Strait of Hormuz crisis opens new interest in Arctic route for Asia-Europe trade

The Arctic route could significantly cut shipping distances and costs: The Northern Sea Route could shorten the journey by 30–40% compared with the Suez Canal and by about half compared with the Cape of Good Hope route. It could reduce fuel use, costs and transit times, although its commercial use remains limited by seasonal ice, … The post Strait of Hormuz crisis opens new interest in Arctic…