S. Korea's Hanwha Ocean loses out as Canada picks Germany's TKMS for submarine deal

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

South Korea loses Canada submarine deal but cements top-tier defence status

South Korea may have lost Canada’s multibillion-dollar submarine order, but analysts say its close-run contest with Germany has handed Seoul a different prize: proof that it can challenge one of the world’s traditional undersea warfare powers on a stage watched closely by defence buyers. Canada chose Germany’s Thyssenkrupp Marine Systems (TKMS) as the preferred bidder for a programme worth about US40 billion to build up to 12 diesel-electric submarines, along with long-term maintenance and...

Germany’s TKMS beats Hanwha Ocean for Canada submarine deal: Canadian media

Germany’s TKMS beats Hanwha Ocean for Canada submarine deal: Canadian media

South Korea's Hanwha, TKMS near Canada sub decision

South Korea's Hanwha, TKMS near Canada sub decision

Carney welcomes other ‘possibilities’ with South Korea at NATO summit after passing on submarine bid

A meeting with President Lee happened the day after Canada chose Germany and Norway's TKMS submarine deal over South Korea's Hanwha

U.S. requests information on S. Korean shipbuilders' naval construction capacity: sources

SEOUL, July 8 (Yonhap) -- The United States has asked major South Korean shipbui...

Canada to buy 12 hi-tech German submarines after bidding war

TKMS beats South Korean rival to multibillion-dollar contract that will deepen Canada’s Nato tiesCanada has selected a German consortium to build a dozen cutting-edge submarines in one of the country’s largest-ever defence contracts that will further deepen its Nato ties before a crucial summit this week.On Monday the prime minister, Mark Carney, announced the winner of a tightly contested battle for the lucrative government contract to replace their fleet of ageing, secondhand subs, most of which are undergoing maintenance. Continue reading...

Canada Picks Germany’s TKMS for 12 Submarines in Its Largest Defence Deal Ever

Canada selected Germany's TKMS to build up to 12 submarines in its largest-ever defence deal, PM Carney announced at CFB Halifax on Monday. The estimated 40-50 billion deal, made with NATO ally Norway, delivers Arctic-capable vessels by 2034 and marks a strategic turn toward European allies.

South Korea’s currency chief says in talks with Japan, allies

South Korea’s currency chief says in talks with Japan, allies

Ringgit, peso lead declines among Asian currencies; South Korean won gains

The following table shows rates for Asian currencies against the dollar at 0205 GMT. CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous day Pct Move Japan yen 162.350 162.09 -0.16 Sing dlr 1.293 1.2922 -0.08 Taiwan dlr 32.155 32.143 -0.04 Korean won 1512.000 1515.8 +0.25 Baht 33.380 33.32 -0.18 Peso 61.554 61.416 -0.22 Rupiah 17990.000 [] The post Ringgit, peso lead declines among Asian currencies; South Korean won gains appeared first on Interaksyon.

5 key takeaways from Canada choosing Germany's submarine bid

5 key takeaways from Canada choosing Germany's submarine bid

Korea’s Hanwha Ocean loses bid for Canada’s massive submarine procurement project

Korea’s Hanwha Ocean loses bid for Canada’s massive submarine procurement project

Canada chooses Germany for submarine deal | DW News

Canada has announced a major submarine deal with German naval shipbuilder TKMS. It will add 12 more submarines to the country's existing fleet of four. The bid was put forward by Germany and Norway. #canada #submarine #tkms #navalship #dwgermanpolitics For more news go to: http://www.dw.com/en/ Follow DW on social media: ►Instagram: https://www.instagram.com/dwnews ►TikTok: https://www.tiktok.com/@dwnews ►Facebook: https://www.facebook.com/deutschewellenews/ ►Twitter: https://twitter.com/dwnews Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1

What Canada’s TKMS Deal Means for the Indo-Pacific

During the July 2026 North Atlantic Treaty Organization (NATO) summit in Ankara, Prime Minister Carney announced Germany’s ThyssenKrupp Marine Systems (TKMS) as Canada’s primary supplier for 12 diesel-electric Type 212CD submarines over the Republic of Korea (ROK)’s Hanwha Ocean to replace its Victoria-class submarine fleet. Carney believes this will strengthen interoperability with NATO allies and [] The post What Canada’s TKMS Deal Means for the Indo-Pacific appeared first on Modern Diplomacy.

Why Japan and South Korea’s Deepening Defense Ties Are Good News for the US

Two of America’s closest security partners in Asia, Japan and South Korea, have historically struggled to cooperate due to historical animosities. However, at the urging of the U.S., in recent years Tokyo and Seoul have increasingly collaborated with each other and trilaterally with Washington. Last month, that cooperation took another step forward. Japanese Defense Minister...

Iran war exposed, but hasn’t changed, Japan’s reliance on imported oil

Japan received over 93 of its oil imports through the Strait of Hormuz last year before it was effectively closed.

Japan and South Korea Reaffirm Goal of Nuclear Disarmament, Strengthen Defense Ties to Confront North Korea’s Nuclear Threat

Seoul - South Korea and Japan reaffirmed Sunday their commitment to achieving the denuclearization of the Korean Peninsula. The two countries also agreed to revive joint search and rescue exercises as part of efforts to strengthen security cooperation. At a meeting in Seoul, South Korean Defense Minister Shin Won-sik and Japanese Defense Minister Minoru Kihara... Read more Source The post Japan and South Korea Reaffirm Goal of Nuclear Disarmament, Strengthen Defense Ties to Confront North Korea’s Nuclear Threat appeared first on Libya Update News.

Hanwha Ocean signs up for $15.7bn Canadian FLNG project

South Korea’s Hanwha Ocean has signed a non-binding memorandum of understanding with Kanata Clean Power Climate Technologies to explore cooperation on the proposed Kanata FLNG project in Prince Rupert, British Columbia. The planned FLNG export project is expected to have a capacity of up to 12m tonnes per year, with Kanata estimating total capital expenditure

South Korean ships transit Strait of Hormuz after U.S.–Iran agreement

Seoul, June 22 (SANA) Two South Korean vessels have passed through the Strait of Hormuz following an agreement between the United States and Iran, South Korea’s Ministry of Oceans and Fisheries said on Monday. The ministry, cited by Yonhap News Agency, said the vessels, operated by South Korean shipping companies, had been waiting in the []

Business leader says he hopes Greater Victoria gets fair share of submarine money

VICTORIA — The federal government’s submarine contract with a German company offers a “tremendous amount of opportunity” to propel British Columbia’s shipping industry, political and business leaders say. Prime Minister Mark Carney announced in Halifax on Monday that Canada has chosen German defence manufacturer TKMS as the preferred supplier of up 12 submarines, with both [] The post Business leader says he hopes Greater Victoria gets fair share of submarine money appeared first on Loonie Politics.