A large freighter completed a voyage through the hazardous Arctic Northwest Passage for the first time this week, showing the potential for cutting shipment times and costs as global warming opens new routes.

The 75,000 deadweight-ton Nordic Orion, built in 2011 by a Japanese shipyard, left the Canadian Pacific port of Vancouver in early September and is scheduled to arrive in the Finnish port of Pori on October 7, according to AIS shipping data.

The ship will deliver coking coal from Canadian miner Teck Resources to Ruukki Metals, a Finnish steel producer…

Nordic Bulk Carriers, the Danish operator of the ship, estimated that the route saved around $80,000 worth of fuel.

The Arctic route also enabled the Nordic Orion to carry its full capacity, adding 15,000 tons of coal that it would not have transported via the Panama Canal, where the depth limits the size of ships and cargo, the…

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