Canada Picks Germany for Submarine Fleet

Canada selected Germany's ThyssenKrupp Marine Systems to build up to 12 new submarines, one of the country's largest ever defence purchases.

Prime Minister Mark Carney announced the decision in Halifax, saying TKMS will reallocate boats from German and Norwegian orders to meet the 2034 delivery date.

The decision marks a strategic shift away from U.S. dependency and boosts NATO interoperability.

South Korea's Hanwha Ocean saw its shares sink over 20% after losing the bidding war.