07 May 2026 – Hanwha Ocean, a recognized global leader in submarine design and construction and Thordon Bearings, a maritime leader in manufacturing high performance, polymer propeller shaft, rudder and other bearings and seals for naval applications, have signed a strategic Memorandum of Understanding (MOU) to explore the benefits of cooperating on the Canadian Patrol Submarine Program (CPSP) and other Canadian or global maritime projects.
The CPSP is one of the largest conventional submarine procurements in modern history and offers a transformational opportunity for Canada. Hanwha Ocean was selected as one of two qualified suppliers by the Government of Canada for the CPSP. Subject to the award of the CPSP, Hanwha Ocean plans to support in-country capability development for critical submarine subsystems and lifecycle sustainment.
Based in Burlington, Ontario, Canada, Thordon has supplied its reliable oil-free bearing solutions to over 50 Navies and Coast Guards worldwide. Thordon’s proprietary non-metallic polymer bearings eliminate oil and grease lubrication – reducing maintenance and the risk of oil pollution in the world’s oceans. Its low acoustic signature performance has also made it the clear choice for the U.S. Navy, which installed Thordon bearings on its nuclear Seawolf-class submarine shaftlines. Thordon’s COMPAC propeller shaft bearings are already fitted to the Royal Canadian Navy’s 12 Halifax-Class frigates and six Harry DeWolf-Class Arctic and Offshore Patrol Vessels (AOPV) and ordered for the two Canadian Coast Guard AOPVs.
“Signing this MOU with Thordon Bearings, a company with world-class technological capabilities, marks a meaningful step in our efforts to explore cooperation with local supply chain partners for the Canadian submarine program. Building on our proven submarine construction expertise, Hanwha Ocean intends to jointly explore potential cooperation opportunities with Thordon and other leading Canadian companies, with the aim of contributing to solutions that meet the requirements of the Royal Canadian Navy and supporting the broader foundation of bilateral naval defense cooperation,” said Charlie SC Eoh, President/COO of Naval Ship Business, Hanwha Ocean.
“Through this MOU, we hope to explore how Thordon’s Canadian-made, proven bearings can work with Hanwha Ocean’s leading submarine and shipbuilding global performance record with the objective to strengthen sovereign defense industrial capability,” said Anna Galoni, CEO, Thordon Bearings. “Cooperating with a world-class shipbuilder like Hanwha Ocean, Thordon can provide a domestic solution that avoids procurement from overseas and offers the potential for future sales to other foreign navies through Hanwha Ocean.”
Hanwha Ocean
Hanwha Ocean is a leading global shipbuilder with more than four decades of experience in complex naval and commercial shipbuilding programs. Supported by its large-scale, integrated shipyard in Geoje, South Korea, that spans 5-square kilometres and has more than 31,000 employees, the company combines proven industrial capacity with operational experience to deliver modern, in-service naval platforms backed by a resilient through-life support model.
Since its establishment in 1973, Hanwha Ocean has delivered more than 1,400 vessels worldwide, and has built deep expertise in the design, construction, and sustainment of submarines and surface combatants for the Republic of Korea Navy. The company builds approximately 45 commercial and naval ships each year. For more information, visit: www.hanwhaocean.com
Thordon Bearings
Thordon Bearings Inc. is the leading manufacturer of high performance, oil/grease‐free bearing systems, seals and other shaft line products that are proven, cost effective, environmentally sustainable solutions. Thordon exports most of its products to the global marine, clean power generation, pump and industrial markets. Thordon systems and bearings are available worldwide through over 70 authorized distributors. For more information, visit:
www.thordonbearings.com
Note
This Memorandum of Understanding represents a non-binding expression of intent to cooperate in good faith between the parties. Future business cooperation will be subject to separate agreements. This MOU is not connected to any procurement decision under the Canadian Patrol Submarine Project (CPSP).
