Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › Business & Finance › Hanwha Ocean Shares Sink After Losing Canada Sub Deal to Germany
Business & Finance

Hanwha Ocean Shares Sink After Losing Canada Sub Deal to Germany

Hanwha Ocean Shares Sink After Losing Canada Sub Deal to Germany
Bloomberg Markets Tuesday 07 July 2026, 00:52 UTC By Soo-Hyang Choi 1 min read
Key Points

Hanwha Ocean Shares Sink After Losing Canada Sub Deal to Germany Shares of Hanwha Ocean fell more than 20% on Tuesday morning after Canada picked a German bid to replace its aging submarine fleet over the South Korean shipbuilder’s proposal. Prime Minister Mark Carney on Monday announced that Thyssenkrupp Marine Systems is the preferred supplier to build as many as 12 submarines for Canada, in a speech at a naval base in Halifax where he stopped en route to the NATO summit in Ankara, Turkey.

Hanwha Ocean Shares Sink After Losing Canada Sub Deal to Germany Shares of Hanwha Ocean fell more than 20% on Tuesday morning after Canada picked a German bid to replace its aging submarine fleet over the South Korean shipbuilder’s proposal. Prime Minister Mark Carney on Monday announced that Thyssenkrupp Marine Systems is the preferred supplier to build as many as 12 submarines for Canada, in a speech at a naval base in Halifax where he stopped en route to the NATO summit in Ankara, Turkey.
Hanwha Ocean Shares Sink After Losing Canada Sub Deal (ORG) Germany Hanwha Ocean Shares Sink (ORG) Germany (LOCATION) Hanwha Ocean (ORG) Canada (LOCATION) German (ORG) South Korean (ORG) Mark Carney (PERSON) Thyssenkrupp Marine Systems (ORG) Halifax (LOCATION) NATO (ORG) Ankara (LOCATION) Turkey (LOCATION)
Originally published by Bloomberg Markets Read original →

Related Stories

Singapore’s Carousell hits profitability milestone, banks on AI as ‘force multiplier’

At Carousell’s Singapore office, a red tunnel greets employees with the company’s mission to “make second-hand the first choice” – a slogan its leaders say is moving closer to reality as the platform for buying and selling used goods recorded its first positive adjusted operating profit. The Singapore-headquartered company, last valued at US$1.1 billion in 2021, said on Tuesday it had achieved positive Ebitda – earnings before interest, taxes, depreciation and amortisation – for the first...

South China Morning Post 15m ago

Bargain homes are to be had in New Zealand but here’s the catch: floods

Bargain homes are to be had in New Zealand but here’s the catch: floods In Auckland, where thousands of properties were swamped in 2023, buying a home in a flood-prone area offers discounts of up to US$60,000 As buyers accept known flood exposure in exchange for a lower price point, those properties are outgrowing the broader market in value, according to Cotality’s chief data officer Craig Dargusch. “Our data shows that flood-affected properties trade at an initial discount, but the market...

South China Morning Post 15m ago

Hanwha Ocean shares sink 23% as it loses bid to build Canada's next fleet of submarines

Shares of South Korea's Hanwha Ocean plunged about 23% Tuesday, after the company lost its bid to build Canada's next fleet of submarines. Canadian Prime Minister Mark Carney announced Monday that Germany's Thyssenkrupp Marine Systems, or TKMS, would be the preferred supplier for delivering the submarines. That is expected to be a setback to the South Korean shipbuilding and offshore contractor, as the contract was estimated to be up to $100 billion over three decades, according to The Korea...

CNBC 25m ago

Richard White resigns as WiseTech chair but will remain with firm

Richard White will step down as the executive chairman of WiseTech Global, effective immediately. Mr White said recent media reports on allegations of human trafficking, which he strenuously denies, were creating an "unnecessary distraction". Independent director Raelene Murphy will become WiseTech's chair, while Mr White will remain on the company's board and as its chief innovation officer.

ABC Australia 36m ago