Arctech Helsinki Acquired by Russia

As of 30 December 2014, Finland's Arctech Helsinki Shipyard is now 100 percent owned by Russia's United Shipbuilding Corporation (USC) after the company acquired the other half of Arctech's shares from STX Finland Oy. The shipyard specializes in building icebreaking vessels and currently has six vessels on order, the first of which is scheduled for delivery in Q3 2015 to … [Read more...]

Arctech Helsinki and USC Joint Venture to Build New Finnish Icebreaker

Arctech Helsinki Shipyard, in a joint venture with Russia's United Shipbuilding Corporation (USC), signed a contract with the Finnish Transport Agency to build a new 19MW dual fuel LNG-powered icebreaker aimed for use in the Baltic Sea.  The cost of the new vessel is in the range of € 123 million (including € 24 million in European Union grants, and it is expected to be … [Read more...]

Russia-Finland JV Wins Tender to Build Dual Fuel Icebreaker

A joint venture between Russia's United Shipbuilding Corporation and the Finnish branch of shipbuilding group STX Arctech Helsinki Shipyard  has won a tender for the construction of an icebreaker for the Finnish Transport Agency. At a price tag of 123 million euros, this new, dual fuel icebreaker will be capable of plowing continuously through 1.6 m thick level ice.  When … [Read more...]