South Korea's Bet on Arctic Shipping Lanes

Sometime in late August, if all goes as planned, a Korean tanker will set sail from a South Korean port. Destination: Rotterdam. Nothing special about that port of call. What’s unusual is the route—above Russia, in waters once clogged with ice—which has largely melted. A vessel sailing via Russia can now make this 15,000-kilometer (9,300 miles) journey in 30 days, compared with the 40-day, 22,000-kilometer trip via the Indian Ocean and Suez Canal.

The Russians have plied these waters for years, and a few European commercial ships have tested the route. But the arrival of the Koreans, with their large merchant fleet and big ambitions, could change the game. So could China’s involvement: A cargo ship from state-owned China Ocean Shipping is headed for the northern route already.