Story perspectives

Australia Secures Three Ready-Made Virginia Submarines, $360B Deal

5/31/2026

Summary

Story summary

Australia will acquire three already-operating Virginia-class submarines instead of a mix of new and used vessels.
Defence ministers announced the acquisition at the AUKUS Defence Ministers’ Meeting in Singapore, noting the program will cost over $360 billion across three decades.
Greens senator David Shoebridge called the deal a ‘dud deal’ for Australia.
Defence Minister Richard Marles said up to AUD $8 billion will fund infrastructure and logistics at HMAS Stirling.

History

Historical Context

The six Collins-class diesel-electric submarines, built in Australia from 1990 to 2003 at a cost that rose from the original A$3.9 billion budget to over A$5 billion, suffered chronic technical faults and low readiness. After the 2021 cancellation of France’s replacement bid, Australia turned to the AUKUS partnership and, at a 2023 Singapore summit, secured US-UK Virginia-class nuclear submarines for $360 billion.

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Story summary

Australia will acquire three already-operating Virginia-class submarines instead of a mix of new and used vessels.
Defence ministers announced the acquisition at the AUKUS Defence Ministers’ Meeting in Singapore, noting the program will cost over $360 billion across three decades.
Greens senator David Shoebridge called the deal a ‘dud deal’ for Australia.
Defence Minister Richard Marles said up to AUD $8 billion will fund infrastructure and logistics at HMAS Stirling.

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