Hanjin Subic Shipyard Delivers 2 Bulk Carriers To UK Company

SUBIC BAY FREEPORT ZONE - South Korean shipbuilder Hanjin Heavy Industries & Construction - Philippines (HHIC-Phil Inc.) welcomed the New Year with yet another milestone when it unveiled simultaneously two newly-built DWT 205,000 Bulk Carriers in its 300-hectare state-of-the-art shipyard facility recently.

The vessels, purchased by England-based Rio Tinto Shipping Limited, were named M/V "RTM Cabot" and M/V "RTM Drake", respectively. The ships, named after two renowned British explorers, will have London in the United Kingdom as their homeport.

The event was attended by HHIC-Phil senior officials led by President Jin Kyu Ahn, Rio Tinto top executives and representatives from classification society Lloyd Register.

Since 2008, HHIC-Phil has successfully delivered to various clients abroad a total of 48 vessels with an estimated value of US$2.9 Billion, thereby boosting the Philippines' export portfolio.

Last year, Hanjin delivered four vessels to Rio Tinto, including "RTM Dampier" and "RTM Zheng He", which was named after a British explorer and a Chinese navigator respectively, the M/V RTM Cartier, named after a French explorer , and the M/V Cook, a 204,000 deadweight metric tons bulk carrier.

The M/V "RTM Cabot" and M/V "RTM Drake are the latest addition to the vessels delivered to shipping magnate Rio Tinto.

But despite these succeses, the shipbuilding industry is already bracing itself for a very challenging year this 2013 as "The world shipbuilding market is really depressed since last year and this has already created cut-throat competition among shipbuilders", according to HHIC-Phil managing director for External Trade Team Taek Kyun Yoo.

Yoo said that " The European-debt crisis and the slowing down of the world economy continue to plague the global shipbuilding industry, which is still reeling the ill effects of a very low shipbuilding demands last year due to fewer maritime activities. Many pundits believe that these economic uncertainties may result to huge drop in sales for new commercial vessels this year, as many international shipping companies still remain conservative on business expansion, and incessantly look for modern and highly cost-efficient vessels to revitalize their fleet just to keep their business afloat amid the looming crisis. "

He said that " due to Hanjin's vast experience and high-technology, the Philippines currently ranked 4th among the largest shipbuilding countries in the world as per the Maritime Industry Authority (MARINA). The country's unprecedented leap from a virtual unknown nation in building massive ship is also widely credited to Hanjin shipyard's 19,000 highly skilled and in-house trained local workers.


Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Pacquiao pleads for Indonesia to spare death row Filipina
    Pacquiao pleads for Indonesia to spare death row Filipina

    World boxing superstar Manny Pacquiao took time out Monday from final preparations for his $400 million megafight with Floyd Mayweather to plead for the life of a Filipina on death row in Indonesia. Pacquiao, a national hero in the Philippines, added his voice to a chorus of global opposition led by United Nations Secretary General Ban Ki-moon to the executions of a group of eight foreign drug convicts, including compatriot Mary Jane Veloso. The eight-division world champion, who will face …

  • Halt Indonesia drug executions until graft claims probed: Australia
    Halt Indonesia drug executions until graft claims probed: Australia

    Australia urged Indonesia Monday to delay the execution of two men for drug offences until a corruption probe into their case is complete, after a report that judges sought tens of thousands of dollars in bribes. "Bali Nine" drug traffickers Myuran Sukumaran and Andrew Chan could face the firing squad within days, along with others from Brazil, Nigeria, the Philippines and an Indonesian prisoner. The Indonesian attorney-general's office said the executions would take place this week but did …

  • FordPH Launches the All-New Mustang
    FordPH Launches the All-New Mustang

    Ford Philippines launched the all-new Mustang in a rock concert held at Bonifacio Global City, Taguig, last week .  The All-New Mustang is the sixth generation since Ford  launched the first model in April 17, 1964. “The all-new Mustang represents the very best of Ford and its arrival marks the latest chapter of the iconic muscle car’s rich legacy, crafted with a more contemporary look and feel.  With a history spanning more than 50 years, this iconic car is at the heart and soul of Ford and …

  • China maritime tensions dominate Southeast Asia summit
    China maritime tensions dominate Southeast Asia summit

    By Manuel Mogato and Praveen Menon KUALA LUMPUR (Reuters) - Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines drew the ire of Beijing which called its objections to the work "unreasonable". The Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, which was supposed to showcase the 10-member bloc's progress towards economic integration, was overshadowed by the …

  • The ‘All You Need’ 2015 Isuzu D-MAX launched
    The ‘All You Need’ 2015 Isuzu D-MAX launched

    Isuzu Philippines Corporation (IPC) just recently introduced the 2015 Isuzu D-MAX pick-up truck at the Clark International Raceway to show that their pick-up model can conquer any kind of terrain.The high-end LS variant and standard LT 4x4 is now equipped with a more powerful engine, the 4JK1-TC (Hi) 2.5-liter engine which with Common Rail Direct Injection and an intercooled Variable Geometry System (VGS) turbocharger. IPC also introduced a new standard ride variant, the LT-X 4x2 manual …

  • Limited Edition Honda CR-V and Jazz now available
    Limited Edition Honda CR-V and Jazz now available

    If you’ve always wanted to be part of an exclusive group of car owners, now might be the time for you to consider getting a Honda CR-V or Jazz.  Honda Cars Philippines Inc. (HCPI) just came out with their limited edition All New Jazz and New CR-V. …

  • ToyotaPH hit its highest monthly sales last March
    ToyotaPH hit its highest monthly sales last March

    Toyota Motors Philippines hit its highest monthly sales to date last March, registering 10,237 units sold.  This recent CAMPI report puts Toyota’s market share at 43.5% last month. …

  • VolkswagenPH launches Child Safety Initiative
    VolkswagenPH launches Child Safety Initiative

    Volkswagen Philippines just  launched the VW Child Safety Initiative (CSI) campaign which aims to support child safety on Philippine roads at the just concluded Manila International Auto Show (MIAS). The World Health Organization’s road safety facts show about 1.24 million die each year globally as a result of vehicle related accidents. Child restraint systems like child seats and booster seats also reduce risk for children by about 70% for infants and upto 80% for small children. This …


Should Aquino be held accountable over the Mamasapano operations?

Poll Choice Options