PanStar considers up to three Arctic voyages to Europe — The Japan Times
South Korean shipping company PanStar Group is considering making up to three container voyages next year following a test voyage from Busan to Europe via the Northern Sea Route. The PanStar Acro departed Busan on August 22 and arrived in Felixstowe, UK, on September 12, taking about 20 days for the passage.
As The Japan Times reports, after Felixstowe the vessel headed to Rotterdam and Gdansk. PanStar Chairman Kim Hyun-kyum said that, taking into account the usual intermediate port calls, the route through the Suez Canal would have taken about three times longer.
Seasonal voyages for high-value cargo
The company is considering voyages from July to October, when Arctic waters are more suitable for navigation and demand for cargo deliveries to Europe is seasonally higher. PanStar plans to use vessels with a capacity of around 3,000 TEU or less, focusing on urgent and more expensive cargoes from South Korea and Japan.
These include temperature-sensitive chemicals, shipbuilding equipment and heavy wind turbine components. During the test voyage, the PanStar Acro carried industrial rings weighing 20 tonnes. According to Kim, freight rates for such cargoes may be two to five times higher than standard rates.
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Obstacles on the route
The Northern Sea Route runs along Russia's Arctic coast and is a shorter connection between Asia and Europe than the route through the Suez Canal. At the same time, unpredictable ice conditions and a limited navigation season have so far prevented it from becoming a widely used alternative to traditional routes.
During the test passage, dense ice forced the PanStar Acro to make a detour of about 350 kilometers, while extremely cold seawater complicated engine operation. The vessel carried around 700 containers, although it can normally take about 1,500. Kim noted that fuel prices rose by nearly 40% in the three months before departure, so the first voyage was likely unprofitable.
The company is seeking return cargo from Korean enterprises in Europe, including automotive components and equipment that are often transported by air when urgent delivery is needed. In the future, PanStar is also considering using smaller and faster vessels to reduce fuel consumption.
