Hanwha Ocean and Thordon Bearings have signed a Memorandum of Understanding (MoU) to explore cooperation opportunities related to the Canadian Patrol Submarine Program (CPSP) and other maritime projects in Canada and internationally. The agreement focuses on potential collaboration in submarine systems, naval technologies and long-term lifecycle support for future naval programmes.
The CPSP is considered one of the world's largest conventional submarine procurement programmes, with Hanwha Ocean selected by the Canadian government as one of two qualified suppliers for the project. Under the proposed cooperation, Hanwha Ocean said it plans to support the development of domestic capabilities in Canada for submarine subsystems and maintenance activities, subject to the final award of the programme.
Based in Burlington, Ontario, Thordon Bearings supplies oil-free bearing technologies for naval applications and has delivered systems to more than 50 navies and coast guards globally. Its bearing systems are already installed on Royal Canadian Navy Halifax-class frigates and Harry DeWolf-class Arctic and Offshore Patrol Vessels.
Charlie SC Eoh, President and COO of Naval Ship Business at Hanwha Ocean, said signing the MoU with Thordon Bearings — "a company with world-class technological capabilities" — marks a meaningful step in the company's efforts to explore cooperation with local supply chain partners for the Canadian submarine program. Anna Galoni, CEO of Thordon Bearings, added that cooperation with Hanwha Ocean could create opportunities for future export sales to international navies while strengthening sovereign defence industrial capability.
From a supply chain standpoint, three dimensions stand out. First, South Korea-based Hanwha Ocean is building local industrial partnerships for a major Canadian defence programme — a structure that fits Canada's industrial benefits and offset requirements during procurement evaluation. Second, the localisation of submarine maintenance and subsystem activities through Canadian suppliers supports the Royal Canadian Navy's long-term operational readiness and lifecycle cost objectives. Third, in the competition between two qualified suppliers, Hanwha Ocean's early concrete supplier MoUs anchor a credible domestic-content commitment ahead of the final contract award decision.
Key Takeaways:
1. Hanwha Ocean and Thordon Bearings signed an MoU for cooperation under the Canadian Patrol Submarine Program (CPSP) and other international naval projects.
2. The agreement focuses on submarine systems, naval technologies and long-term lifecycle support.
3. Hanwha Ocean is one of two qualified suppliers selected by the Canadian government for the CPSP.
4. Thordon Bearings' oil-free bearing systems are already installed on Royal Canadian Navy Halifax-class frigates and Harry DeWolf-class patrol vessels.
5. Hanwha Ocean plans to develop Canadian domestic capabilities for submarine subsystems and maintenance, contingent on a final program award.
