Canada Selects German Firm for Submarine Fleet, South Korea Loses Bid
Canada has chosen a German firm to build its new submarine fleet, with South Korean competitor Hanwha losing out on the significant defense contract. The decision marks a notable outcome in international defense procurement.
The Story
Analyzing sources…
Source Diversity
Source Diversity
Low (24/100)Sources
Canada picks German firm for new submarine fleet, South Korean competitor loses out
In a closely watched outcome, Canada on Monday chose a major German defence contractor over its South Korean competitor to build a US multibillion-dollar fleet of submarines, as mid-tier nations increasingly work together in the face of a less reliable United States. Canadian Prime Minister Mark Carney said that Ottawa chose Thyssenkrupp Marine Systems (TKMS)’s package over Hanwha Ocean Company’s. The move is expected to strengthen ties between Canada and Nato, which is holding a two-day summ...
By Mark Magnier
Read full article →Canada's submarine decision: Beyond Hanwha's loss in 2 minutes
After a highly publicized 10-month battle, South Korean shipbuilder Hanwha Ocean has lost its bid to supply Canada with multibillion-dollar submarines to Germany’s Thyssenkrupp Marine Systems. Canada selected TKMS as the preferred supplier for its Canadian Patrol Submarine Project on Monday, dealing a setback to Hanwha Ocean and its consortium partner HD Hyundai Heavy Industries. But the result also showed how far South Korea’s submarine industry has advanced, as Hanwha Ocean competed head-to-he
By The Korea Herald
Read full article →Coverage Timeline
Related Stories
Kebbi PDP Denies Endorsing Governor Idris for 2027 Election
7m ago
Traffic Enforcer Shot in Cavite for Refusing to Release Impounded Motorcycle
7m ago
Holzleitner Demands Pay Transparency Implementation
10m ago
Sarajevo Canton Government Announces New University Campus and Urban Regeneration Project
10m ago