Aerospace & Defense IndustriesGerman shipbuilder TKMS chosen as preferred bidder to supply up to 12 vesselsCanadian Prime Minister Mark Carney announces that Canada has picked Germany’s TKMS to build 12 submarines for its navy, at HMC Dockyard in Halifax, Nova Scotia on July 6. © ReutersKIM JAEWONJuly 7, 2026 10:35 JSTSEOUL -- South Korean shipbuilder Hanwha Ocean has lost out on a major submarine deal with Canada following a closely fought yearlong battle with German rival ThyssenKrupp Marine Systems (TKMS) over supplying a fleet of up to 12 of the vessels to the Royal Canadian Navy.