OPTIMIZING NORTHERN SEA ROUTE TRANSPORTATION TIMES: A COMPREHENSIVE STUDY FROM CHINESE SHIPPER'S PERSPECTIVE

The Arctic Sea Route has long intrigued shippers and shipping companies for its potential to shorten the distance between the Atlantic and Pacific Oceans. With Arctic Sea ice melting, the Northern Sea Route's navigational conditions have improved, revealing the growing prospects of commercial shipping. This study primarily focuses on the perspective of Chinese shippers, exploring the categories of goods that enjoy advantages on the Northern Sea Route and conducting a comparative analysis between the Northern Sea Route and the traditional Suez Canal route. Through quantitative analysis, it has been observed that as the navigational time of the Northern Sea Route increases, its position in the global maritime industry is progressively strengthening. Moreover, the article underscores the impact of transportation costs and time on profitability, providing specific cargo selection recommendations based on the effects of shortened transportation time. While emphasizing the potential advantages of the Northern Sea Route, the paper also puts forward long-term strategic recommendations to assist Chinese shippers and shipping companies in better harnessing the development opportunities provided by the Northern Sea Route and enhancing their competitiveness in the international shipping market.