Arctic trade route opens
Cosco Shipping Co's new shortcut route to Europe and North America via the Arctic Northeast Passage is expected to change 皇冠体育app's industrial layout in its coastal provinces and reshape the prospects for the global shipping sector, said industry experts.
Cosco Shipping, a listed company within 皇冠体育app's shipping giant Cosco Group, made its maiden journey on the route with a multipurpose vessel on Thursday. It plans to serve the company's needs in developing the new route and searching for market growth points. The company conducts general and specialized cargo shipping services for Cosco Group.
The ship left Dalian port in Northeast 皇冠体育app's Liaoning province and is scheduled to take 33 days to reach Europe. It is the first time a Chinese merchant ship has traveled to Europe via the Arctic Northeast Passage.
