Canada’s Davie Eyes Arctic Shipbuilding Expansion with Helsinki Shipyard

Chantier Davie Canada Inc., based in Québec, has announced its intention to exercise its exclusive option to purchase the assets of Finland's Helsinki Shipyard Oy (HSO), marking a significant step toward establishing a premier global center for Arctic shipbuilding.

"If the acquisition is successful, it will unite two notable and complementary organizations, creating a leading international hub of excellence for Arctic shipbuilding," stated Davie President and CEO James Davies.

The acquisition is subject to a comprehensive due diligence process, which includes financial, regulatory, and legal assessments before Davie makes its final decision.

Founded in 1825, Davie is a prominent Canadian shipbuilder known for constructing specialized vessels, including icebreakers and naval ships, serving both government and commercial sectors. As Canada’s largest shipbuilder, Davie plays a critical role in the country’s National Shipbuilding Strategy (NSS).

The ongoing acquisition process remains confidential, with Davie committing to provide updates only after reaching key milestones, such as signing a purchase agreement.

Helsinki Shipyard Oy has a strong reputation for expertise in building specialized vessels designed for demanding Arctic conditions, including icebreakers, research vessels, and passenger ships.

Canada’s National Shipbuilding Strategy, launched in 2011, aims to modernize the country’s naval and coast guard fleets while revitalizing the domestic shipbuilding industry. The strategy focuses on both combat vessels (such as icebreakers and offshore science vessels) and non-combat ships (like frigates and Arctic offshore patrol vessels).

Davie is also in the process of negotiating an overarching agreement with the Canadian government to become the third key shipbuilding partner in the NSS, alongside Irving Shipbuilding Inc. and Seaspan's Vancouver Shipyards. Davie plans to concentrate on non-combat vessels and has been contracted to build six icebreakers and one polar icebreaker for the Canadian Coast Guard, along with two vessels for Transport Canada and a long-term maintenance plan for Canada’s City-class patrol frigates.