Greek business community eyes investments in Subic Freeport

Greek companies under the Hellenic-ASEAN Business Council (HABC) are considering investing in this premier Freeport after expressing positive feedback during their visit here on November 7, 2025.

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Eduardo Jose L. Aliño welcomed the HABC delegation led by its Chairman Nick Stasinopoulos and Athens Ambassador to the Philippines Giovanni E. Palec upon arrival at the agency’s administration building. 

SBMA Board Director Atty. Ruel John Kabigting, Business and Investment Group (BIG) Senior Deputy Administrator (SDA), Renato Lee III, Business and Investment Department (BID) for Logistics account officer Joemando De Vera assisted Aliño in welcoming the foreign dignitaries during their visit.

According to HABC Chairman Stasinopoulos, the visit strengthens economic trade and cultural ties with the Philippines and Southeast Asian countries. 

“Our purpose here is to strengthen the Greek presence and to create more awareness of the potential in investments, specifically now in Subic, and how we can bring stakeholders together and facilitate joint ventures and interesting projects that could be a win-win situation for the community and the Philippine government,” he added.

Stasinopoulos hosted the first Philippine Business Roundtable in September 2025, which encouraged Greek companies to invest and do business in the Philippines.

At a presentation held at the SBMA Corporate Boardroom, the HABC delegates showed interest in shipbuilding and the cruise ship industry, which have been major staple activities in the Subic Bay Freeport Zone. 

The CREATE MORE Act, which aims to attract more foreign investments, was also discussed during the briefing, where Aliño said that the agency offers benefits such as a 20% corporate income tax rate (from 25%) for registered business enterprises, a 100% deduction on electricity expenses, and additional deductions for trade fairs and tourism investments.

Meanwhile, Lee said that local purchases made by the investors are VAT zero-rated, and importations are VAT-exempt for export-oriented enterprises. He added that tax and duty exemptions are provided for donations to public schools and government-owned or controlled corporations (GOCCs).

The HABC is a non-profit organization dedicated to fostering bilateral trade, investment, and socio-cultural collaboration between Greece and the ten member-nations of the Association of Southeast Asian Nations (ASEAN). It serves as a strategic platform that connects key stakeholders, including government officials, business leaders, and industry experts, to explore new avenues of cooperation. (MPD-SBMA) 

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PBBM leads inauguration of HD Hyundai shipyard in Subic

Shipbuilding makes a grand comeback in the Philippine maritime industry.

President Ferdinand R. Marcos Jr. led the inauguration ceremony of HD Hyundai Heavy Industries Philippines Inc. at the Agila Southern Yard, Subic Freeport Zone on September 2, 2025 —a landmark event that marks the revival of the country’s shipbuilding enterprise.

The ceremony formally launched Hyundai’s operations in the Philippines, reinforcing the country’s position as a strategic hub for maritime and industrial growth in the Asia-Pacific region.

A symbolic steel-cutting ceremony marked the commencement of construction on the shipyard’s first vessel, signaling the beginning of a new era for local shipbuilding and engineering capabilities.

The President’s presence underscores the Philippine government’s strong policy support and commitment to attracting long-term, high-impact investments in key industries. 

Long-term employment

In his message, Marcos Jr. emphasized the industry’s capacity to expand operations and provide long-term employment opportunities.

“With Hyundai Heavy Industries investing in Subic, our shipyard capacity will significantly increase from 1.3 million to 2.5 million deadweight tons, from handling four to five massive oil tankers to about eight of those ships,” the President said. 

He also highlighted government programs aimed at preparing more workers for the sector. 

The Technical Education and Skills Development Authority (TESDA) has partnered with Hyundai to operate a training center in Subic, producing its first 24 welding graduates now employed at the yard, while additional training slots have been made available to maintain a steady supply of skilled workers.

Korean Ambassador to the Philippines Lee Sang-hwa said the project reflects the strengthening economic ties between the two countries.

“Today’s event is, above all, a victory for the Philippines. It is a tangible result of President Marcos’ tireless efforts to attract foreign investment through the CREATE More [Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy] Act,” Lee said.

He added that Hyundai is projected to employ 7,000 to 8,000 workers in the coming years, calling the initiative a “powerful tripartite partnership” wherein Korea contributes shipbuilding technology, the United States provides financial support, and the Philippines offers skilled manpower and a strategic location.
 

Global shipbuilding hub 

HD Hyundai Heavy Industries CEO Kim Sung-joon also emphasized the Philippines’ potential to become a global hub for shipbuilding.

“Fortunately, the Philippines possesses all the ideal conditions to become a major player in the shipbuilding industry—with a blessed maritime environment, a young and highly skilled workforce, and the committed support of the government,” he said.

For many, the reopening represents more than industrial revival—it means jobs close to home.

Marlon Eugenio, a former employee of the Hanjin Shipyard, expressed his gratitude.

“Nagpapasalamat ako sa ating pamahalaan lalong lalo na kay Presidente Marcos na nagbigay ng opportunity ulit na mabuksan ang pinakamalaking shipyard. Nabigyan muli ang mga kapwa ko worker na magkaroon ng trabaho at magkaroon ng panibagong talento sa paggawa ng barko,” he said.

HD Hyundai’s Subic operations will cover 200 hectares under a 10-year lease with Agila Subic, a Cerberus portfolio company.

The facility is set to begin full operations in January 2026, including both shipbuilding and offshore wind platform construction. (PCO/PIA Region 3-Zambales)

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PBBM welcomes Cerberus, Hyundai tie up in Subic Bay to restore PH shipbuilding glory days

The partnership between US equity firm Cerberus and South Korea’s HD Hyundai Heavy Industries in the strategically located Subic Bay will allow the Philippines to regain its footing in the global shipbuilding industry, President Ferdinand R. Marcos Jr. said Tuesday. 

During the announcement of the partnership in Malacañang, Marcos welcomed the two global companies to the Philippines and expressed optimism about the project’s potential impact on the country’s economy. 

He said Hyundai's investment would not only open “new doors for our offshore wind industry but will also bring maritime manufacturing back to Subic and eventually restore the glory days of shipbuilding to our shores.” 

“Not only would it generate thousands of jobs, but also enable the transfer of critical skills and improve the Philippines' position in the global market,” he said. 

“The Philippines is also quite excited to see the realization of Cerberus’ plans, including its interest in microelectronics, semiconductors, and critical metals.” 

