Jul 3, 2026
A U.S.-based firm focused on mining, exploration, and development has become the newest proprietor of a vessel originally built as a Soviet passenger ferry and later transformed into a cruise ship. The ship recently drew attention for accommodating troops and personnel in Greenland.
Critical Metals Corp., which is advancing a significant rare earth mineral initiative in Greenland, has purchased the former expedition cruise ship Ocean Endeavour for EUR7.5 million ($8.5 million). The vessel will house roughly 300 workers involved in the company’s Tanbreez project in Greenland.
Previously under the ownership of SunStone Marine Group, the ship had been leased to multiple operators. Earlier this year, the Danish Defence chartered the 12,900-gross-ton vessel—which can hold 190 passengers along with 124 crew and staff—to lodge Danish and NATO forces during the Arctic Endurance exercise.
The Ocean Endeavour boasts a notable past: constructed in Poland in 1982 as a Soviet passenger ferry, it originally sailed as the Konstantin Simonov in the Baltic Sea and has seen several ownership changes. In the early 2000s, it was refitted as a cruise ship, briefly served an Israeli company, and was later equipped for polar voyages in 2015. Last month, SunStone put the 137-meter vessel up for sale.
Nasdaq-listed Critical Metals stated that it acquired the ice-strengthened ship due to its established track record in both Arctic and Antarctic conditions. The company noted that the vessel is ideally suited to support year-round operations tied to the development of the Tanbreez critical minerals project.
The firm emphasized that the Ocean Endeavour will offer adaptable lodging for up to 300 project workers, thereby reducing pressure on local housing and hotel resources in Greenland. By providing self-contained accommodations for its workforce, Critical Metals aims to avoid overburdening the limited hotel and tourism infrastructure in Qaqortoq and the surrounding area. The ship will be docked near the Tanbreez project site.
Tony Sage, Chairman of Critical Metals, remarked that the Ocean Endeavour delivers a flexible and proven platform to support the workforce, streamline logistics, and boost operational efficiency as the company advances its development efforts in Qaqortoq. He further noted that the acquisition enhances the company’s capacity to pursue long-term growth strategies while upholding safety and operational excellence in a region with limited infrastructure and cultural sensitivity.
In 2024, Critical Metals secured a controlling interest in the Tanbreez project, which is recognized as one of the largest untapped rare earth deposits globally. Situated in southern Greenland, the project is reported to hold substantial quantities of heavy rare earth elements essential for defense applications, clean energy initiatives, and next-generation technologies.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
REPORT DESCRIPTION
RESEARCH METHODOLOGY AND THE AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
KEY FINDINGS
MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
MARKET STRUCTURE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
TRADE BALANCE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCTS
MOST TRADED PRODUCTS
MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
TOP COUNTRIES TO SOURCE YOUR PRODUCT
TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
TOP CONSUMING MARKETS
UNSATURATED MARKETS
TOP IMPORTING MARKETS
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
8. IMPORTS
The Largest Import Supplying Countries
IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025)
IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025)
9. EXPORTS
The Largest Destinations for Exports
EXPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025)
EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Key Findings In 2025
Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
Per Capita Consumption: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms, By Country, 2012–2025
Imports, In Value Terms, By Country, 2012–2025
Import Prices, By Country, 2012–2025
Exports, In Physical Terms, By Country, 2012–2025
Exports, In Value Terms, By Country, 2012–2025
Export Prices, By Country, 2012–2025
LIST OF FIGURES
Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Trade Balance, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Trade Balance, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Per Capita Consumption: Historical Data (2012–2025) and Forecast (2026–2035)
Market Volume Forecast to 2035
Market Value Forecast to 2035
Market Size and Growth, By Product
Average Per Capita Consumption, By Product
Exports and Growth, By Product
Export Prices and Growth, By Product
Production Volume and Growth
Exports and Growth
Export Prices and Growth
Market Size and Growth
Per Capita Consumption
Imports and Growth
Import Prices
Production, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Production, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms, By Country, 2025
Imports, In Physical Terms, By Country, 2012–2025
Imports, In Value Terms, By Country, 2012–2025
Import Prices, By Country, 2012–2025
Exports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Physical Terms, By Country, 2025
Exports, In Physical Terms, By Country, 2012–2025
Exports, In Value Terms, By Country, 2012–2025
Export Prices, By Country, 2012–2025