Feasibility of alternative maritime trade route (Northern Sea Route) given the geopolitical situation
Shipping is important to global trade as it carries 90% of the world trade by volume and shipping is affected by maritime trade routes. Yet, maritime trade routes are vulnerable to unfavorable geopolitical environments and accidents. They affect shipping companies’ decision-making in selecting the...
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| Format: | Final Year Project |
| Language: | English |
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Nanyang Technological University
2023
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| Online Access: | https://hdl.handle.net/10356/172623 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | Shipping is important to global trade as it carries 90% of the world trade by volume and shipping is
affected by maritime trade routes. Yet, maritime trade routes are vulnerable to unfavorable geopolitical
environments and accidents. They affect shipping companies’ decision-making in selecting the maritime
trade route. As global temperatures are rising due to global warming, the Northern Sea Route (NSR)
becomes more accessible and may become the alternative to the Suez Canal Route. Thus, this report
analyses the geopolitical environment in the Arctic (China-Russia Cooperation) and its impact on the
NSR. From the analysis, the results can be used to evaluate how well the China-Russia Cooperation
affects the development of the NSR. The improvements made in the NSR, increase the value of the
NSR thus allowing the NSR to be an alternative to the Suez Canal. |
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