The Government of Åland (ÅLR) and Finland Archipelago Shipping Ltd, part of the Finferries Group, have signed a letter of intent to establish a new shipyard, AxYards, according to Finferries.

The goal of the future repair dock is to provide a modern shipyard capacity for commuter ferries, ferries, and other vessels of similar size.

“We have repeatedly faced challenges in securing sufficient docking capacity precisely when it is most needed. AxYards aims to address this need – to build an own and sustainable and predictable solution that serves both Finferries and the archipelago traffic needs of Åland,” noted Håkan Fagerström, chief executive officer of Finferries.

The planned dry dock basin will be 110 meters long and 20 meters wide and its location is planned in the Möckelö area in Mariehamn.

As Finferries explains, the shipyard’s services will also be offered to other shipping companies and maritime operators.

The realization of the project depends on the feasibility and profitability of the long-term operational plan for the shipyard.

In addition, compliance with environmental impact requirements will be ensured.

“This is a major but realistic step. If we succeed, AxYards could become an important piece not only of archipelago supply security, but also of a new era for Finnish repair shipyards,” Fagerström added.

The aim is for AxYards to be operational and ready to receive its first vessels to the dry dock by the end of the third quarter of 2027.