Shipping Prospects Heat Up in the Arctic
MARCH 23, 2018
While relatively little cargo currently passes through the Arctic, traffic through the region is likely to increase over the next decade as shippers take advantage of freshly-thawed routes. With approximately 70 percent of the world's trade currently transported via sea lanes, the potential benefits are significant. For the time being, ice-breaking cargo ships (capable of operating in ice up to four feet thick) will continue to have the strongest presence in the region.