Earlier this week, South Korea's submarine manufacturer, Hanwha Ocean, announced it had signed several partnership agreements with Canadian companies including Algoma Steel, the Sault Ste. Marie, Ont., seen here in July 2025, if it wins the contract to build Canada's new submarine fleet. "We're down to a single operational submarine," Topshee said, referring to HMCS Corner Brook, which just returned to service. The other three subs — HMCS Victoria, HMCS Windsor and HMCS Chicoutimi — are either in maintenance or not operational. Most defence analysts agree that whether any of the deals turn into actual jobs is highly speculative at this point.