Geopolitics of Arctic Shipping - Focus on the Northern Sea Route

Freedom of navigation is one of the oldest and most recognized principles of the law of the sea, dating back to its enunciation in the ‘De mare liberum’ by Hugo Grotius in 1609. Consequently, the UN Convention on the Law of the Sea (UNCLOS) makes ample reference to the freedom of navigation, right of innocent passage, and freedom of movement of ships. However, the world's largest shipping firms continue to pause shipments through the Red Sea after attacks by Houthi rebels along one of the crucial international trade routes, raising the possibility of a freshening inflation shock for the world economy. As container ships divert around the Cape of Good Hope, driving up the costs of shipments from Asia to Europe, the Northern Sea Route (NSR) is gaining credit. In addition, considering the development of technology and the melting of ice, there are promising prospects for the development of new maritime routes in the Arctic previously inaccessible for cargo ships. This study introduces the current disruption forces on global commerce and presents the results of a survey conducted with a number of cross-sector stakeholders on the geopolitical factors of the NSR.