This is correct. The only passage open the last few years has been the Lancaster Sound route which is not suitable for shipping. The Prince of Wales Strait is the only viable route, but hasn't opened up fully the last number of years.
In contrast, the Northeast passage has opened up every year for the last 10+ years and offers huge gains for ships from Asia to Europe. From wikipedia, the difference between Suez and NEP for Yokohama to Rotterdam is 37% shorter.
In contrast, the Northeast passage has opened up every year for the last 10+ years and offers huge gains for ships from Asia to Europe. From wikipedia, the difference between Suez and NEP for Yokohama to Rotterdam is 37% shorter.