South Korea’s Hanwha loses major Canadian submarine deal

German shipbuilder TKMS chosen as preferred bidder to supply up to 12 vessels Canadian Prime Minister Mark Carney announces that Canada has picked Germany’s TKMS to build 12 submarines for its navy, at HMC Dockyard in Halifax, Nova Scotia on July 6. © Reuters SEOUL — South Korean shipbuilder Hanwha Ocean has lost out on a major submarine deal with Canada following a closely fought yearlong battle with German rival ThyssenKrupp Marine Systems (TKMS) over supplying a fleet of up to 12 of the vessels to the Royal Canadian Navy.

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