"Prime Minister Vladimir Putin on Thursday predicted Arctic shipping routes along Russia's northern coast would soon rival the Suez Canal as a quicker trade link from Europe to Asia."

"Russian plans to revive the Soviet-era shipping lane as polar ice cover receded to near record lows this summer could speed energy deliveries to China and boost business for cargo suppliers such as state-owned Sovkomflot.

Officials at the Arctic Forum in the White Sea port city of Arkhangelsk said Russia must develop infrastructure to guard against oil spills, revamp ports and build more icebreakers to realize Putin's vision of year-round shipments."
 
Gleb Bryanski reports for Reuters September 23, 2011. [2]