Algoma Steel wins $182 million contract to supply steel for Canadian Coast Guard icebreakers
Algoma Steel announced a contract worth about $182 million to provide up to 24,000 metric tonnes of structural steel for six new Canadian Coast Guard polar icebreakers built by Seaspan Shipyards. The agreement includes roughly 4,000 metric tonnes of steel plate per vessel and creates a multi‑year demand pipeline for the mill. Production of the ice‑breaker plate is slated to start in early 2025. The deal is the largest polar‑class steel order in Algoma’s history and supports its shift to electric‑arc steelmaking.
Why it matters
The company says the contract will generate multi‑year demand and help sustain jobs in Sault Ste. Marie as it transitions to domestic high‑specification plate production.
Key facts
- 1The agreement is valued at about $182 million. saultstar.com
- 2It provides up to 24,000 metric tonnes of structural steel. saultstar.com
- 3Each icebreaker will require roughly 4,000 metric tonnes of steel plate. saultstar.com
- 4The contract covers six icebreakers, with an option for up to ten additional vessels. cbc.ca
- 5Production of the ice‑breaker plate is expected to begin in early 2025. english.pravda.ru
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.