Canada’s largest shipbuilder plans significant investment in U.S.

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Canada-based multinational shipbuilder Davie announced its intention to proceed with a significant investment in the American shipbuilding industry.

Pending final site and partner selection, Davie’s decision coincides with a series of actions announced by the U.S. government to boost the efficiency, resilience, and competitiveness of national shipbuilding sector.

“As a result of the Biden-Harris Administration efforts to strengthen the U.S. shipbuilding industry, Davie, Canada’s largest shipbuilder, intends to make a new long-term commitment to American shipbuilding,” confirmed the U.S. government in a White House Fact Sheet. “Pending final site and partner selection, this would include a major investment in a U.S. shipyard.”

“Inocea Group companies Helsinki Shipyard and Davie Shipbuilding will be joined by a third shipbuilding facility in the United States as part of the ICE Pact between the US, Finland and Canada,” said Alex Vicefield, chairman and CEO of Davie’s parent company Inocea Group, in a LinkedIn post.

Davie’s plans are aligned with the ICE Pact, a trilateral collaboration between the United States, Canada and Finland announced on July 11. The ICE Pact is expected to enhance the production of in-demand polar icebreakers in participating countries boosting economic, climate and national security, while supporting vital shared interests in the contested polar regions.

Significantly, the U.S. Department of Defense launched its 2024 Arctic Strategy on July 22, outlining steps DOD will take, in collaboration with allies and partners, to preserve the Arctic as a secure and stable region.

Davie has a history of supporting America’s skilled shipbuilders on strategic projects such as the U.S. Navy’s Nimitz Class Aircraft Carriers and Arleigh Burke-class destroyers.

Alex Vicefield noted, “Harnessing Helsinki Shipyard’s unique experience and capabilities and creating a class of heavy icebreakers for NATO countries, in an expedited and cost-efficient manner is critical to a secure and stable Arctic region.”

He added, “Over the past decades, the US and Canada have engaged heavily with Finland to learn about icebreaker production but previous foreign state-ownership of Helsinki Shipyard, the global leader in icebreaker construction, provided a major barrier.”

Vicefield concluded, “Our acquisition of Helsinki Shipyard last year has entirely changed the playing field and provided the US and Canada with the much needed experience, expertise and capability. The ICE Pact brings it all together allowing the US and Canada to benefit from Helsinki Shipyard’s icebreaker construction expertise.”