06 June 2014

Hanjin christens five new vessels in Subic

Five new vessels were christened on Wednesday by Hanjin Heavy Industries & Construction-Philippines (HHIC-Phil) at their shipbuilding facility here – a historic feat and testament to the country’s growing capability in shipbuilding.

The five newly built 5,400 TEU (20-foot equivalent units) container carrier ships were ordered by Oaktree Capital Management, LP, a global asset management firm specializing in alternative investment strategies.

The five container carriers were named MV Wide Alpha, MV Wide Bravo, MV Wide Charlie, MV Wide Delta, and MV Wide Echo, respectively. Each has an overall length of 255m, breadth of 37.3m, depth of 22m, design draft of 12m, deadweight of 65,347M/T, guaranteed speed of 21.5 knots and main engine MAN-B&W 6G80ME-C9.2.

Among those present at the unveiling ceremony were Hanjin-Phil senior officials led by President Jin Kyu Ahn, Oaktree Senior Vice President Andreas Kraemer, Starboard Ventures Limited CEO Roger Iliffe, investors, high-ranking officials of multinational banks, and representatives from classification society DNVGL.

Ahn said Hanjin-Phil was extremely happy to collaborate with a professional and respected organization like Oaktree and hopes to continue the mutually beneficial relationship for future projects.

“We do turn great challenges into positive opportunities to improve our products even better to meet our clients’ increasing demands for high technology yet cost-efficient vessels. Hanjin-Phil Inc. never rested on its laurels as we continue to explore ways and means to further maximize and advance our shipbuilding capability for our clients’ full satisfaction,” Ahn added.

Hanjin has invested US$1.7 billion worth of foreign direct investments in the Philippines to establish a shipyard in Subic Bay Freeport. Being an export oriented enterprise for new vessels since 2009, Hanjin has consistently topped the list of exporters in the country, boosting the Philippines’ export sales portfolio year-on-year.

Hanjin Subic shipyard employs more than 20,000 Filipino workers. With the shipyard’s capital and labor-intensive operations, livelihood and job opportunities abound for many local companies, start-up enterprises, public establishments and local residents in the surrounding communities.

Hanjin Subic shipyard continues to be a reliable driver of inclusive economic growth and development in the countryside as the backbone of the Philippine economy.

The Philippines ranks fourth among the largest shipbuilding nations, while Hanjin-Phil Inc. is number 10 of less than a hundred shipbuilding companies across the globe, according to the May 2014 shipping journal. (Jonas Reyes, Manila Bulletin)

PROUDLY PHILIPPINE-MADE — ‘M/V Wide Alpha’ (foreground), ‘M/V Wide Echo,’ and ‘M/V Wide Charlie’ are seen here at the quaywall of the Hanjin Shipbuilding facility in Redondo Peninsula, Subic Bay Freeport on Wednesday. The three are part of the five newly-christened 5,400 TEU (twenty-foot equivalent unit) container vessels made in the Philippines by shipbuilder, Hanjin Heavy Industries and Construction-Philippines. (Jonas Reyes)