Lin suggested the Arctic route could be a good alternative, adding,"For voyages between Shanghai and Hamburg, Germany, it could save about 6,400 km, compared with using the conventional route."

Shorter shipping times mean reduced transportation costs, along with lower energy consumption and carbon emissions, Lin added.

Yu said, "Not only would the Arctic route greatly reduce journey time, it would include Northeast China and play a significant role in the economic revitalization of China's old industrial bases."

In recent decades, the Suez Canal Authority has worked to expand the waterway to cater to larger vessels.

However, Lin said that with extremely large vessels setting records for shipping efficiency and cost-saving, safety has taken a back seat.

"I think the pursuit of larger vessels is getting out of control and is risking safety, which should be the priority," Lin said.

Chen said that to achieve high efficiency, companies are keeping their inventories at a low level, adding, "It is important to strike a balance between low inventories and stable supply chains."