol in the territorial waters of South Korea has been exercising an impact on the local economy of Tottori Prefecture. This has occurred mainly due to the fact that the accident, in which more than three hundred people appear to have lost their lives, has deeply undermined the South Korean public’s faith in the safety of ferry boats.

Gazprom Tanker Breaks Through to the Pacific

In the midst of Japan’s energy woes, prompted by the Fukushima disaster and reinforced by the uncertainty arising from the tensions in East Asia, the arrival for the first time of a Liquefied Natural Gas (LNG) tanker through the Arctic Ocean and into the Pacific Ocean offers hope and the chance to diversify away from the sea lanes Tokyo currently relies upon for the bulk of its energy imports. This is possible thanks to the gradual melting of Arctic Ocean ice, technological developments, and Russia’s policy of energy export diversification.