Kongsberg Maritime Agrees to Buy Finnish Thruster Maker Steerprop
The acquisition brings an installed base of more than 400 vessels in high ice-class propulsion
Kongsberg Maritime has entered into an agreement to acquire Steerprop, a Finnish designer and manufacturer of azimuth propulsion systems specialising in high ice-class and Arctic vessels.
Steerprop has built a position in Arctic propulsion supplying icebreakers, polar research vessels, offshore support ships and other demanding applications. The company has an installed base of more than 400 vessels globally and a significant order backlog, the majority of it linked to Arctic and ice-class projects.
"For Kongsberg Maritime, the acquisition represents a strategic step in strengthening our position in the growing Arctic and ice-class vessel segment," said Lisa Edvardsen Haugan, chief executive of Kongsberg Maritime. She described the combination as bringing together Steerprop's specialised Arctic propulsion expertise with the buyer's global organisation, lifecycle services network, systems integration capabilities and scale.
Azimuth thrusters designed for ice are a narrow speciality. The unit has to take the shock loading of ice contact through the propeller and the housing, hold station in broken ice, and run for long periods without dockside support, which is why the segment has stayed with a small number of specialist manufacturers rather than being absorbed into general thruster ranges. That constraint is what gives an installed base of 400 hulls its value: the aftermarket and lifecycle work attached to it is difficult for a general supplier to contest.
Ville Rimpila, senior vice president for thruster systems at Kongsberg Maritime, said Steerprop had developed strong technology, valuable customer relationships and a leading position in Arctic propulsion, and that combining it with the group's global reach could create additional value for customers.
Demand in the segment is being driven by fleet renewal programmes, polar research investment and increasing activity in Arctic regions. Both companies will continue to operate independently until the transaction completes, with existing projects, deliveries and contractual commitments unchanged. The deal is subject to customary regulatory approvals and other closing conditions.
For a group that already supplies energy, automation and integrated systems across offshore vessels and merchant tonnage, the purchase closes a gap in the propulsion end of that portfolio at the point where ice capability is becoming a specification requirement rather than an option.
