Bloomberg
Hanwha Ocean Plunges Over 20% After Losing Canada Submarine Deal
Tuesday, July 7, 2026
Hanwha Ocean's share price dropped more than 20% Tuesday after Canada selected a German bid for its submarine fleet replacement instead of the South Korean shipbuilder's proposal. Canada's government announced the selection of the German contractor on Tuesday. Hanwha Ocean had competed for the contract to replace Canada's aging submarines.