Taiwan's First Domestically-built Submarine Misses Delivery Deadline [Barron's]
Lockheed Martin Corporation (LMT)
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Source: Barrons
The vessel is part of a submarine programme launched in 2016 that aims to deliver a fleet of eight vessels, but opposition lawmakers have criticised the repeated delays in the project. Advertisement - Scroll to Continue Taiwan is seeking to upgrade its defences to deter China, which claims the democratic island is part of its territory and has threatened to use force to annex it. Sea trials of the submarine began in June, nearly two years after it was first unveiled. The original target was to wrap up testing by September 30 and deliver the submarine by the end of November, the navy said previously. But Defence Minister Wellington Koo said Monday that sea trials were ongoing. Advertisement - Scroll to Continue "All the sea trials were supposed to be completed by the end of November, but in fact that is no longer achievable," Koo told lawmakers. "I want to emphasise again that everything we do is based on safety assessments and there's no rush to meet any specific mont
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