It was built by the Crichton-Vulcan shipyard in Turku according to a project developed by NV Ingenieurskantoor voor Scheepsbouw, "IvS", and was scrapped in 1953.

The submarine was informed of the departure time of the target and the likely route and so Iku-Turso patrolled in the international waters off Sandhamn and Svenska Högarne during the night.

Unidentified patrol boats harassed the submarine and forced it to dive and by the time Iku-Turso was able to reach periscope depth there were no freighters in sight.

Ivan Papanin had passed the area few hours earlier and likely having been warned of the presence of the Finnish submarine, it had altered its course to evade Iku-Turso.

[1] In late December 1941 Iku-Turso patrolled for a couple of days off Liepāja but did not encounter any targets the rules of engagements would have allowed the submarine to attack.