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[BUSINESS] · Canada, United States · 15 sources

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Canada to invest $11 billion in six new icebreakers

Prime Minister Mark Carney has announced a historic C$11 billion investment to build six new icebreakers for the Canadian Coast Guard. The vessels will be constructed at the Chantier Davie shipyard in Lévis, Quebec, marking the largest shipbuilding contract in the province’s history.

The project aims to replace the Coast Guard’s aging heavy and medium icebreaker fleet. These new Polar Class 3 vessels are designed to maintain critical trade routes in the Atlantic, the St. Lawrence, and the Great Lakes during winter, while operating in the Arctic during the summer months. The program is expected to create nearly 5,000 jobs during the construction phase and contribute approximately $650 million annually to Canada’s GDP.

Construction is slated to begin in 2027, with the first ship expected to be delivered in five years and the full fleet entering service by 2038. This initiative is part of Canada’s National Shipbuilding Strategy and comes amid heightened strategic competition in the Arctic and recent trade tensions with the United States, which recently imposed 50% tariffs on various Canadian products.

Entities

Arctia · Arctic · CCGS Louis S. St-Laurent · Canadian Coast Guard · Chantier Davie · Christine Fréchette · Lévis · Mark Carney · Qikiqtaaluk Horizon Arctic Services

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19 days ago