Hanwha Ocean shares plunge 23% after losing Canada submarine contract to Thyssenkrupp

Canadian Prime Minister Mark Carney announced Monday that Germany's Thyssenkrupp Marine Systems will be the preferred supplier for Canada's next submarine fleet. The decision caused shares in South Korean shipbuilder Hanwha Ocean to crash 23%. The contract was seen as a major opportunity for Hanwha to expand in Western defence markets.

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🪖 Military Canada selects Germany's TKMS to build new submarines Al Jazeera · 22d ago 🪖 Military Canada picks Germany's ThyssenKrupp to build up to 12 submarines in major NATO spending boost ABC News · 22d ago 🪖 Military Swedish submarines for Poland delayed, defence ministry stays silent Wirtualna Polska · 2h ago

More on this topic

🪖 Military Canada selects Germany's TKMS to build new submarines Al Jazeera · 22d ago 🪖 Military Canada picks Germany's ThyssenKrupp to build up to 12 submarines in major NATO spending boost ABC News · 22d ago 🪖 Military Swedish submarines for Poland delayed, defence ministry stays silent Wirtualna Polska · 2h ago