MANILA, Philippines - Montenegro Shipping Lines, Inc. (MSLI) has recently acquired a second-hand roll-on roll-off (Ro-Ro) vessel from South Korea for P86 million under a lease agreement with the DBP Leasing Corp. (DLC).
DLC vice president for leasing and corporate services Ricardo Romero and DLC vice president for shipping operations Ronilo Bacolod turned over the MV Maria Lolita to MSLI after completing the five-year lease contract.
MV Maria Lolita is one of the four Ro-Ro vessels acquired by MSLI under the DLC lease financing scheme.
The three other second-hand Ro-Ro vessels are MV Maria Natasha which sails between Batangas City and Calapan City; MV Maria Oliva, plying the Roxas, Mindoro-Catiklan, Aklan route and the MV Reina Divina Gracia plying the Lucena City-Balanacan, Marinduque route.
Montenegro Lines, which operates 31 ships, have been serving the Filipinos for almost three decades with four vessels transporting goods from one island to another.
Meanwhile, with the expansion of scope of its leasing activities, DLC has recently approved the lease application for a second-hand container by Meridian Cargo Forwarders, Inc. (MCFI).
The three-year lease contract has a total project cost of P151 million.
MV Rachel has a maximum capacity of 256 units of 20-foot containers and would be deployed in the developmental route between Manila and Puerto Princesa in Palawan. (EHL)
The Philippines on Sunday called on neighbouring Southeast Asian nations to push for an immediate halt to China's reclamation in the disputed South China Sea ahead of a regional summit. China claims 90 percent of the South China Sea, which is believed to be rich in oil and gas, with overlapping claims from Brunei, Malaysia, the Philippines, Vietnam and Taiwan. Recent satellite images suggest China has made rapid progress in building an airstrip suitable for military use in contested …