The Arctic as a bridge between Europe and Asia?
Both South Korea and China are working intensively on the development of trade corridors to Europe via the Arctic.
South Korea’s state-run Korea Ocean Business Corporation (KOBC) has announced the creation of an organization to explore the Arctic as a shortcut from Busan to Rotterdam.
KOBC highlights the Northern Sea Route (NSR) as a ten-day faster, fuel-saving alternative to routes via the Cape of Good Hope, calling it increasingly important amid Suez Canal disruptions and Red Sea tensions. The company plans to leverage government ties, maritime finance expertise, and networks with shipping firms, cargo owners, and shipbuilders to develop the NSR.
“Once the Arctic project is completed, we aim to turn southern Korea into a maritime finance and logistics hub,” KOBC said, citing plans to merge the ports of Busan and Ulsan with the shipbuilding sector to build an industrial cluster for ice ship construction, port operations, and sustainable marine fuels. A test container service through the Arctic is scheduled for 2026, according to Oceans and Fisheries Minister Jeon Jae-so.
Meanwhile, China’s port of Nanjing has launched its first Arctic voyage to Europe. On August 14, the 2,826 TEU Honwell departed Longtan Port with lithium batteries and car parts, reportedly bound for St. Petersburg. Nanjing officials called the Arctic “a golden waterway,” cutting Asia-Europe distances by over 3,000 nautical miles and offering new opportunities for trade.
This article is shared by courtesy of Hansa News Global https://hansa.news/
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