Finance
Finland to acquire a new icebreaker for its fleet
Published by Global Banking & Finance Review®
Posted on December 16, 2024
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 16, 2024
2 min readLast updated: January 27, 2026
Finland will acquire a new icebreaker to maintain open Baltic Sea routes, crucial for its trade. The ICE Pact with the US and Canada aims to counter Russia's Arctic influence.
HELSINKI (Reuters) - Finland will replace one of its eight existing icebreakers with a new vessel to secure open routes in the Baltic Sea year round, the Finnish government said on Monday.
The announcement followed the signing of an "ICE Pact" last month, a deal between the United States, Canada and Finland to jointly advance their Arctic and polar icebreaker development in order to counter Russia and China in increasingly strategic polar regions.
Navigable maritime routes are crucial for Finland's foreign trade, with statistics showing some 96% of its imports and exports being shipped via the Baltic Sea, the security of which is also a growing concern for NATO.
"The acquisition of 'Aino' is the first step towards a major renewal program for our icebreakers," Finland's minister of transport and communications Lulu Ranne said in a statement, referring to the new vessel.
The government said it would initiate a tender process for the new vessel and seek also financial support from the European Union for it, but did not provide a value for the acquisition immediately.
"Functional winter navigation is part of the overall security of all of Europe," Ranne said.
Currently, Finland has a fleet of eight icebreakers in service, the newest vessel Polaris having been commissioned in 2016 and the oldest dating from 1954.
In 2022, Russia added two nuclear-powered icebreakers to its fleet of more than 40, as the Arctic takes on greater strategic significance due to climate change and a shrinking ice cap opening up new sea lanes.
(Reporting by Anne Kauranen in Helsinki; Editing by Mark Potter)
The article discusses Finland's plan to acquire a new icebreaker to maintain open trade routes in the Baltic Sea.
The Baltic Sea is crucial for Finland's trade, with 96% of imports and exports shipped through it.
The ICE Pact is an agreement between the US, Canada, and Finland to advance Arctic icebreaker development.
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