instead they are taking the long way round from asia to europe and around the cape of good hope. that s an extra 3500 nautical miles, or up to two week s sailing, adding as much as a million dollars per ship in fuel alone. maersk ceo vincent clark told the bbc s aaron heslehurst that these extra costs are already being passed onto consumers. this is one of the most important arteries of global trade and having to re route all of this cargo now south of the cape of good hope is going to create significant disruptions to the global supply chain for the duration in which we have to do that, and probably a few months more as we have to get back then into normal. so you need to see, i think, a stronger mobilisation. the other thing is that the level of threat is actually evolving, and so for the coalition that is trying to put in place this safe passage, they need to constantly reassess the level of protection.
rather than $3000 to send from asia to parts of the mediterranean and this reflects the high costs that this reflects the high costs that this is causing for shipping lines in terms of more insurance and diverting around the southern tip of africa means higherfuel bills and it is likely this will be passed on to consumers if there is a significant disruption which depends on how it will last. essen significant disruption which depends on how it will last. on how it will last. even if we managed on how it will last. even if we managed to on how it will last. even if we managed to neutralise - on how it will last. even if we managed to neutralise the i on how it will last. even if we - managed to neutralise the threat in the near term, could there be long term effects from the situation to global shipping and trade? it depends on what happens with the military coalition led by the us thatis military coalition led by the us that is in the area, the warships trying to provide security
asia to europe pretty significantly, and it accounts for i2% of global trade. we heard from maersk of denmark who say they will pause trade through that route until further notice because it was one of their ships that was attacked at the weekend, the latest such attack, targeted by a houthi missile and a crew who tried to board it. savings will be paused for another week and then they will review the situation sailings. similar tone from maersk. there are a lot of moving pieces here. we heard from a french shipping company which said it is increasingly prices for some of its journeys from asia to europe to reflect the higher costs that all shipping lines are facing, and a a0 foot container will now cost $6,000
security leaders at the aspen security forum. the u.s. is one of only eight countries in the world with territory above the arctic circle. now china wants a piece. here is why it matters. as the snow caps melt due to climate change we re in a race for a natural resources there. new sources of oil, coal, gas as well as clean energy and rare earth minerals. shortened trade routes. 20 days shorter to get from asia to europe via the arctic. putin has tried to stake claim to the arctic rebuilding soviet era bases. during a house homeland security meeting they said the u.s. cannot aid forward to lose access to the arctic. russia has been building up its military capabilities in the arctic including its fleet of heavy ice breakers. vladimir putin repeatedly stated his vision for the northern sea route to become an alternative
the u.s. is one of only eight countries with territory above the arctic circle and now china wants a piece of it too is why it matters. as the snow caps are melting to the climate change, china russia and the u.s. are in a race for the national resources there. new sources of oil coal and gas as well as clean energy and rare earth of minerals. and shorten trade routes, it is 20 days shorter to get from asia to europe via the arctic. russia has been building up its capabilities in the arctic including its heavy icebreakers. vladimir putin is dated his vision for the northern sea route to become a alternative to the suez canal to facilitate faster trade between europe and asia. we are building icebreakers finally. and we have to live one is broken and we are building in russia by the way is 54 and many which is nuclear powered. after years of resisting the arctic is now a key focus of