Finance

Finland to acquire a new icebreaker for its fleet

Published by Global Banking & Finance Review

Posted on December 16, 2024

2 min read

· Last updated: January 27, 2026

Add as preferred source on Google
Undersea power cable outage investigation between Finland and Estonia - Global Banking & Finance Review
Image depicting the Estlink 2 undersea power cable as Finland investigates its recent outage affecting electricity supply to Estonia, highlighting key issues in energy infrastructure.
Global Banking & Finance Awards 2026 — Call for Entries

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

Finland Plans New Icebreaker to Boost Baltic Sea Trade

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)

Key Takeaways

  • Finland to replace an old icebreaker with a new vessel.
  • The ICE Pact involves the US, Canada, and Finland.
  • 96% of Finland's trade relies on the Baltic Sea.
  • Tender process and EU funding sought for the new vessel.
  • Russia's Arctic strategy increases regional significance.

Frequently Asked Questions

What is the main topic?
The article discusses Finland's plan to acquire a new icebreaker to maintain open trade routes in the Baltic Sea.
Why is the Baltic Sea important for Finland?
The Baltic Sea is crucial for Finland's trade, with 96% of imports and exports shipped through it.
What is the ICE Pact?
The ICE Pact is an agreement between the US, Canada, and Finland to advance Arctic icebreaker development.

Related Articles

More from Finance

Explore more articles in the Finance category