Hanwha Ocean, Babcock International to collaborate on submarine exports

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Hanwha Ocean, Babcock International to collaborate on submarine exports

Published: 29 Nov. 2024, 16:20

LEE JAE-LIM
[email protected]

Babcock International CEO David Lockwood, third from left in the front, and Hanwha Ocean CEO Kim Hee-cheul, thrid from right, take a commemorative photo after signing a strategic cooperation agreement on Thursday. [HANWHA OCEAN]

Hanwha Ocean, a major Korean shipbuilder, and London-based Babcock International Group will collaborate to expand their respective footprints globally in export naval projects.

The partnership will focus initially on submarine exports to Canada and Poland and later expand to other projects, leveraging Hanwha’s shipbuilding capabilities and Babcock’s maintenance and support expertise.

The two companies signed a strategic cooperation agreement at a ceremony Thursday with Babcock International CEO David Lockwood and Hanwha Ocean CEO Kim Hee-cheul in attendance. The day before, Lockwood had visited Hanwha’s Geoje shipyard in South Gyeongsang to explore the shipbuilder’s capabilities in ship design, construction, and maintenance, repair and overhaul (MRO).

Babcock International specializes in naval base management, life cycle support for ships and MRO of nuclear submarines, primarily operating in Commonwealth countries.

Lockwood aims to grow its naval exports through the partnership, promising to provide “full support” for future cooperation.

“Hanwha Ocean’s expertise in naval platform construction, combined with Babcock’s strength in global sustainment and support services, creates a powerful partnership,” Kim said in a statement. “This strategic alliance will not only enhance our chances of securing contracts in the global naval export market, but also ensure comprehensive life cycle support for naval vessels, contributing significantly to the defense sectors of both companies.”

The partnership builds on previous agreements, dating back to June 2023 when Hanwha Ocean signed a technical cooperation agreement with Babcock Canada to support Canada’s submarine sustainment programs.

In February, the two companies also entered a teaming agreement to cooperate on global submarine programs.

BY LEE JAE-LIM [[email protected]]