Global Markets
Home›Global Markets›Trade & Tariffs›India eyes Arctic Northern Sea Route pilot as shipping…
India eyes Arctic Northern Sea Route pilot as shipping heats up
India’s shipping ministry official said a pilot vessel could run through the Northern Sea Route in 2027, citing growing opportunities despite ongoing conflict and climate change.
Climate change and conflict are helping open the Arctic to more commercial shipping, as Asian countries position themselves for shorter routes between Asia and Europe, according to SCMP Economy.
India, along with China and South Korea, is looking at the Northern Sea Route as an alternative corridor for container traffic, with a Chinese shipping company launching a scheduled weekly container service across the Arctic, marking progress toward the so-called Polar Silk Road.
SCMP Economy reports that a joint secretary in India’s shipping ministry, S. Venkatesapathy, told an Arctic-Regions Forum in Arkhangelsk, Russia, on August 13 that India is planning a first pilot vessel through the Northern Sea Route in 2027 and sees significant potential in the route.