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Sydney Morning Herald
29 minutes ago
- Sydney Morning Herald
Japan wins $10 billion contract to build warships for Australia
Japanese firm Mitsubishi Heavy Industries has won a keenly fought contest to build $10 billion worth of warships for the Australian navy, beating its German rival and overcoming concerns about a lack of export experience. Strongly backed by Japan's diplomatic nand military apparatus, Mitsubishi Heavy Industries won favour with its ultra-modern Mogami frigate, which was widely acknowledged as a more advanced warship than German firm TKMS's Meko A-200 vessel. TKMS sought to capitalise on its cheaper offer and the fact that modern Japan has no experience exporting warships in its attempt to win the contest. The general purpose frigate program will see 11 new warships built to replace the ageing Anzac-class frigates, which are regarded as the warhorse vessel of the Australian navy and are being gradually retired from service. In a bid to avoid the cost overruns and delays that have marred the Hunter-class frigate program, the government has ordered that the first three general purpose frigates be built overseas and that there be minimal changes to the existing ship design. The first frigate is scheduled to be delivered in 2029, with most of the ships to be built at the Henderson shipyards in Perth. Loading A lack of support from the Japanese government was blamed for the failure to win a contract to build a fleet of submarines for Australia, a contract that instead went to France's Naval Group before being scrapped when the AUKUS pact was agreed. Tokyo was determined to correct that mistake, arguing that awarding the contract to Mitsubishi would solidify Australia and Japan as 'special strategic partners' in the Indo-Pacific, allowing their navies to operate more closely at a time of rising tensions in the region.

The Age
29 minutes ago
- The Age
Japan wins $10 billion contract to build warships for Australia
Japanese firm Mitsubishi Heavy Industries has won a keenly fought contest to build $10 billion worth of warships for the Australian navy, beating its German rival and overcoming concerns about a lack of export experience. Strongly backed by Japan's diplomatic nand military apparatus, Mitsubishi Heavy Industries won favour with its ultra-modern Mogami frigate, which was widely acknowledged as a more advanced warship than German firm TKMS's Meko A-200 vessel. TKMS sought to capitalise on its cheaper offer and the fact that modern Japan has no experience exporting warships in its attempt to win the contest. The general purpose frigate program will see 11 new warships built to replace the ageing Anzac-class frigates, which are regarded as the warhorse vessel of the Australian navy and are being gradually retired from service. In a bid to avoid the cost overruns and delays that have marred the Hunter-class frigate program, the government has ordered that the first three general purpose frigates be built overseas and that there be minimal changes to the existing ship design. The first frigate is scheduled to be delivered in 2029, with most of the ships to be built at the Henderson shipyards in Perth. Loading A lack of support from the Japanese government was blamed for the failure to win a contract to build a fleet of submarines for Australia, a contract that instead went to France's Naval Group before being scrapped when the AUKUS pact was agreed. Tokyo was determined to correct that mistake, arguing that awarding the contract to Mitsubishi would solidify Australia and Japan as 'special strategic partners' in the Indo-Pacific, allowing their navies to operate more closely at a time of rising tensions in the region.

Sydney Morning Herald
2 hours ago
- Sydney Morning Herald
Australia news LIVE: Burke vows to protect Australians from Middle East tension; Trump to hike tariffs on India amid Russia links
Latest posts Latest posts 6.47am Trump to hike tariffs on India for buying Russian oil By Michael Koziol US President Donald Trump says he will hike tariffs on India from their already-high level of 25 per cent due to the country's ongoing purchases of Russian oil amid the war against Ukraine. In a sign of the strained relations between the two countries, India quickly branded Trump's move 'unjustified and unreasonable', and said it would take all necessary measures to safeguard its economic security. The threat, which has not yet been acted on, underlines Trump's preference for using tariffs for geopolitical leverage, and comes as his deadline looms for commitments from Russia's Vladimir Putin on ending the war, which has now raged for three-and-a-half years. There have been mixed reports about India's intentions over the past week as the US stepped up pressure on the world's most populous nation to back away from its reliance on Russian crude oil, which now accounts for about a third of India's supplies. 6.44am Tesla grants Musk $46 billion stock award Tesla approved an interim stock award worth about $US30 billion ($46 billion) for chief executive officer Elon Musk, a massive payout meant to keep the billionaire's attention on the automaker as a legal fight over a 2018 pay package drags on. The new agreement includes 96 million shares of the automaker that will vest if Musk continues to serve in the top post for another two years, the company said in a regulatory filing. The restricted stock has an exercise price of $US23.34, equal to the price in the prior compensation plan. The move underscores Musk's grip on the company, even as it struggles with falling electric vehicle sales and a slumping stock price. The world's richest person has said he wants a greater stake in Tesla as he reorients it around futuristic pursuits including artificial intelligence and driverless vehicles. 6.39am What's making news today By Daniel Lo Surdo Hello and welcome to the national news live blog. My name is Daniel Lo Surdo, and I'll be helming our live coverage this morning. Here's what is making news today: Home Affairs Minister Tony Burke has vowed to protect Australians from the 'tinderbox' of tension stemming from debate about the Middle East, saying he was blocking visas for potentially divisive visitors at an unprecedented rate. In an interview with this masthead, Burke said he 'did not care' if he was accused of stymying debate about controversial issues in favour of protecting social cohesion. US President Donald Trump says he will hike tariffs on India from their already-high level of 25 per cent due to the country's ongoing purchases of Russian oil amid the war against Ukraine. India quickly branded Trump's move, a threat that has not yet been acted on, 'unjustified and unreasonable', and said it would take all necessary measures to safeguard its economic security. The Australian sharemarket is set to grow on Tuesday, after Wall Street recovered much of the sharp losses incurred following Trump's latest tariff announcement last week. Trump has been critical of the US Federal Reserve, which has kept interest rates unchanged amid concerns about the impact of Trump's tariff agenda on prices for American households.