“…Empirical studies have been conducted to analyse the potential economic impact of Arctic ice melting on shipping routes and these are their findings: (Rahman, Saharuddin and Rasdi ,2014;Stephenson and Smith, 2015;Chou et al, 2017;(Khon, Mokhov and Semenov, 2017)concluded that the opening of the Northern Sea Route as an alternative route for transporting cargoes from the Far East and Europe will affect the maritime sector of Malaysia Economy both positively in agreeing with (Yumashev et al, (2017) and (Melia, Haines and Hawkins, 2017) that the new route may result in a shorter travel distance of up to 40% (Cho, 2012;Hong, 2012;Lu et al, 2014;Mokhov, Khon and Prokof'eva, 2016)between Asia and Europe and negatively (Zhang, Meng and Zhang, 2016)in the scope of 1) political, 2) economy, 3) social, 4) technology 5) environment and 6) legal(Savitzky, 2016)on both developed and emerging economies (Brown, 2015). (Melia, Haines and Hawkins, 2017) suggest that trans-Arctic routes may provide a useful supplement to the traditional canal routes (Faury and Cariou, 2016), but they will likely not replace them (Bensassi et al, 2016)even though (Bekkers, Francois and Rojas-Romagosa, 2017)arguably predict shifts in trade flows (Savitzky, 2016) between Asia and Europe with diversion of trade within Europe(Brown, 2015), heavy shipping traffic in the Arctic and a substantial drop in Suez traffic (Hong, 2012;Mokhov, Khon and Prokof'eva, 2016;Button et al, 2017;Chou et al, 2017)). (Lindstad, Bright and Strømman, 2016) concluded that the results indicate that there are no general climate benefits of utilizing the Northern Sea Route, even with cleaner fuels, since the additional impact of emissions in the Arctic more than off sets the effect of shorter voyages with the biggest economic losses set to occur in Africa (Hong, 2012)and India of CO2 emissions due to global warming (Yumashev et al, 2017;Bekkers, Francois and Rojas-Romagosa, 2017).Countering this argument, (Cho, 2012;Chou et al, 2017) predicts decreased environmental impact due to CO2 emissions.…”