B.C. Shipyard Ready to Deliver on New Navy Submarines - Greenwood Boundary Creek Times
The 12-submarine contract is expected to deepen Canada’s defense ties with Germany and Norway while marking a setback for South Korea’s export push.
- On Monday, Canadian Prime Minister Mark Carney announced that Thyssenkrupp Marine Systems is the preferred supplier to build up to 12 submarines for Canada, marking a major modernization of the nation's naval fleet.
- Experts attribute Hanwha Ocean's defeat to geopolitical considerations, particularly Germany's longstanding alliance with Canada through NATO, as the South Korean shipbuilder could not overcome the barrier posed by established transatlantic defense partnerships.
- Shares of Hanwha Ocean fell more than 23% on Tuesday morning as investors reacted to the loss of the contract, valued at up to 60 trillion won .
- South Korean President Lee Jae Myung vowed to support the country's defense industry, stating "challenges inevitably bring both successes and disappointments. What matters is that we do not stop but continue to move forward." The Defense Acquisition Program Administration called the decision "deeply regrettable."
- TKMS stated the deal marks "the start of a new chapter in defence cooperation between three close NATO allies," while analysts note the bidding process enhanced Korea's global standing, positioning Hanwha for upcoming programs in Greece and the Philippines.
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21 Articles
For Canada, it is the largest purchase, and for the German TKMS, the largest sale in history. Modern submarines are able to connect the fleets of Canada, Germany and Norway and thus give an advantage to those NATO members in the northern seas.
Canada wants to order twelve submarines at Thyssenkrupp. The order strengthens transatlantic cooperation and German shipyards.
B.C. shipyard ready to deliver on new navy submarines - Greenwood Boundary Creek Times
After a lengthy battle between two companies for the contract to build 12 new submarine for the Canadian Patrol Submarine Project (CPSP), the federal government announced Germany’s ThyssenKrupp Marine Systems (TKMS) will be the strategic build partner for the next era of Canadian military technology. In support of Canada’s defence industrial strategy, Seaspan and TKMS signed a teaming agreement in support of the project in January. Seaspan is th…
Germany beats out ambitious South Korean bid for Canada’s biggest arms buy
A spirited South Korean bid to supply 12 Arctic-capable diesel-electric submarines for the Royal Canadian Navy lost out to a German pitch Monday, as Canadian Prime Minister Mark Carney prioritizes links with NATO over ties to Indo-Pacific partners.
'All of it stops': Hanwha Ocean ends partnership with college, Ontario Shipyards after losing submarine bid
South Korean shipbuilder Hanwha Ocean says it's withdrawing from a partnership with Mohawk College in Hamilton and Ontario Shipyards after losing out on a massive Canadian navy submarine contract.
The German company will build 12 non-nuclear propulsion submarines of its most modern model, the 212 CD after imposing itself on its South Korean competitor Hanwha Ocean
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