Dutch yard Icon Yachts is to turn an ice-breaking supply ship into a luxury yacht.
Conversion work has already started on Wagenborg's 900-dwt Sanaborg (built 2012).
The yard said this is the second such project it has attempted and it has been flooded with conversion offers.
Project Ragnar will see the offshore vessel undergo an extreme makeover thanks to a design by the UK's RWD.