The loss of ice has also opened up the possibility of new shipping routes, creating faster and shorter trade routes for 80% of the most industrialized nations and leading to a vast drop in fuel consumption and carbon emissions.

The Northern Sea Route (NSR), as it has become known, could become a viable alternative to the Suez Canal, with some analysts suggesting it could reduce travel time between Asia, Europe, and the east coast of the US by 10-15 days. And in the process making it one of the most strategic maritime regions in the world.

Liked this? Click on the Follow button above for more great stories from loveEXPLORING

Read on to discover American islands that aren't actually in North America...

27 things you probably didn't know about Greenland