Kongsberg Maritime ASA Moves To Acquire Steerprop

Kongsberg Maritime ASA has entered into an agreement to acquire Steerprop, the Finnish manufacturer of azimuth propulsion systems whose equipment is marketed and supported in the U.S. inland waterways market by Karl Senner LLC.

Financial terms were not disclosed. The transaction remains subject to customary regulatory approvals and other closing conditions.

Based in Rauma, Finland, Steerprop was founded in 2000 and has developed an installed base encompassing more than 400 vessels worldwide. The company has delivered more than 900 propulsion units that have accumulated more than 12 million operating hours. Its systems are used aboard icebreakers, polar research vessels, offshore support vessels, tugs, workboats, cruise ships and ferries.

Steerprop also has a significant order backlog, much of it connected to Arctic and ice-class vessel programs. Its propulsion systems are installed aboard approximately one-third of the world’s azimuth-propelled icebreakers.

Kongsberg said the acquisition will combine Steerprop’s propulsion technology and customer relationships with Kongsberg’s worldwide service organization, systems-integration capabilities and broader marine-technology portfolio. Demand for high-powered and ice-capable propulsion systems is being supported by icebreaker fleet-renewal programs, investment in polar research vessels and increasing activity in Arctic regions.

Existing projects, deliveries and contractual commitments will remain unchanged while the transaction undergoes review.

Following closing, Kongsberg intends to integrate Steerprop into its organization through a phased process focused on retaining technical expertise, protecting customer relationships and maintaining delivery performance while introducing common business systems and operating procedures.

Although the acquisition announcement emphasizes Arctic and ice-class applications, Steerprop has an established presence in the U.S. tug and workboat market. Karl Senner is the authorized reseller of Steerprop azimuth thrusters throughout the U.S. inland waterways and an authorized parts and service provider throughout the United States.

The Steerprop portfolio offered by Karl Senner includes W and T series azimuth propulsors, tunnel thrusters, retractable units, contra-rotating propellers and Arctic propulsion systems. The T series, available in power ratings from approximately 1,150 to 3,300 kW, is designed for tug applications.

Steerprop’s contra-rotating systems use a push-pull propeller arrangement that combines the maneuverability of an azimuthing unit with improved propulsive efficiency. The company also offers Steerprop Care condition monitoring to support preventive maintenance, operational reliability and remote technical assistance.

Karl Senner currently supports Steerprop customers through locations in Kenner, La.; Channelview, Texas; Paducah, Ky.; and Seattle, Wash., with 24-hour parts and service support available nationwide. Kongsberg Maritime and Steerprop will continue operating independently until the acquisition receives regulatory approval and the transaction closes.