Feasibility of the Northern Sea Route for seasonal transit navigation: The role of ship speed on ice and alternative fuel types for the oil product tanker market

•Seasonal feasibility of the Northern Sea Route (NSR) is assessed for oil products tankers.•Speed on ice, transit fees and fuel prices determine the competitiveness of the NSR.•Minimum NSR required freight rate (RFR) reaches its lowest point where speed on ice is close to optimal.•VLSFO gives largest savings and HSFO-scrubber the lowest.•LNG/VLSFO mileage ratio dictates NSR competitiveness for low priced LNG.