Feasibility of alternative maritime trade route (Northern Sea Route) given the geopolitical situation

• Main Author: Mok, Shu Yin
• Other Authors: Teo Chee Chong
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2023
• Subjects: Engineering::Maritime studies
• Online Access: https://hdl.handle.net/10356/172623
• Institution: Nanyang Technological University

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.