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The rapid decline of Arctic sea ice has been reminding us the significant impacts caused by global warming. However, the other side of the coin is that this opens a window to utilize the Arctic sea routes in the summer seasons, bringing remarkable economic benefits for ocean transportation between Asia and Europe. However, commercial vessels with low ice classes must tackle substantial environmental challenges in the Arctic sea routes, particularly those caused by variable sea ice, even in the melting seasons. Therefore, the science-based support for shipping safety in the Arctic sea routes is being given more prominence. Emerging satellite remote sensing technology plays a critical role in environmental monitoring in the Arctic. This paper reviews state-of-the-art satellite observations on monitoring sea ice and potential applications on supporting shipping activities in the Arctic Ocean. Moreover, we introduced a recently developed system based on satellite observations to support the safe transportation of Chinese cargo vessels in the Arctic northern sea route, demonstrating the efforts by both the science and business communities to promote the development of the polar silk road. [ABSTRACT FROM AUTHOR]