Hanjin Subic Shipyard (Port)

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Hanjin shipyard can become a major global port

The 300-hectare shipyard of Hanjin Philippines may be taken over by several shipping companies that would transform it into a major global port, Trade Secretary Ramon Lopez said in a chance interview recently. He said the shipyard could be a sprawling multipurpose mixed-use port facility that would be jointly operated by several players. This, he said, is one of the proposals received by Hanjin creditors for the development of the shipyard after Hanjin Philippines declared bankruptcy early this year. “It’s a good masterplan that has been proposed and it is targeted to be implemented this year,” Lopez said. He declined to name the companies but hinted that these include foreign players. Another source said creditors are in negotiations with an American and a Japanese company. Officially, Hanjin has fully shut down just this month, ending the last of its remaining maintenance operations, sources said. As of this writing, the creditors have not made any official announcement yet regarding the final plans for the shipyard.

Cape pair contract worth $110M for Hanjin’s Subic facility

Hanjin Heavy Industries & Construction has won a contract to build two bulkers worth around $110m from an unspecified Marshall Islands-based shipowner. The 180,000 dwt ships are due for delivery in the final quarter of 2015 and are set to be built at hanjin’s Philippine yard at Subic Bay. The Subic facility has taken a raft of orders this year, predominantly containerships, and slots for 2015 are fast running out. [25/10/13]

Hanjin’s Subic yard nearly doubles annual order target

Manila: A research note out from Korea’s Kiwoom Securities shows what a hugely successful year Hanjin Heavy Industries & Construction’s Philippine subsidiary has had. "Hanjin's Subic Shipyard is expected to accomplish over 180% of its annual order aim with a possibility of winning $2.2bn contracts by the end of this year," the report noted. The giant Subic yard has inked 37 orders this year, a mix of larger bulkers and mid- to large-sized containerships, ensuring it is busy for at least the next three years. [28/10/13]