Hyundai already performs ship repairs and maintenance at the Agila Subic yard, which Cerberus acquired in 2022 after its former owner went bankrupt. 

In his message, Marcos noted that since Cerberus’ takeover of the shipyard, it has been “hard at work to revitalize the shipyard” and even attracted other tenants, including Subcom, the world's leading subsea cable company, and V2X, a global logistics corporation. 

Cerberus is a global alternative investment firm with assets across credit, private equity, and real estate strategies. 

“And you have worked closely with our Philippine Navy while establishing a world-class operating base for our Navy,” he said. 

Currently, the Philippine Navy has a naval operating base in Subic with nearly 1,000 personnel. 

The Chief Executive also acknowledged HG Hyundai, one of the largest producers of ships in the world, saying that its foray into the country would “usher in a new era of shipbuilding” in the Philippines. 

In 2022, according to Marcos, the country was the seventh-largest shipbuilder in the world, contributing almost 400,000 gross tons of newly built sea and ocean-going vessels. 

“This is a far cry from our capacity in the past, and even far behind the output of shipbuilding behemoths like South Korea and Japan,” he said. 

“With this initiative of Cerberus and HG Hyundai, we will have a fresh start and a strong foundation in realizing our vision to be amongst the largest and most consequential shipbuilders in the world.” (PNA)

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SBMA more than happy to accommodate Hyundai Heavy in Subic Freeport

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Rolen C. Paulino welcomed the possibility of South Korean shipbuilder Hyundai Heavy Industries (HHI) investing inside this premier Freeport.

The statement came after outgoing Department of National Defense (DND) Secretary Delfin Lorenzana revealed that the South Korean shipbuilder plans to construct a maintenance depot at the former Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) shipyard in Redondo Peninsula.

“The company plans to have a maintenance depot here since many of our military ships are built by Hyundai. They would provide the maintenance needs of these ships,” he said.

Paulino said that the plans for the construction of HHI’s maintenance depot here would mean more job opportunities, and would generate income to the agency that can be added to the national coffers. He said that the construction of the HHI maintenance depot is more efficient rather than sending the ships back to South Korea for repairs.

Former Secretary Lorenzana cited that the country ordered the Philippine Navy (PN)'s first two missile frigates, BRP Jose Rizal (FF-150) and BRP Antonio Luna (FF-151) from the South Korean shipbuilder. He added that HHI also secured the P28-billion contract for the two anti-submarine corvettes last December and the P30-billion offshore patrol vessel (OPV) deal.

The company is also the contractor for the South Korean Navy's Pohang-class corvettes, of which one is now in service with the PN, with another expected to be transferred soon. The company and the DND signed a lifetime service support contract for the maintenance and upkeep of the two Jose Rizal guided-missile frigates.

Chairman Paulino said that it is only fitting that the company construct its maintenance depot at the former Hanjin shipyard since Agila Subic (now owner of the Hanjin shipyard) is housing the base operations of the Philippine Navy.

 The SBMA chief also cited that after HHIC left, thousands of skilled workers in the shipbuilding sector have been unemployed and are seeking other job opportunities, but were unlucky due to the recent pandemic.

“The investment of Agila Subic has revived the shipbuilding industry of the Subic Bay Freeport back to life. We can expect more job opportunities for skilled shipbuilders in the area since more and more companies are looking into investing into Agila Subic’s shipbuilding industrial park,” he said.

The Philippine Navy occupies the northern portion of the former HHIC-Phil shipyard that spans around 100 hectares of the site's more than 280 hectares.

The activation and subsequent operationalization of NOB Subic are in line with the Navy's scaled-up maritime operations to support the needed base services of the deep-draft vessels such as Jose Rizal-class missile-frigates, Del Pilar-class offshore patrol ships, and Tarlac-class landing docks.

The newly activated base will house select fleet marine units, maintenance, and replenishment facilities that will enable the fleet to sustain the operational requirements of the current and future capital vessels. (MPD-SBMA)

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SBMA conducts inspection of future Agila Subic facility

The Subic Bay Metropolitan Authority (SBMA), along with local and foreign dignitaries, conducted a site inspection of the future Agila Subic facility last May 15 at the Redondo Peninsula here in this premier Freeport Zone.

SBMA Chairman and Administrator Rolen C. Paulino led the delegation along with Olongapo City Mayor Lenj Paulino, and the Philippine Navy.

Paulino said that one of the mandates given to him by President Rodrigo Duterte is to ensure a smooth transition of the company to the former Hanjin shipyard facility, and bring to fruition what the former administration of the agency had started.

Now called Agila Subic, the former Hanjin shipyard will be housing two tenants.

One tenant Vectrus, will be occupying most of the shipbuilding area of the facility, including the quays.  Meanwhile, the Philippine Navy is currently occupying the former Hanjin administrative office, mess hall, and barracks.

Vectrus is a global service solutions provider to the United States government and across the world, which offers facility and base operations, supply chain and logistics services, information technology (IT) mission support, and engineering and digital integration services.

Former Hanjin workers who have been skills-trained will be hired by the company since it will require skilled workers.

29 workers have already been hired and the company hopes to employ more workers who used to work for the shipbuilding company.

Meanwhile, Mayor Lenj Paulino said that the city government plans to provide skills training to its residents as the re-elected official sees a boom in employment in the ship repair industry in the area. He added that companies, who are looking for skilled workers, would only need to contact the city government.

Recently, the Department of Finance stated that the Fiscal Incentives Review Board (FIRB) has approved the proposed tax perks as endorsed by the SBMA, for the rehabilitation of the ageing shipyard.

The project will be receiving special corporate income tax (SCIT), value-added tax (VAT) exemption from importation, VAT zero-rating on local purchases, and duty exemption on importation.

The total project cost is estimated at Php17 Billion. (MPD-SBMA)

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US-based Cerberus acquires Hanjin shipyard in Subic Bay

United States-based private equity firm Cerberus Capital Management has completed its takeover of the shipyard previously run by Hanjin Philippines in Subic Bay with the recent conclusion of agreements on the facility, government officials confirmed.

"The completion of the Subic Bay shipyard will redound to benefits for the country, bring jobs to the local communities, increase economic activity, and at the same fortify our strategic security measure," Philippine Ambassador to the US Jose Manuel Romualdez was quoted as saying in a press release early Friday morning.

Manila's embassy in Washington said Romualdez made the remarks during a diplomatic reception on Apr. 19. The envoy also expressed his appreciation to officials of both countries along with executives of Cerberus for their efforts, which led to the conclusion of the deals.

