Chinese container company Sea Legend Shipping will launch the first Arctic shipping route named "Ice Silk Road" this week, sailing along Russia’s Northern Sea Route from China's Ningbo to the UK’s Felixstowe, the Financial Times reported.
This came as the shipping situation in the Persian Gulf and the Red Sea deteriorated, and the ongoing decline in Arctic sea ice has made the Arctic route a new shipping option amid geopolitical risks.
Traditional Europe-Asia routes require a transit time of 40 days, while the voyage can be shortened by up to half through the new Arctic shipping route during the summer melting season, the report said.
Russia's state nuclear giant Rosatom, operator of the Northern Sea Route via the Arctic, confirmed it had issued permits for Sea Legend to sail to Europe via the Northern Sea Route.
Last year, there were 23 transits of containerships via the Arctic on record, up from 15 transits in 2024.
