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First regular Arctic container service China-Europe Arctic Express set to debut this week, ship operator tells GT_我的网站

A |     　　最新消息显示，华尔街对“算力贷”相关风险的担忧，正指向定制芯片和先进网络芯片供应商博通。    

    The first cargo ship of the China-Europe Arctic Express berths at Ningbo Zhoushan Port in East China's Zhejiang Province on December 6, 2025. Photo: VCG
A Chinese shipping company has confirmed with the Global Times the plan to launch a regular container service via Russia's Northern Sea Route to Europe this week, marking a new Arctic option for Asia-Europe trade once it sets sail.
Chinese container shipping company Sea Legend Shipping told the Global Times on Tuesday that its vessel Dubai Tower, originally scheduled to depart Ningbo-Zhoushan Port in East China's Zhejiang Province, on August 15, has had its departure adjusted because of weather conditions. The company said it is making internal arrangements for the maiden voyage of the China-Europe Arctic Express Route. 
According to industry observers, the move reflects growing interest in Arctic shipping as global logistics networks continue to diversify beyond traditional canal routes. As polar ice retreats and seasonal navigation windows widen, the Arctic is emerging as a practical alternative for some Asia-Europe shipments, particularly those seeking to avoid congested or geopolitically sensitive sea lanes.
On Monday, the Financial Times reported that Sea Legend would launch the first regular container shipping service through the Arctic this week. The report said the company has branded the service the "Ice Silk Road," a reference to the historical Silk Road linking China and Europe.
The move comes as Arctic shipping increases amid rapidly shrinking sea ice. The Northern Sea Route recorded a record 23 transits last summer, up from 15 in 2024, according to figures cited by the FT.
Sea Legend told the Global Times that, compared with traditional China-Europe routes that can take around 40 days, the Arctic passage could cut transit time by nearly half, reducing the journey to about 20 days under direct service conditions.
The inaugural voyage is expected to call at Qingdao Port, Shanghai Port, Taicang Port and Ningbo-Zhoushan Port in China before continuing to European ports including Teesport and Felixstowe in the UK, Hamburg in Germany and Gdynia in Poland. The final domestic calling sequence may still change due to typhoon-related weather conditions.
The service will carry cargo including energy storage containers and related components, power batteries and new energy vehicles - goods that typically require faster transit, stable schedules and controlled transport conditions.
Sea Legend said the Arctic route could offer exporters a new solution in terms of both speed and reliability, as traditional canal and mainline routes face growing uncertainty from congestion, geopolitical disruptions and longer port waiting times.
The company also said the route has cooperation agreements with destination terminals including Felixstowe, Rotterdam, Wilhelmshaven and Antwerp, giving vessels priority berthing and a "green channel" advantage that could reduce anchorage delays and logistics costs.
Zhong Zhechao, an international logistics service expert told the Global Times on Tuesday that the move highlights rising interest in using the Arctic region for shipping, with Arctic shipping gradually becoming a practical alternative in the global logistics network as melting ice expands seasonal navigation windows and shipping lines seek to avoid congested and geopolitically sensitive sea lanes.
For exporters - especially cross-border e-commerce firms, manufacturers of seasonal products, and new energy companies - shorter shipping times could ease inventory pressure and reduce working-capital costs by allowing more flexible production and sales planning.
Zhong said this may be particularly valuable for companies racing to meet European sales seasons, as shorter transit times improve responsiveness to overseas demand.
The company also said the Arctic's low-temperature environment may be especially suitable for transporting new energy products such as batteries and energy storage systems, which require heightened attention to safety and thermal-risk considerations during transit.
Looking ahead, Sea Legend aims to achieve roughly four months of stable annual operation within the next three to five years, with a longer-term goal of year-round Arctic navigation within five to ten years.
The launch underscores how Chinese shipping firms are accelerating their Arctic deployment, turning what was once a long-term vision into operational reality.
According to the Xinhua News Agency, in September 2025, Ningbo-Zhoushan Port launched its first China-Europe Arctic container express route. The move was expected to provide strong support for trade enterprises to expand into new international logistics channels, the port said.
In recent years, Arctic shipping routes have increasingly come under the spotlight in the international community and have the potential to become important routes in international trade, Lin Jian, Chinese Foreign Ministry spokesperson, told a press conference in September 2025.
China stands ready to work with Russia and other Arctic states as well as interested countries to strengthen international cooperation on the building and operation of basic infrastructure along Arctic shipping routes and jointly advance the development and exploration of the routes and protect the environment there, Lin said.
。　　据悉，一只票面利率5.15%、2031年到期的博通债券，8月以来收益率已上升约14个基点（注：这意味着债券价格下跌）。与此同时，其5年期信用违约互换（CDS）价格同期上涨了28个基点，升幅甚至高于甲骨文和SpaceX。　　上周，博通正与黑石集团和阿波罗全球管理等机构洽谈，计划通过债务融资筹集超过600亿美元的资金，用于为人工智能芯片项目提供资金支持。

B | 三家公司今年早些时候曾表示，计划在2028年前支持超过20吉瓦的AI算力部署，所需资金将达到数千亿美元。　　美国银行此前测算称，如果博通的AI XPV融资平台按照规划扩大，到2029年其高级债务规模可能达到约3700亿美元。　　与英伟达类似，博通为“算力贷”提供部分担保的条件，正是潜在数据中心建设方必须采购博通的芯片。在这类安排下，博通、英伟达等芯片厂商实际上是把自己的资产负债表信用“借”给客户，帮助客户提升购买芯片和相关设备的能力。　　这也引发了有关“信用风险表外累积”的担忧：一旦行业进入下行周期，这类信用支持可能迫使芯片公司在自身盈利承压的时候，仍然需要兑现规模达数十亿美元的担保承诺。　　2026年以来，美国AI相关企业债发行规模已达到约2200亿美元，而2025年同期只有约125亿美元。科技债券利差已经扩大到约89个基点，比整个投资级债券市场高约9个基点，显示投资者正在要求更高的新债发行溢价。

C | 　　摩根大通策略师Tarek Hamid周一在一份报告中谈及博通潜在融资交易时写道：“这进一步加剧了近期市场对于庞大AI生态系统底层不断累积‘幽灵杠杆（phantom leverage）’的担忧。随着租赁合同、采购承诺、残值担保以及其他形式的信用支持不断增加，其总规模最终可能达到数万亿美元。

D | ”　　不过Impax资管公司的投资级债券组合经理Tony Trzcinka表示：“在我看来，博通CDS的上涨，更多反映的是市场对其自身资产负债表的担忧，而不是对AI投资整体产生了焦虑。”　　他补充称，这很可能与市场预期有关。市场反应隐含了额外的预期，即博通未来还将为更多芯片融资交易提供额外的财务担保。（文章来源：财联社）。

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Published on:15:58:36