Arctic shipping

climate change arctic shipping routes
These three Arctic shipping routes are now more clear than ever.

Melting ice at the North Pole is allowing for summertime trips along the "northern sea route" along the Arctic Circle.

By heading north, corporations like Nordic Bulk Carriers that send goods by sea between East Asia and Western Europe are saving upwards of $500,000 per trip. It's shorter than the 11,000 mile trip across the Indian Ocean and Egypt's Suez Canal -- and you avoid Somali pirates too.

And because there are still some patches of six-foot-thick ice, shipping tankers need to be accompanied by massive, nuclear-powered Russian icebreakers. More shipping means extra business for companies like Rosatom.

First published January 16, 2015: 1:00 PM ET