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Tuesday, July 15, 2014

Melting Arctic Ice Opens New Shipping Channel for Petroleum Products

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In a move that blatantly disregards the impacts of climate change, shipping companies are taking advantage of melting Arctic ice to cut transportation times for petroleum products. Channel News Asia reports that Japanese shipping company Mitsui O.S.K. Lines recently announced plans to create the world’s first shipping route through the Arctic Ocean starting in 2018. The company would be mainly shipping liquefied natural gas (LNG) from Russia’s Yamal project to markets in Europe and Asia using three specially designed icebreakers for transport. The route is expected to trim 10 days of travel time from the current route through the Suez Canal.


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