"Great to see the completion of the acquisition of Hanjin shipyard in Subic Bay by a U.S.-based firm. An important example of U.S.-Philippine public-private partnership," Ely Ratner, U.S. assistant secretary of defense for Indo-Pacific security affairs, tweeted on Thursday.

Cerberus co-founder and co-chief executive officer Steve Feinberg also recognized the support offered by both the Philippine and American governments in ensuring the agreements' completion, said the embassy.

"Working with the United States on this project will help ensure that we are able to protect our interests not only for our country but the whole region," Romualdez said.

The facility at the former giant U.S. naval base has caught the attention of Chinese investors given its strategic location near the West Philippine Sea.

Details of the purchase, including the price, were not disclosed. Reuters reported last month that Cerberus was buying the debt-laden shipyard for $300 million.

Foreign Affairs chief Teddyboy Locsin called the transaction the "biggest public-private partnership in the 75-year history of Philippine-US relations." (CNN Philippines)

Source: https://www.cnnphilippines.com/news/2022/4/22/Cerberus-conclusion-agreements-Hanjin-shipyard-Subic-Bay.html 

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Subic Freeport firm builds PH coastal defense boats

A Filipino-owned boat building company based in this Freeport is now producing high-speed patrol boats to boost the Philippine military’s littoral combat force.

Wilma Eisma, chairperson and administrator of the Subic Bay Metropolitan Authority (SBMA), said on Friday that Safehull Marine Technologies, Inc., which occupies a factory and warehouse at Subic’s Global Industrial Park, has delivered 21 high-speed tactical watercraft (HSTW) for deployment by the Philippine National Police (PNP) in Mindanao this year.

“These are sleek, good-looking boats that you would mistake for pleasure yachts, but they’re really fast and stable and could be mounted with guns for tactical missions,” Eisma said.

“It makes us proud that these vessels are made in Subic, and that they are a product of a Filipino company,” she said.

The 40-foot long HSTWs were commissioned by the PNP for patrolling the country’s exclusive economic zone, law enforcement and peace and order, as well as for humanitarian assistance and disaster response.

Each equipped with three Honda outboard motors, the fiberglass-hulled boats can reach a top speed of 45 knots and are intended to operate approximately 200 miles from shore under slight to moderate sea conditions.

Safehull company officials said they were able to make a breakthrough in production after perfecting the vacuum infusion process, which shortened the period of hull construction from three weeks to one day.

Safehull Marine, which is a wholly-owned subsidiary of the Manila-based Propmech Corporation, is engaged in the fabrication of ship and its components, ship repair, and engineering services for design and installation of parts and modules.

Thirty percent of the boats built here in Subic are for clients in the defense industry, including the United States military.

The boats are designed, assembled and outfitted in Subic by Safehull and Propmech by means of local naval architects and workers, and in partnership with foreign technology companies like the Damen Group of Netherlands, Saab Group of Sweden, Taiwan’s Lung Teh Shipbuilding Co., and Israel’s Rafael Advanced Defense System

The Propmech and Safehull joint venture has also built three multi-purpose attack craft (MPAC) that were delivered to the Philippine Navy in 2009, 2012 and 2017; a 15-meter landing craft vehicle personnel (LCVP) for the Philippine Navy; as well as 136 units of 50-horsepower rubber boats for the PNP.

This year, it is scheduled to build another unit of MPAC that the Philippine Navy is outfitting with short-range surface-to-surface missile.

Aside from the defense projects, Safehull and Propmech also build 21-meter passenger/cargo boats; multi-purpose patrol boats for the Bureau of Fisheries and Aquatic Resources; and aluminum rescue boats for the Philippine Coast Guard. (Malou Dungog, PNA)

PHOTO:

A high-speed tactical watercraft being produced by Safehull Marine Technologies Inc. inside a warehouse at the Subic’s Global Industrial Park. (Malou Dungog, PNA)

http://www.pna.gov.ph/articles/1064059

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186 applicants hired on-the-spot in Subic job fair

A total of 186 applicants were hired on the spot during the Build, Build, Build= Jobs, Jobs, Jobs Caravan held in Subic Bay Freeport on Saturday, February 9, to help provide alternative employment to workers who were laid off recently at the Hanjin shipyard.

The Build, Build, Build team of the Department of Public Works and Highways (DPWH), Department of Transportation (DOTr,) and the Bases Conversion and Development Authority (BCDA) organized the job fair in partnership with the Subic Bay Metropolitan Authority (SBMA) and other agencies.

Around 25,000 jobs were opened to displaced Hanjin workers, as well as walk-in applicants, by 103 participating firms, mostly locators in the Subic Bay Freeport and contractors of government projects.

SBMA Chairman and Administrator Wilma T. Eisma thanked the organizers and participating firms during the fair and cited the collaboration between public and private sectors in maintaining a strong workforce to sustain the economic growth of the Central Luzon region.

“We acknowledge the efforts of the government through the BBB Team to come up with an immediate program to address the plight of displaced Hanjin workers,” Eisma said.

“This is only the second Jobs, Jobs, Jobs caravan of President Duterte, and Subic was chosen to be the venue. With all your support, industries here in the Subic Bay Freeport will continue to flourish,” Eisma added.

Villar said President Duterte ordered the conduct of a jobs caravan upon hearing about the problem facing Hanjin workers. “Ang pangarap n’ya sa Pilipinas ay lahat po ng ating kababayan ay magkakaroon ng trabaho, kaya po may Build Build Build program tayo,” he added.

The inter-agency project was held with the cooperation of the DOLE, Department of Finance, Department of Budget and Management, Department of Trade and Industry, National Economic and Development Authority, and Clark Development Corporation.

The jobs fair was also graced by Senator Richard Gordon, Labor Secretary Silvestre Bello III, Transportation Secretary Arthur Tugade, BCDA President Vince Dizon, and Zambales First District Rep. Jeffrey Khonghun.

The day-long jobs caravan held at the SBMA Gymnasium drew out 4,051 job applicants, said Rommel Aquino, manager of the SBMA Labor Department’s Manpower Services Division. These included 2,464 former Hanjin shipyard workers who comprised 60.8% of the registered participants.

Meanwhile, out of the 186 applicants hired on the spot (HOTS), 99 were former Hanjin workers. The HOTS were hired as welders, electricians, masons, fitters, engineers, drivers, painters, scaffolders, riggers, admin assistants, clerks, and sales and marketing staff, among others.

