Melting Arctic ice enables opening of new shipping lanes
Could global climate change have a silver lining — in the form of improved international trade? Perhaps, if the fabled Northwest Passage finally becomes a reality.
For centuries, navigators and traders have wondered if there was a viable way of getting shipping from the Atlantic to the Pacific via the waters above current-day Canada and Alaska and through the Bering Strait. There is also the Northern Sea Route, which hugs the northern coast of Russia. Shipping on that route, however, is limited and requires vessels with specialized, heavy icebreaking equipment.
The Northwest Passage has historically been ice-bound for all but a small window of time during the brief Arctic summer. But researchers now say warming temperatures in the Arctic Circle are allowing more ships than ever to successfully pass through the region.
And a new study suggests there could be viable shipping Arctic shipping lanes by mid-century. UCLA geography professor Lawrence Smith says an open Northwest Passage, requiring only light icebreakers, would allow a ship to travel from the east coast of North America to the Bering Strait in 15 days — compared to 23 days for the Northern Sea Route.
While an obvious environmental concern, the melting Arctic ice could be blessing for trade.Currently, most shipping between the Atlantic and Pacific goes through two man-made shortcuts — the Suez and Panama canals.
The canal handles about 14,000 vessels annually and is undergoing a $5.25 billion expansion project, expected to be completed in 2015. But it’s still too narrow for many of today’s modern freighters and oil tankers. And rising demand for use of the Panama Canal is creating traffic bottlenecks there.
While there are also concerns about a new Northwest Passage creating new environmental problems, such as the unintentional importation of dangerous invasive species and accidental spills.
Source: Bruce Kennedy , Money Now
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