To complement its string of pearls: China eyes the Bering Strait and Russian coastline to solidify access to the European market worth US$550 billion in two-way trade last year.
Made navigable by shrinking Arctic ice, this route potentially shaves 12-15 days off the journey through the Suez Canal and the Mediterranean Sea.
Also, please see the prelude China Granted Access to Arctic Club as Resource Race Heats Up [Business Week] earlier in 2013 and
Chinese cargo ship sets sail for Arctic short-cut [Financial Times, August 11, 2013]
The Yong Sheng, a 19,000-tonne vessel operated by state-owned Cosco Group, set sail on August 8 from Dalian, a port in northeastern China, bound for Rotterdam. According to an announcement on Cosco’s website, the journey via the Bering Strait could shave as much as 15 days off the traditional route through the Suez Canal and Mediterranean Sea.
Chinese ship plys new Arctic trade route [Sydney Morning Herald, August 11, 2013]
For more info on COSCO and its fleet of ships (including the Yong Sheng), please click here.
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Chinese ship takes shorter Arctic Route
by the AFP
Source – Straits Times, published August 11, 2013