[Edaily Reporter KIM YOON-JEONG ] Hanwha Ocean is trading higher in early trading. This is believed to reflect market anticipation ahead of the announcement of the results for the Canadian Patrol Submarine Program (CPSP), a project worth up to 60 trillion won. According to MP Doctor on the 6th, as of 9:12 a.m. today, Hanwha Ocean(042660)is trading at 118,200 won, up 11,300 won (10.57%) from the previous close. According to foreign media reports, Canadian Prime Minister Mark Carney is scheduled to officially announce on the 6th (local time) whether South Korea or Germany has won the CPSP contract. The CPSP is a major project to procure up to 12 diesel submarines to replace the aging Victoria-class submarines. Including submarine construction costs as well as maintenance, repair, and operations (MRO) costs for 30 years after procurement, the project’s total value is reported to reach up to 60 trillion won. Currently, Hanwha Ocean and Germany’s ThyssenKrupp Marine Systems (TKMS) are competing as finalists.
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