Global Arctic: Shipping Routes and Economic Impacts

This lecture explores the opening of the Arctic to commercial shipping, focusing on the Northern Sea Route and the Northwest Passage. It covers the historical context, present-day activities, importance of trans-Arctic sea routes, winners and losers in global trade, environmental risks, determining factors for shipping operators, projected traffic build-up, climate feedback effects from ship engines, and the economic gains and losses from Arctic trade. The instructor discusses how the Arctic's changing climate affects navigation, trade costs, and environmental sustainability.