According to the Xinhua News, COSCO Shipping Co., Ltd. a subsidiary of the COSCO Group has initiated a plan to test the new sea route, the Arctic Northeast Passage, by dispatching a commercial ship from Daliab to Europe. The Yongshebg Ship (永盛轮) departed the Dalian Port on 8th August local time and it is scheduled to arrive at the port of Rotterdam on September 11th. The voyage will take about 2,936 sea miles crossing the Bering Strait, Chukchi Sea, East Siberian Sea, north of the Novosibirsk Islands, Laptev Sea, Vilkitsky Strait, Kara Sea, Barents Sea and reach North of Norway.
From the perspective of the maritime transport efficiency, the Arctic waterway route can reduce the time of transport by 12-15 days compared with the conventional route. Thus the Arctic waterway is known as the “golden waterway.” Once the Arctic “Golden Waterway” is opened, the world maritime transport structure will undergo major changes, China will be more closed to the European and North America markets. The opening of the Arctic route will reduce ship fuel consumption and carbon dioxide emissions helping to improve the energy efficiency, reduce operating costs and expand business efficiency.