By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Australia to build biggest navy since second world war to meet China threat
News

Australia to build biggest navy since second world war to meet China threat

News Room
Last updated: 2024/02/20 at 1:29 AM
By News Room
Share
5 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Australia is to more than double the size of its naval fleet with an extra A$11.1bn ($7.2bn) of investment to adapt to China’s military build-up in the Pacific region.

The navy will expand to 26 warships, including 11 new frigates and six new large vessels with long-range missile capability, as Canberra toughens its military stance in response to rising regional tension.

The investment will give Australia its largest navy since the second world war. It eases fears within the defence community that the government would not meet promises to provide extra funding to upgrade the fleet after a review last year deemed it not fit for purpose.

The plan is aimed at launching new warships more rapidly while maintaining a commitment to increasing shipbuilding capability in Australia.

Under the proposals set out on Tuesday, the government has made cuts to a plan to acquire Hunter frigates from Britain’s BAE Systems, which in 2018 won a A$35bn contract to build nine vessels in Osborne, South Australia.

The contract had been in danger of cancellation due to delays and a potential rise in costs to A$65bn. The National Audit Office also criticised the procurement process.

The revised Hunter plan means the navy will now receive six of the originally planned nine vessels.

Australia will also acquire 11 further frigates that can be delivered more quickly.

The naval overhaul comes a year after Australia’s Defence Spending Review unveiled the biggest strategic shift in its military posture in almost 80 years, arguing that intense Chinese-US competition had become the defining feature of the Pacific region.

It cited China’s military build-up as the “largest and most ambitious of any country since the end of the second world war”.

The overhaul also comes as Australia, the UK and US continue to implement the Aukus agreement that will deliver nuclear-powered submarines to the Pacific country for the first time.

The government has admitted that the Royal Australian Navy is operating the oldest surface fleet in its history. The new plan — which will take Australian public investment in the fleet to A$54.2bn over the next decade — is aimed at adding more missile power to the navy’s arsenal and introducing faster “shoot and scoot” ships.

Mark Hammond, chief of the navy, said in a statement that the navy needed to be equipped to deter potential adversaries and defend Australia’s national interests. “The size, lethality and capabilities of the future surface combatant fleet ensures that our navy is equipped to meet the evolving strategic challenges of our region,” he said.

Euan Graham, senior analyst with think-tank ASPI, said the plan represented “a bold move in the right direction” and that the addition of the new frigates represented an unprecedented step-up in fleet capability outside of wartime.

He said the move to buy new frigates “off the shelf” from international suppliers was pragmatic given the navy’s needs.

Sam Roggeveen, director of the Lowy Institute’s International Security Program, said the addition of the six large optionally crewed surface vessels reflected the lessons of recent conflicts by building more missile capability into the fleet. “The Ukraine war and the Houthi conflagration have illustrated that the depth of the missile magazines are vital to your survival on the seas,” he said.

Roggeveen said China might not be perturbed by Australia’s overhaul as it already had a vast armoury of weapons designed to sink surface ships. “The idea this could significantly tilt the balance [towards Australia] is mistaken,” he said.

Read the full article here

News Room February 20, 2024 February 20, 2024
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
GM’s tariff turnaround is “staggering”: Analyst

Watch full video on YouTube

We Saw Lucid’s Turnaround Plan And The Stakes Are Huge

Watch full video on YouTube

Franklin Mutual International Value Fund Q3 2025 Commentary (MEURX)

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating…

US bars former EU commissioner Thierry Breton and others over tech rules

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Why you shouldn’t cash out when stocks fall

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

News

Franklin Mutual International Value Fund Q3 2025 Commentary (MEURX)

By News Room
News

US bars former EU commissioner Thierry Breton and others over tech rules

By News Room
News

BJ’s Wholesale Club: Gaining More Confidence In Its Ability To Grow EPS

By News Room
News

The 200-Year-Old Secret: Why Preferred Stock Is The Ultimate Fixed Income Hybrid

By News Room
News

US steps up blockade of Venezuela by seeking to board third oil tanker

By News Room
News

Fraudsters use AI to fake artwork authenticity and ownership

By News Room
News

JPMorgan questioned Tricolor’s accounting a year before its collapse

By News Room
News

Delaware high court reinstates Elon Musk’s $56bn Tesla pay package

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?