Hanwha Ocean has signed a teaming agreement with Babcock Canada for the Canadian Patrol Submarine Project (CPSP), naming the company as its exclusive in-service support partner.
The partnership builds on earlier collaborations, including a 2021 memorandum of understanding and a 2022 technical cooperation agreement. The announcement follows Canada’s decision in August to shortlist the South Korean shipbuilder as one of two finalists for the CPSP, alongside Germany’s Thyssenkrupp Marine Systems.
According to Babcock Canada, appointing a Canadian partner for long-term in-service support will ensure the fleet’s sustainability and operational readiness. A subsidiary of the UK-based Babcock International Group, the company currently supports the entire Royal Navy submarine fleet.
Valued at 60 billion Canadian dollars ($43 billion), the CPSP is expected to deliver its first submarine by 2035, with full fleet service planned by 2043. Hanwha Ocean says it can supply the first vessel within six years of contract signing, then follow with annual deliveries. If awarded in 2026, the company projects four submarines delivered by 2035, with the first arriving in 2032.
