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Canada to spend C$11 bln on six new icebreakers for coast guard

Prime Minister Mark Carney announces C$11 billion investment to replace aging fleet. Chantier Davie in Quebec awarded construction of six heavy icebreakers.

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Helena Vásquez · Business Desk · 25 Aug 2026 · 17:03 · 1 min read
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Canada to spend C$11 bln on six new icebreakers for coast guard

Canada will invest C$11 billion (US$7.95 billion) to build six new heavy icebreakers for the Canadian Coast Guard, replacing aging vessels in a fleet ranked second globally only to Russia’s.

Prime Minister Mark Carney announced the initiative on Thursday, emphasizing the strategic importance of maintaining an independent Arctic presence. The new vessels will bolster Canada’s capacity to escort commercial and military ships navigating Arctic waters, including routes used by U.S. vessels.

Construction will be handled by Chantier Davie, a shipyard based in Lévis, Quebec. The investment underscores Canada’s commitment to asserting sovereignty over its extensive northern territory without dependence on foreign icebreaker services.

The Canadian Coast Guard operates one of the world’s largest icebreaker fleets, critical for year-round Arctic operations. The aging fleet has faced increasing operational constraints, prompting the need for modern replacements to ensure maritime safety and security in northern waters.

This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Written by
Helena Vásquez
Business Desk

Helena covers corporate news for listed and private companies across Europe, from strategy shifts to leadership changes, with an eye for what a story signals about the broader market.

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