Arctic Shipping a Reality for Asia
As Western firms wait to for Arctic shipping to show its worth, Asian countries are already betting on the emergence of an Arctic economic rim, reports The Arctic Journal.
For centuries, a harsh climate and ice-choked seas dashed the dreams of sailors attempting to cross the Canadian Northwest Passage between Asia and Europe. Now, thanks to climate change and reduced ice cover, the trip isn't nearly so daunting, says Bloomberg.
Last weekend, the Crystal Serenity, a luxury cruise ship, carried a record thousand-plus passengers and crew through the passage. Next year, it'll do the same.
“The opening of the Arctic to shipping is fait accompli. What remains is to make sure that it can be done safely and without damaging the environment,” Arctic Journal quoted Chan-woo Kim, South Korea’s ambassador for Arctic affairs as saying.
Kim’s bullish outlook on Arctic shipping was typical of representatives from Asian countries during last week’s Arctic Circle, a major annual conference that attracts a significant number of high-profile attendees from outside the region.
Accoding to a study titled "Arctic shipping - Commercial opportunities and challenges" by Copenhagen Business School, following these changes in the Arctic environment, the last decade has seen an influx of maritime activities in the segments of liquid bulk shipping, offshoring and cruise tourism.
The Arctic is one of the last frontiers on our planet and consequently the need to shed light on marine activities in and around the Arctic Ocean has arisen.
Arctic shipping has received more attention from Asian shipping firms than from big Western shippers. This, say those in the industry, is partly due to geography and a larger volume of commodities being sailed towards Asia.
Another reason is a long-term outlook made possible by better co-ordination with authorities, particularly in the case of Cosco, a Chinese state-owned firm. Cosco has been involved in gradually more ambitious efforts to sail and ship goods on the Northern Sea Route.
Russia has also tried to open up the Arctic to international traffic by offering icebreaker service and better port facilities.
