The objective of this study was to investigate the performance of a model azimuthing podded propulsor in ice-covered water. Model tests were carried out with two different depths of cut into the ice (15 and 35 mm), two different ice conditions (presawn and pack ice conditions), and four different azimuthing angles. The depth of cut is the maximum penetration depth of the propeller blade into the ice block. The 0.3-m-diameter model propeller was operated in a continuous ice milling condition. Ice loads were measured by several sensors which were installed in various positions on the model. Six one-axis pancake-style load cells on the top of the model measured the global loads and two six-component dynamometers were installed on the shaft to measure the shaft loads. One six-component dynamometer was attached to the one of the propeller blades inside the hub to measure the blade loads. The pod unit and propeller performance in ice are presented. Ice-related loads, which were obtained when the blade was inside the ice block, are introduced and discussed. During the propeller–ice interaction, a blade can experience the path generated by the previous blade, which is called the shadowing effect. The effects of shadowing, depth of cut, azimuthing angle, and advance coefficient on propulsor performance are presented and discussed.