August 11 - Cosco Shipping's multipurpose vessel Yong Sheng, which completed its first round trip between Asia and Europe via the Northeast Passage in 2013, is making its second voyage along the Arctic shipping lane.

Yong Sheng loaded a consignment of wind turbine components and steel at the Chinese ports of Shanghai, Lianyungang and Jiangyin, before sailing through the Bering Strait and along the Northeast Passage.

The vessel is scheduled to arrive at Sweden's Varberg port in mid August, from where it will sail back to China with arrival expected towards the end of October.

In 2013, Yong Sheng became the first Chinese merchant vessel to successfully sail to Europe via the Arctic shipping route.

At a ceremony held before the ship set sail, Li Yun Peng, a member of the board of directors and general manager of Cosco Group expressed his view that that the Arctic Northeast Passage offered much potential to reduce carbon emissions by shortening voyages and lowering voyage costs.

Wang Yi Dong, general manager of Angang Steel Company, added that the Arctic route being taken by Cosco Shipping would help his company expand its market share in Europe by significantly reducing the logistics costs.

Cosco Shipping added that its customers have indicated that they would actively support the development of this alternative route between Asia and Europe.