Hanwha exits Canadian training hub after losing submarine bid to TKMS
Ontario naval partnership collapses as Canada picks Germany's TKMS
Hanwha Ocean is withdrawing from a naval training-hub partnership in Hamilton, Ontario after Canada selected Germany's ThyssenKrupp Marine Systems over the Korean group for its patrol submarine programme.
Prime minister Mark Carney called the roughly C$24bn procurement, covering up to 12 submarines, the largest in Canadian history, with several months of negotiations with TKMS to follow and Hanwha's KSS-III design retained as a reserve option. A February 2026 memorandum for the training hub with Mohawk College and Ontario Shipyards had been contingent on Hanwha winning; with the loss, a spokesperson said all of it stops. Ontario Shipyards and Mohawk will press on with building a training vessel on a standalone basis.
Hanwha's value in the partnership lay in knowledge and technology transfer and training, which one executive said was difficult to put a dollar figure on. Its lost bid had also included a January 2026 offer of C$345m to Algoma Steel for a structural steel beam mill. The hub would have involved 1,000 to 1,200 students.