Aquino added that applicants who lacked some requirements like trade test certificate and medical certificate may be accepted upon submission of the needed documents.

During the fair, Chairman Eisma also stressed that the SBMA has never failed to fulfil its mandate of generating employment and that it has done so by regularly organizing job fairs every year.

Despite the current financial difficulties hounding Hanjin, Eisma said she is still hopeful that Subic Freeport businesses and industries will continue to flourish, provide jobs to residents, and help in the economic growth of nearby communities.

The Subic jobs caravan was the second leg of the Build, Build, Build=Jobs, Jobs, Jobs project. The first was held in Manila while the third and fourth will be in Cebu and Davao, respectively. (RFD/MPD-SBMA)

PHOTOS:

[1-2] Job applicants submit requirements to recruiters from various companies that participated in the Build, Build, Build=Jobs, Jobs, Jobs Caravan held in the Subic Bay Freeport on February 9. (AMD/MPD-SBMA)

[3] Build, Build, Build=Jobs, Jobs, Jobs Caravan organizers and guests do a “Duterte fist” during the jobs fair held at the SBMA Gym, from left: Trade Undersecretary Rowel Barba, Labor Secretary Silvestre Bello III, Senator Richard Gordon, SBMA Chairman and Administrator Wilma Eisma, Public Works Secretary Mark Villar, and Zambales 1st District Rep. Jeffrey Khonghun. (AMD/MPD-SBMA)

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Foreign shipbuilders eye Hanjin takeover

MANILA - Shipbuilders from the United States, Japan, South Korean, Indonesia, Australia and Turkey have expressed interest in taking over the operations of cash-strapped Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), Defense Secretary Delfin Lorenzana said Monday.

Lorenzana was reacting to a question regarding the government's plans on HHIC-Philippines during the National Defense College of the Philippines Alumni Forum, "The National Security Outlook for the Philippines in 2019", at the NDCP Compound, Camp Aguinaldo in Quezon City.

"There are several shipyards, ship companies around the world, (which have expressed interest in taking over HHIC-Phil's operations), some US, Japanese, (South) Korean, Indonesian and also Australian, I think lately, I also heard some Turkish or some European shipyards are already interested," Lorenzana said.

But if worse comes to worse, Lorenzana said the government could take over as the Senate has already set aside some money for such eventualities.

"Hanjin shipyard (has) not actually filed for bankruptcy it is just asking for rehabilitation, because the problem is cash flow. It is still building some ships here in the Philippines but it needs money to keep operating (on a) day-to-day basis so it’s still being in the works," he said.

HHIC-Phil earlier revealed that it has a total of USD1.3 billion outstanding loans -- USD400 million from Philippine banks and USD900 million from South Korean lenders.

According to Subic Bay Metropolitan Authority, HHIC-Phil filed on January 8 a petition at the Regional Trial Court in Olongapo City "to initiate voluntary rehabilitation under Republic Act 10142, otherwise known as An Act Providing for the Rehabilitation or Liquidation of Financially Distressed Enterprises and Individuals".

The shipbuilder also sought help from the government to find investors that can take over the operation of its shipyard in Subic, as well as to help its employees, who have taken the brunt of the company's financial woes.

In December 2018, the company laid off more than 7,000 workers. (PNA)

PHOTO:

Large carrier ships being built at Hanjin shipyard in Subic Bay Freeport.

http://www.pna.gov.ph/articles/1060952

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‘Build Build Build’ team sets Subic job fair for displaced Hanjin workers

The “Build Build Build” team composed of various government agencies will gather around 70 employers from different contractors involved in the government’s infrastructure program, and companies within the Subic Bay Freeport Zone for a Jobs Caravan on February 9, Saturday.

To be held at the SBMA Gym in the Subic Bay Freeport, the Build Build Build = Jobs Jobs Jobs Caravan was initiated to provide employment to the displaced workers of Hanjin Heavy Industries and Construction (HHIC) Philippines.

Wilma Eisma, chairperson and administrator of the Subic Bay Metropolitan Authority (SBMA), said the Authority is committed to find jobs for the displaced Hanjin workers.

“Subic is happy to be part of this project to bring greater positive social impact to our people. We are committed to find every opportunity for the SBMA to make more jobs available and catalyse greater growth in Central Luzon and the rest of the country,” Eisma said.

Labor Secretary Silvestre Bello III assured that there will be no job-skill mismatch after DOLE conducted a profiling activity on 2,779 Hanjin workers.

“Around 65 percent or 1,801 of the 2,779 profiled Hanjin workers are skilled in carpentry, 24 percent or 661 on the other hand have skills in vulcanizing and welding, hence there will be no problem with job-skill mismatch if they work in the construction industry,” Bello said.

“We are bringing job opportunities closer to the people. The available jobs guarantee decent domestic employment for our highly skilled workers. They need not sacrifice being away to provide for their families because local productive work abounds,” Bello added.

Finance Secretary Carlos Dominguez III, for his part, urged jobseekers to explore employment opportunities in nearby Clark.

“We believe there are enough jobs available at Clark Ecozone alone for the displaced workers of Hanjin Philippines. According to the Bases Conversion and Development Authority (BCDA), a lot of jobs for skilled workers are needed at Clark as it shifts to high gear its program to transform New Clark City into the country’s first smart and green metropolis,” Dominguez said.

The Jobs Caravan is spearheaded by the Department of Public Works and Highways (DPWH), Department of Transportation (DOTr), Department of Finance (DOF), Department of Budget and Management (DBM), National Economic and Development Authority (NEDA), Department of Labor and Employment (DOLE), Department of Trade and Industry (DTI), BCDA, SBMA, and the Clark Development Corporation.

“This is an opportunity for us to aid those who lost or will lose their jobs in Hanjin, and at the same time complement the manpower requirement of the BBB program of the government,” said DPWH Secretary Mark Villar, noting the need for additional labor force to match the yearly additional budget in infrastructure projects.

“The Build, Build, Build program remains a priority of President Rodrigo Duterte’s government. This program, which is expected to generate thousands, even millions of jobs nationwide will be able to provide options for our displaced workers,” said Villar.

According to DOTr Secretary Arthur Tugade, at least a thousand jobs will be available at the Caravan which include vacancies for construction workers, welders, carpenters, engineers, and administrative staff.

DTI Secretary Ramon Lopez noted that opportunities in the country are booming.

