Branch² Intelligence
Hanwha Ocean shares sink 23% as it loses bid to build Canada's next fleet of submarines
Key takeaway
Hanwha Ocean shares plunge 23% after losing Canada submarine contract to ThyssenKrupp Marine Systems.
- Step 1Hanwha Ocean loses Canada submarine contract to ThyssenKrupp Marine Systems.
- Step 2Hanwha Ocean shares fall 23%, while TKMS gains a multi-billion dollar order book.
- Step 3Defense supply chains reallocate: TKMS's suppliers see increased demand; Hanwha's suppliers face reduced orders.
Source: CNBC
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