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18 January 2017

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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