"Tuloy po ang paghandog ng oportunidad, at paggaling ng abilidad, para lahat ay umunlad," Lopez said.

Jobseekers may already pre-register for the Job Caravan at the SBMA Gym. Pre-registration will be open on January 30 to 31, February 4, and February 6 to 7 from 8:30 a.m. to 2:00 p.m. (HEE/MPD-SBMA)

PHOTO:

Former Hanjin workers pre-register with the SBMA Labor Department for a jobs fair on February 8 at the Subic Bay Freeport Zone.

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RTC grants Hanjin petition for rehabilitation

The Olongapo City Regional Trial Court (RTC) Branch 72 on Monday (January 14) granted Hanjin Heavy Industries and Construction-Philippines’ petition for receivership and put the Korean shipbuilding firm under corporate rehabilitation.

On Jan. 8, Hanjin sought relief from the Philippine government, filing a petition with the Olongapo RTC to initiate voluntary rehabilitation under Republic Act 10142 or the “Act Providing for the Rehabilitation or Liquidation of Financially Distressed Enterprises and Individuals.”

Hanjin, the fifth largest shipbuilder in the world and biggest investor at the Subic Freeport with $2.3 billion, revealed recently it owes some $400 million in outstanding loans from Philippine banks on top of another $900 million in debt with lenders in South Korea.

Stefani Saño, a former member of the Subic Bay Metropolitan Authority (SBMA) board as well former senior deputy administrator for investment and business group of SBMA, was appointed by the court as the rehabilitation receiver.

The financial losses allegedly stemmed from a slump in the shipbuilding industry.

Pursuant to RA 10142, Olongapo RTC Branch 72 Presiding Judge Richard Paradeza declared Hanjin under rehabilitation and asked the company to publish the Jan. 14 commencement order in a newspaper of general circulation for two consecutive weeks.

It also ordered the shipbuilding giant to serve a copy of the petition to its creditors – the Bureau of Internal Revenue, Securities and Exchange Commission, Bangko Sentral ng Pilipinas, Insurance Commission, Department of Labor and Employment (DOLE), Housing and Land Use Regulatory Board, Department of Trade and Industry and SBMA.

The court also tasked the company to serve a copy of the commencement order to its foreign creditors and ensure that they receive a copy within 15 days before the initial hearing set on Feb. 8.

In its order, the court said Hanjin’s creditors must file verified claims within five days before Feb. 8 or they will not be entitled to participate in the proceedings.

But the creditors may be entitled to receive distributions arising from the proceedings if recommended and approved by the rehabilitation receiver and the court itself.

The court also ordered creditors, government agencies and all interested parties to file and serve to Hanjin a verified comment/opposition to the petition, together with their supporting affidavits and documents within 15 days before the initial hearing on Feb. 8.

The court also prohibited the company’s supplier of goods and services from withholding their supplies and services in the ordinary course of business for as long as Hanjin makes payment from the issuance of the commencement order.

The court also authorized the company to pay for its administrative expenses as they become due.

It said contracts not confirmed in writing by Hanjin within 90 days following issuance of the commencement order will be considered terminated. (Bebot Sison Jr. with Sheila Crisostomo, Philippine Star)


https://www.philstar.com/headlines/2019/01/16/1885490/rtc-grants-hanjin-petition-rehabilitation#0ezcQ5IYvTgXVUm0.99

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SBMA ‘saddened’ by Hanjin debt problem

Subic Bay Metropolitan Authority (SBMA) Chairman Wilma T. Eisma said she was saddened to learn that Korean shipbuilder Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) is facing serious financial trouble.

Hanjin, which is currently the biggest foreign investor in the Subic Bay Freeport Zone, filed on Tuesday a petition at the Regional Trial Court in Olongapo City to initiate voluntary rehabilitation under Republic Act 10142, otherwise known as “An Act Providing for the Rehabilitation or Liquidation of Financially Distressed Enterprises and Individuals”.

Hanjin officials, Eisma said, had revealed that the company owes some $400 million in outstanding loans from Philippine banks on top of another $900 million in debts with lenders in South Korea.

Eisma said she was informed that the company still has six pending multi-million new building projects at its Redondo Peninsula shipyard here, and that these may have to be cancelled if a rehabilitation plan does not materialize.

“The bottom line is that the company said it does not have enough cash to repay its loans, and that it cannot continue with its operations under these circumstances,” Eisma said.

“It’s really sad that Hanjin would be in dire financial straits after successfully building some of the world’s biggest ships here and putting the Philippines in the map as the world’s fifth largest shipbuilder,” she added.

HHIC-Phil, which has focused in building high-value vessels, was established in 2006 as a subsidiary of Hanjin Heavy Industries & Construction Co., Ltd., a multi-national company that provides shipbuilding, construction, and plant services in South Korea and internationally.

After frenzied construction of its 300-hectare shipyard began in May 2006, HHIC-Phil rolled out its first ship, the “Argolikos” in July 2008.

With some $2.3 billion in foreign direct investments here, the firm proceeded to manufacture some of the world’s biggest cargo and container ships, bulk carriers, liquefied petroleum gas carriers, very large crude oil carriers (VLCC) and very large ore carriers (VLOC).

According to company records, Hanjin has delivered since 2008 a total of 123 vessels to valued clients across the globe, thus cementing its foothold in the highly competitive shipbuilding market.

In the course of its operation, the Korean firm also became the biggest employer among all registered businesses in the Subic Bay Freeport Zone with some 30,000 employees at peak season, and was recognized by both the Philippine Exporter Foundation (Philexport) and the Department of Trade and Industry (DTI) as top export performer.

However, in the face of recent liquidity problem, Hanjin has laid off more than 7,000 workers last December, Eisma said. The firm is about to lay off another 3,000 early this year until just about 300 local workers and as few as seven Korean supervisors would remain in March to do facility maintenance, she added.

“The SBMA, of course, expressed its concern about the separation of shipyard workers, but we received assurances that those who were laid off were amply compensated. Still, we’re having this aspect checked out,” Eisma said.

She added that the SBMA is now working with Hanjin officials to find some way to keep the shipbuilder, which has helped build Subic’s huge reputation in the global maritime industry.

“I really hope that Hanin’s creditors would agree to some rehabilitation plan, or that the company would find some financial partner to continue with its shipbuilding operations in Subic,” Eisma also said. (HEE/MPD-SBMA)

PHOTO: 

Hanjin shipyard at the Subic Bay Freeport Zone

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The Philippines joins elite 20,000 TEU club

The Philippines celebrated another step towards the elite of shipbuilding with the delivery of its first 20,000 TEU class boxship.

