HD Hyundai Heavy Industries said Wednesday it has secured a $348.9 million contract from the Swedish Maritime Administration to build an icebreaking vessel, marking Korea’s first entry into the global icebreaker market.
The vessel, scheduled for delivery in 2029, will operate in the Baltic Sea, supporting icebreaking, navigation assistance, towing and ice management.
The company said it was selected based on its price competitiveness, delivery timeline and technological capabilities, prevailing over established shipbuilders in Finland and Norway.
The icebreaker will measure 126 meters in length with a displacement of about 15,000 tons, and will feature Polar Class 4 capability, allowing it to continuously break ice about 1 to 1.2 meters thick. It will be equipped with a reinforced hull, high-powered propulsion systems and specialized structural design for ice-covered waters.
The deal comes as global demand for icebreakers rises, driven by growing interest in Arctic shipping routes. The United States has approved plans to expand its icebreaker budget to around $9 billion and, together with Canada and Finland, launched the Icebreaker Collaboration Effort to strengthen polar navigation capabilities. The three countries aim to build 70 to 90 icebreakers over the next decade.
The company said it plans to leverage the order to expand into the global market for naval and special-purpose vessels requiring icebreaking capabilities.
“The contract demonstrates our technological capabilities following integration within the HD Hyundai group,” said Joo Won-ho, head of the special ship business unit. “We will continue to expand into new export markets for specialized vessels.”
jwjeon7625@heraldcorp.com
