Hanwha Ocean Reportedly Leads Thailand's 4,000-Ton Frigate Race Ahead of Decision

The Royal Thai Navy is expected to name a preferred bidder within the month for a 4,000-ton frigate with a budget of about 17.5 billion baht ($523 million), potentially expanding to roughly $2.7 billion with three follow-on ships. Thailand is reportedly leaning toward Hanwha Ocean's Ocean-40F design over HD Hyundai Heavy Industries and Turkey's ASFAT, though no official winner had been announced as of July 17. HD Hyundai reportedly offered around 40 percent local content against a 20 percent requirement. The competition remains a pending selection, not a signed deal.