South Korean shipbuilder Hanjin Heavy Industries and Construction-Philippines Inc. (HHIC-Phil) recently unveiled the CMA CGM Antoine de Saint Exupery, the first 20,600 TEU container vessel built in Subic Bay Freeport, the largest ship ever built in the Philippines and one of the biggest ships ever built in the world.

The CMA CGM Antoine de Saint Exupery is the first of three 20,600 teu boxships that HHIC-Phil is building for France’s leading liner group.

The ship has an overall length of 400 meters, a width of 59 meters, depth of 33 meters and gross tonnage tipping at 217,673 tons.

With a deck as big as three football fields combined, the CMA CGM Antoine de Saint Exupery is considered one of the biggest ships in the world today, HHIC-Phil officials said during the completion ceremony held at the firm’s Redondo Peninsula shipyard.

The mammoth container vessel, which was named after the French aristocrat and literary icon Antoine de Saint-Exupéry, was built over a period of one and a half years, from February 8, 2016, when the first steel cutting was made, to its launching in August 19 last year.

The CMA CGM Antoine de Saint Exupery is the first of three 20,600 TEU container ships that HHIC-Phil has committed to build for the French container transport and shipping firm CMA CGM (Compagnie Maritime d’Affrètement-Compagnie Générale Maritime, translated as Maritime Freighting Co.-General Maritime Co.).

Two other vessels of the same size and type are in advance stages of shipbuilding at Hanjin’s 326-hectare shipyard here.

The vessel completion ceremony here on Thursday was graced by noted government officials, led by former President and now Pampanga Rep. Gloria Macapagal-Arroyo, under whose administration the Hanjin shipyard was launched.

According to HHIC-Phil President Gwang Suk Chung, the delivery of the Antoine de Saint Exupery “represents a breakthrough in global shipbuilding,” as the Korean company’s cutting-edge technology complemented by the skills of Filipino workers successfully launched vessels of higher tonnage and value.

Chung also recalled that “the intensive support of the Philippine government” gave the Korean a robust head start in the country’s shipbuilding industry.

HHIC-Phil officials said that the firm still has a number of high-value commercial vessels on order with their launchings and deliveries spread across 2018 and 2019. These include liquefied petroleum gas carriers and crude-oil carriers, among others. In January last year, the HHIC-Phil marked another milestone with the delivery of Gener8 Hector, the first “very large crude carrier” ever constructed in the Philippines. The vessel was delivered to the United States-based crude-oil shipping company Gener8 Maritime.

In her speech, Arroyo cited the $2.3-billion investment by HHIC-Phil in the Subic Bay Freeport. She also noted that the Korean firm had also built a massive training facility for local workers.

Meanwhile, SBMA Chairman Wilma T. Eisma thanked HHIC-Phil on behalf of President Duterte, pointing out that the Hanjin shipyard had played a vital role in national economic growth.

“With the 113 ships that Hanjin has delivered since it began operations in 2007, Hanjin’s presence in the Subic Bay Freeport has made the Philippines the fourth-biggest shipbuilding nation in the world,” she said.

Eisma also urged the Korean firm to look after its Filipino workers, who are an integral part of the success of the company. “We ask you to protect our people, to look after our facilities, because Subic is our home,” she added.

Last year HHIC-Phil delivered its first VLCC. It also has LPG vessels on its orderbooks. In terms of area size, HHIC-Phil is among the very largest shipyards in the world. Its parent, Hanjin Heavy in Busan, South Korea, took the decision to expand overseas 12 years ago as its own facilities were too cramped at a time where ship sizes were growing rapidly.

Other notable shipbuilders in the Philippines are Tsuneishi and Keppel cementing the Philippines' position as the world’s fourth largest shipbuilding nation.

https://businessmirror.com.ph/hanjin-delivers-first-subic-made-20600-teu-class-container-ship/

http://splash247.com/philippines-joins-elite-20000-teu-club/

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Hanjin Philippines gets order to make 4 VLCCs at Subic

Subic Bay Freeport - The Philippines is set to become the country that will produce four of the biggest crude oil carriers in the world as Hanjin Heavy Industries and Construction-Philippines (HHIC-Phil) got an order yesterday for the production of four Very Large Crude-oil Carriers (VLCCs).

These VLCCs are the biggest in the world with a capacity of 320,000 deadweight tonnage (DWT) and is the first deal inked by Hanjin for this year.

HHIC-Phil shipbuilding facility inside the Subic Bay Freeport Zone

According to the company, the ships will be built inside Hanjin’s Redondo Peninsula Shipyard and have a deadline of until the second half of next year. With a measurement of 330 meters in length, 60 meters in width and 30.5 meters in breadth, these VLCCs will be equipped with an eco-design component.

“This contract carries very positive news for all stakeholders considering the stagnant shipping industry nowadays. We look forward to a more productive cooperation among our partners in producing highly cost efficient and technologically advanced commercial ships that shape the future of the shipbuilding industry today and beyond,” HHIC-Phil President Gwang Suk Chung said.

He added that each of the VLCC “can load more than 65.14 million barrels of crude oil or roughly the equivalent of 13-day crude oil supply requirement of the entire Philippines in 2015. This is the first-time that such type of vessel will be built on the Philippine shore, underscoring the potential of the country to be a landmark for maritime industry worldwide.”

The start of the year has been fruitful for the company as they delivered the 300,000 DWT VLCC to Navig8 Tankers while fabricating three more of the same vessel at the Subic shipyard. He said that two of those vessels will be delivered this year and the last will be delivered next year.

HHIC-Phil has begun its shipbuilding operations in the later part of 2007 following the completion of the construction of its Subic shipyard in the same year. It has started off with delivering a 4300 TEU containership in 2008. To date, HHIC-Phil has already delivered a total of 100 commercial ships including 57 container ships, 27 bulk carriers, 7 VLCCs, 4 LPG ships and five Marine Engineering Plants.

A Very Large Crude-Oil Carrier (VLCC) made by Hanjin seen during the sea trial

HHIC-Phil is scheduled to deliver this March three 11,000 TEU containerships and one 38K chemical carrier. HHIC-Phil is expected to deliver 14 more ships of various types before the current year-ends.

