South Korea's Hanwha Ocean proposed delivery of four submarines to Canada by 2035

TKMS AG & Co KgaA

04/02/2026 05:48

SEOUL, Feb 4 (Reuters) - South Korean shipbuilder Hanwha Ocean 042660.KS said on Wednesday that it proposed the delivery of four submarines to Canada by 2035.

Hanwha is one of two finalists - alongside warship builder TKMS TKMS.DE - in a tender to supply Canada with a new fleet of submarines, estimated by industry sources to be worth more than $12 billion.

Hanwha said in an earnings call on Wednesday that fast delivery is one of the factors Canada considered important.

 (Reporting by Joyce Lee and Heejin Kim
Editing by Ed Davies)

 ((joyce.lee@tr.com;))