Shares of Hanwha Ocean fell more than 23 per cent on Tuesday after Canada picked a German bid to replace its aging submarine fleet. Read now

Hanwha Ocean has lost its bid to supply Canada’s next-generation submarine fleet, after Ottawa selected Germany’s TKMS as the preferred bidder for...

Canadian Prime Minister Mark Carney announced Monday that Germany's Thyssenkrupp Marine Systems would be the preferred supplier for delivering the submarines.