Hanjin Subic Shipyard occupies more than 300 hectares of land, with a 4km Quay Wall and two of the world’s largest docks with the size of 370m x 100m and 550m x 135m which is about seven times larger than a football stadium. It is home to more than 32,000 Filipino workers gainfully employed and is being recognized as a world-class shipyard with competitive edge. (Jonas Reyes, Manila Bulletin)

http://business.mb.com.ph/2017/03/08/hanjin-philippines-gets-order-to-make-4-vlccs-at-subic/

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Hanjin Heavy delivers first Philippine-made VLCC

Subic Bay Freeport – Hanjin Heavy Industries and Construction – Philippines (HHIC-Phils.) last week delivered the first Philippine-made Very Large Crude Carrier (VLCC) to its owner after being recognized as the country’s top sectoral exporter by the Department of Trade and Industry (DTI) last December during the National Export Congress.

Newly installed HHIC-Phil President Chung Gwang-Suk said: “We are very pleased to welcome the New Year with the successful delivery of this state-of-the-art vessel to one of our valued clients overseas. This vessel gives us enormous pride as it is the very first Philippine-made VLCC; hence, another record-setting milestone for the Philippine shipbuilding industry.”

The M/V Gener8 Hector shown during a sea trial conducted by HHIC-Phils.

“Our management wishes to share this accomplishment with all our partners and stakeholders in the shipbuilding industry as we chart our future together amid the challenges in the global economy. More than anything, we are deeply honored to have given the opportunity to showcase time and again our competitive strengths and spirits as we nourish the utmost trust and confidence invested in HHIC-Phils., Inc. not only by our shipbuilding clients around the world – but also the Philippine Government as our equal partner in this quest for business sustainability.”

Named as the M/V Gener8 Hector, the vessel sailed out the waters of the country’s premier Freeport measures 333 meters in length with breath of 60 meters and dead weight of 299,019 metric tons. It was ordered and jointly owned by Gener8 and Nagiva8 based in the United States of America and Singapore, respectively.

Beaming with pride, Chung further stated: “The vessel’s towering size is so breathtaking that it is comparable to US-made Nimitz class 100,000-ton aircraft carriers. Once commercially operated on the high seas, M/V Gener8 Hector could transport as much as 300,000 metric tons of crude oil to any part of the world, or roughly the equivalent of the entire Philippine archipelago’s 13-day fuel supply requirements in 2015. The country imported 65.14 million barrels of crude oil (8.88 million metric tons) that year.”

“While the global shipbuilding market has experienced rough sailing over the past few years, HHIC-Phils., Inc. has taken exception as it continued to maintain its foothold in the international front, capitalizing on our technological advancements and highly skilled workforce to produce cost-efficient and most modern commercial vessels that range from bulk carrier to container ship, crude oil tanker and liquefied petroleum gas carrier,” Chung added.

With HHIC-Phils., Inc.’s aggressive business presence, the Philippines marched toward the elite circle of the largest shipbuilding nations, ranking the country fifth overall as per the report of the highly respected European institution, Clarkson Research, in its August 2016 issue. As of January this year, the Subic-based shipbuilder has delivered 99 vessels and 10 steel structures with a total export value of US$5.8 billion.

Aside from the fleet of high-value vessels on order, HHIC-Phils., Inc. is currently building three 20,600 TEU container ships considered among the biggest container ships the world over. These mega gigantic box ships are due to be delivered this year.

Since its commercial operation in 2008, HHIC-Phils., Inc.’s Subic shipyard has emerged as a top employment destination especially in the countryside, providing descent jobs to more than 33,000 Filipinos and generating various livelihood opportunities for neighboring provinces in Central Luzon.

Chung mentioned “We remain steadfast as always in delivering our commitment to bring long lasting positive change in the lives of many Filipino workers when we poured in our US$2.3-billion investment in the country.” With a strong support system in place nurtured by high confidence from our partners, especially from the Philippine Government, we will double our efforts to cause more inclusive economic growth and development in line with the vision of the Duterte Administration to revive the country’s manufacturing sector in general, which proved to be a growth driver for the Philippine economy.”

The ship was delivered to its owner last week, marking the first biggest ship made by Filipino shipbuilders in the country. (Jonas Reyes, Manila Bulletin)

http://business.mb.com.ph/2017/01/17/hanjin-heavy-delivers-first-philippine-made-vlcc/

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Hanjin cited as top ship exporter in PH

Subic Bay Freeport – The Department of Trade and Industry (DTI) has awarded the country’s biggest shipbuilding firm Hanjin Heavy Industries and Construction – Philippines (HHIC-Phil) as the top exporter for the shipbuilding sector yesterday at the Philippine Trade and Training Center (PTTC) in Pasay City.

With last year’s exportation of 16 large vessels to foreign shipping lines, HHIC-Phil, bagged the Top Sectoral Exporter citation during the National Export Congress.

With the theme “Advancing SMEs through Inclusive Business: From Local to Global,” the event is aimed at promoting the business environment by assisting micro, small and medium enterprises (MSMEs), exporters, and domestic producers in enhancing their capabilities in supplying and maintaining their presence in the international market.

“We are honored to receive such an award from the DTI. We are more than proud of the craftsmanship of the Koreans and the diligence of the Filipino shipbuilders, without them, we wouldn’t have won the award,” said Hanjin President Jung Goo Heo.

He added that the company will continue to help the economic growth of the Philippines.

President Duterte graced the awarding ceremony along with Korean Ambassador to the Philippines Kim Jae Shin, DTI Secretary Ramon Lopez, DTI Undersecretary Nora Terrado, Philippine Exporters Confederation Inc. (PhilExport) President Sergio Ortiz-Luis Jr., Presidential Adviser on Entrepreneurship Jose Maria Conception III, Department of Science and Technology Secretary Fortunato Dela Peña, Department of Information and Communications Technology Secretary Rodolfo Salalima and DTI Director Senen Perlada.

The National Exporters Congress is an annual event led by the DTI, PhilExport and the Export Development Council (EDC).

The yearly celebration of the Exporters Week was made to obtain the total commitment of the government and the private sector to continuously work together to sustain export promotion and development. (Jonas Reyes, Manila Bulletin)

PHOTO:
HANJIN’S SHIPBUILDING, EXPORT MUSCLE – The LPG carrier Kaprijkie, shown at Hanjin’s shipbuilding facility in Subic Bay in 2015, is one of several ships exported by the shipbuilding giant with the help of Filipino shipbuilders and engieneers. (Jonas Reyes)

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No need to worry, Garcia assures Hanjin-Subic workers

Subic Bay Metropolitan Authority (SBMA) Chairman Roberto Garcia has assured workers of Subic shipbuilder Hanjin Heavy Industries and Construction-Philippines (HHIC-Phil) that their company is not affected by the problem besetting Hanjin Shipping Corporation.

