Seoul [South Korea], April 23 (ANI): HD Hyundai Heavy Industries secured a USD 348.9 million contract from the Swedish Maritime Administration to build an icebreaking vessel, marking the first time a South Korean shipbuilder entered the international icebreaker market. The vessel is scheduled for delivery in 2029 and will operate in the Baltic Sea to provide icebreaking, navigation assistance, towing, and ice management services, according to a report by The Korea Herald.

The company stated that it was selected for the project based on its price competitiveness, delivery timeline, and technological capabilities. This selection allowed the firm to prevail over established shipbuilders from Finland and Norway, countries that traditionally dominated the specialized vessel sector.

Regarding the technical specifications, the report stated that the icebreaker will measure 126 meters in length with a displacement of approximately 15,000 tons. The ship will feature Polar Class 4 capability, which enables it to continuously break through ice measuring between 1 and 1.2 meters thick. The construction plan included a reinforced hull, high-powered propulsion systems, and a specialized structural design tailored for navigation in ice-covered waters.

'The contract demonstrates our technological capabilities following integration within the HD Hyundai group,' the report quoted Joo Won-ho, head of the special ship business unit.

The agreement arrived at a time when global demand for icebreakers increased significantly, driven by a growing interest in Arctic shipping routes. To address these needs, the United States approved plans to expand its icebreaker budget to approximately USD 9 billion.

Furthermore, the United States, Canada, and Finland launched the Icebreaker Collaboration Effort to strengthen polar navigation capabilities. These three nations aimed to construct between 70 and 90 icebreakers over the next decade.

HD Hyundai Heavy Industries said it intended to leverage this specific order to expand its presence in the global market for naval and special-purpose vessels that required icebreaking capabilities. The company viewed the Swedish contract as a strategic foothold in a high-value niche of the shipbuilding industry.

'We will continue to expand into new export markets for specialized vessels,' Joo added. (ANI)