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The route to the Arctic starts in Busan
PanStar Acro
Busan is heading north.
The first Korean container ship to travel the Arctic shipping route departed from Busan New Port on Aug. 22. The pilot voyage is being undertaken by the 2,800-TEU (twenty-foot equivalent unit) PanStar Acro, operated by Busan-based PanStar Line.
The ice-class PanStar Acro will sail the Northern Sea Route through the Bering Strait and across the Arctic Ocean to call at Felixstowe, U.K.; Rotterdam, the Netherlands; Hamburg, Germany; and Gdansk, Poland.
The trip is more than a trial run; PanStar is testing the commercial viability of the route by transporting 837 TEU of cargo, including auto parts, synthetic resins, used cars, food and K-beauty products.
A successful operation could bring significant upside to Busan's economy.
The journey is expected to take about 45 days. Compared with the traditional passage through the Suez Canal, the Arctic route connecting Asia and Europe shortens the trip by about 7,000 kilometers and 10 days, reducing transit time by about 30%. The shorter travel time may allow shippers to trim logistics costs and diversify their supply chains.
A business agreement between Busan City and PanStar Line will have the city provide administrative support and help secure cargo. Using data gathered on the route, cargo and vessel operations, the city can shape related industries and support policies, laying the groundwork for Busan to become a leading power in Arctic shipping.