“I think that the Hanjin workers in Subic have nothing to worry about because the financial woes affecting Hanjin Shipping has no impact on Subic,” Garcia said.

The Hanjin shipbuilding facility at the Subic Bay Freeport (AMD/MPD-SBMA)

“They can rest assured that the Hanjin company in Subic is a separate entity and the one here is very stable,” Garcia added.

The Subic official issued the statement following inquiries from workers at HHIC-Phil’s Redondo Peninsula shipyard in this free port after Hanjin Shipping Co. Ltd., reputedly the world’s seventh largest shipping line, filed for bankruptcy protection in the United States last Friday.

Accordingly, the Korean shipping line was left bankrupt when creditor-banks rejected its debt-restructuring plan. Lately, Hanjin Group, which is its parent company, has announced it will out up $90 million to bail out the shipping line.

Garcia pointed out that the shipbuilding firm Hanjin in Subic Freeport and the bankrupt company Hanjin Shipping are two separate entities.

“HHIC-Phil is not related to Hanjin Shipping, so there is no need to worry,” he said, pointing out that the Subic shipbuilder has separated from the Hanjin Group in 2005.

Earlier, HHIC-Phil Managing Director for External Trade Yoo Hoan Jo also said that the Subic shipbuilding firm remains financially healthy and stable.

“Despite what is happening in the shipping industry, orders for container ships are still coming,” Jo said in a statement. He said the new orders include three Ultra Large Container Vessels (ULCVs) that will have the capacity to carry 20,600 twenty-foot equivalent unit (TEU) containers in one hauling.

The HHIC-Phil official added that the new projects “would likely mean additional workers for the completion of these three ULCVs.”

Jo said that “the tried and tested Filipino workers at the Subic shipyard” has helped Hanjin deliver 91 vessels since it started full operation at the Redondo Peninsula in 2008.

He added that the company has delivered 16 vessels last year and has numerous orders this year, including the three ULCVs.

Jo also said that the Subic shipbuilder now has 35,000 direct and indirect employees working on various operations at HHIC-Phil’s Subic facility. (JRR/MPD-SBMA)

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Subic operations not affected by Hanjin woes

The Subic Bay Metropolitan Authority (SBMA) yesterday said that shipbuilding operations of Hanjin Heavy Industries Subic Bay Shipyard is not affected by the filing for bankruptcy of a member of the Korean conglomerate, Hanjin Group.

Trade Secretary Ramon Lopez said that after checking with the accountant of Hanjin Heavy which is registered with the Board of Investments, “there is no relationship between the two companies”. Hanjin Shipping which filed for bankruptcy is a different entity, he added.

Hanjin's shipyard at the Redondo Peninsula in Subic Bay Freeport

Hanjin Heavy separated from the Hanjin Group in 2005 and currently has no business transaction including ship building orders with the Hanjin Group.

Roberto Garcia, SBMA chairman said the ship building in Subic is owned by Hanjin Heavy Industries and Construction Co. Ltd. which provides shipbuilding, construction, and plant services in South Korea.

“There is no impact on Subic,” said Garcia in a text message.

Hanjin is the biggest employer in Subic with 28,000 workers.

Current energy secretary and former Philippine Ports Authority general manager Alfonso Cusi said that the Subic shipyard is separate from the shipping line.

Cusi in a text message also said that the bankruptcy of Hanjin Shipping won’t have much effect on the Philippine-Korea cargo traffic. He said other shipping lines will easily take the vacuum.

The Subic shipyard is the fourth largest shipyard in the world. It is the largest shipyard in the Philippines. (Malaya Business Insight)

http://www.malaya.com.ph/business-news/business/shipyard-safe

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Hanjin hiring more workers for shipbuilding projects

Hanjin Heavy Industries and Construction – Philippines (HHIC-Phil) plans to hire more Filipino workers for its shipbuilding facility here to accommodate the growing number of orders from seafaring nations.

Hanjin top officials said that by next month, it will start building three Ultra Large Container Vessels (ULCVs).

These ULCVs will have the capacity to carry 20,600 twenty-footer equivalent unit (TEU) containers in one hauling.

The ULCVs were ordered by France’s shipping conglomerate CMA CGM.

Each ship has a measurement of 400-meter in length, 59-meter in breadth and depth of 33 meters, with a deck as large as four soccer/football fields combined.

HHIC-Phil Managing Director for External Trade Yoo Hoan Jo said that the new orders would likely mean additional workers for the completion of these three ULCVs.

The company has already delivered 91 vessels since it started its operation at the Redondo Peninsula, Subic Bay Freeport in 2008, boosting the country’s export portfolio over the years.

The company has delivered 16 vessels last year and has numerous orders this year including the three ULCVs.

“The synergy between Hanjin and the Filipino worker is really a great formula not just in shipbuilding, but in nation building as well. The company believes in the craftsmanship and hard work the Filipino is known for, and will continue to utilize the Filipinos’ capabilities in shipbuilding for years to come,” Jo said.

The company recently gave back to the community by donating P5 million to help the National Anti-Poverty Commission’s (NAPC) priority projects for the marginalized Filipinos.

The turnover of the donation was done last month at the NAPC office in Diliman, Quezon City.

The donation is part of the company’s thrust to help uplift the Filipino people.

Jo personally turned over the check to NAPC Secretary and lead convenor Jose Eliseo Rocamora, following the signing of a memorandum of agreement (MOA) between the two parties.

The MOA stipulates that the P5-million donation from Hanjin would be disbursed specifically to support NAPC’s priority projects for post-Yolanda fisher folk settlement in Palawan and Sicogon. (Jonas Reyes, Manila Bulletin)

PHOTOS:

[1] HHIC-Phil shipyard at the Redondo Peninsula in Subic Bay Freeport Zone (AMD/MPD-SBMA)

[2] Made in Subic: A ship being built at HHIC-Phil's Subic shipyard. (AMD/MPD-SBMA)

[3] HIC-Phil prides itself for having a Filipino workforce highly skilled in shipbuilding. (AMD/MPD-SBMA)

http://www.mb.com.ph/hanjin-hiring-more-workers-for-shipbuilding-projects/

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