The latest research shows that the Arctic region is heating twice as fast as the rest of the world. It is expected that in the next decade or so, there will be an ice-free summer in the Arctic.
The practice of scientific research also proves that the opening time of the Arctic channel is much longer than before. If this trend continues, the Arctic waterway will take on more and more cargo transportation.
By using the Arctic waterway, shipping companies can reduce shipping time between Europe and Asia by a third. This will greatly reduce fuel costs.
However, the sinister natural conditions in the Arctic, such as extreme low temperatures and heavy fog, may cause serious freezing of equipment. This means that shipping companies must increase their investment in ships.
“Boats using the Arctic waterway must reinforce the hull and adjust the propulsion system,†Eriksen said. “This is a future business opportunity for Chinese shipbuilders.â€
The Arctic waterways did attract the interest of shipping companies, but so far these companies have adopted a calm attitude.
The Danish Maersk Line, which has the largest cargo volume in Europe and Asia, said that they have not found any "direct commercial viability" for the Arctic channel. But at the same time, it shows that the company will "closely observe the further development of the situation."
Among Chinese shipping companies, only COSCO Group has shown interest in the Arctic waterway. In September 2012, Wei Jiafu, chairman of COSCO Group, visited Iceland and hoped to strengthen cooperation in the Arctic waterway. However, COSCO has not taken any further action since then. According to insiders of the company: "COSCO has no plans for the Arctic channel recently."
On the other hand, Chinese shipbuilding companies are also closely watching the market's movements. China Shipbuilding Heavy Industry Co., one of China's largest state-owned shipbuilding groups, said that the current orders for icebreakers (ship-type shipyards) and reinforcement of cargo ships have not increased significantly.
“But we are already preparing for the design and construction of the equipment. As long as there is demand in the market, we can start construction right away,†said CSIC.
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