Hanwha Ocean, a leading South Korean shipbuilding company, has signed a strategic partnership agreement with Babcock International Group to expand its presence in the global naval market. The partnership aims to leverage the strengths of both companies to pursue submarine export opportunities in Canada and Poland.

The agreement was signed on [date] at Hanwha Ocean’s shipyard in Geoje, South Korea. During the visit, David Lockwood, Group CEO of Babcock International, expressed his enthusiasm for the partnership, stating that "Through our strategic partnership with Hanwha Ocean, we will enhance our competitiveness in the Canadian and Polish submarine export markets and local military support services."

Hanwha Ocean and Babcock have a history of cooperation. In June 2022, they signed a Technology Cooperation Agreement (TCA) to pursue the Canadian submarine project. In February 2023, the two companies signed a Team Agreement (TA) to collaborate on global submarine projects.

Babcock, a global defense company, is currently building frigates for the Polish Navy and will be involved in their maintenance. The company has also been providing maintenance services for the Canadian Navy's Victoria-class submarines since 2008.

"The synergy between Hanwha Ocean, with its strong capabilities in shipbuilding platforms, and Babcock, with its expertise in global after-sales support, is significant," said Hee-chul Kim, CEO of Hanwha Ocean. "This strategic partnership will increase our chances of winning global submarine export contracts and provide our customers with seamless maintenance services throughout the entire lifecycle of their vessels, contributing significantly to the growth of both companies in the defense industry."

https://www.hanwha.co.kr/newsroom/media_center/news/news_view.do?seq=13858