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Canada Eyes Submarines: Hanwha Ocean Offers Fleet by 2035
4 Feb
Summary
- South Korean shipbuilder Hanwha Ocean proposed four submarines to Canada.
- The proposed delivery timeline is by the year 2035.
- The submarine deal is estimated to be worth over $12 billion.
South Korean shipbuilding giant Hanwha Ocean has put forth a proposal to Canada, offering to deliver four submarines by the year 2035. This move places Hanwha Ocean as a leading contender in the race to supply Canada with a new fleet of underwater vessels.
The significant contract, estimated by industry sources to exceed $12 billion, also features warship builder TKMS as a finalist. Hanwha Ocean emphasized its capacity for rapid delivery during an earnings call, noting that this capability is a crucial consideration for Canada in selecting its future submarine supplier.
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