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The Polar Icebreaker Project: 2024 Update

Report

The Polar Icebreaker Project: 2024 Update

Jun 28, 2024

This report provides an updated independent cost estimate of the Development and Acquisition phases of the Polar Icebreaker Project.

Highlights

The acquisition of 2 Polar Icebreakers is estimated to cost $8.5 billion. This cost includes all relevant components of the Development and Acquisition phases of the project.
The first Polar Icebreaker is expected to be delivered in 2030-2031, and the second in 2032-2033. This represents a 1 and 2 year delay for the first and second vessels, respectively, relative to prior PBO work on this Project in 2021.
A one-year delay to both vessels is estimated to cost an additional $260 million while a two-year delay is estimated to cost an additional $530 million.

© Office of the Parliamentary Budget Officer, Ottawa, Canada