Korean Firm Reportedly Eyes $1B Facility

Monday, October 31, 2005
A Korean shipbuilding company is intent on investing $1-billion shipbuilding facility in Subic that is expected to transform the country’s premier Freeport into one of the world’s fourth biggest shipbuilding facility, according to a report in The Manilla Bulletin Online – www.mb.com.ph.Subic Bay Metropolitan Authority (SBMA) administrator and CEO Armand C. Arreza refused to divulge the identity of the Korean firm but said the signing of the investment agreement is expected to be done during the state visit of Korean president in December this year. The Korean firm reportedly has proposed to manufacture 8,000 TEU post Panama vessels and is expected to employ 20,000 workers. The company was also looking at putting up the facility in China and Vietnam but decided to locate in Subic because of the natural deep harbor of the Freeport. Construction of the shipbuilding facility is expected to be completed within five years. Its products are exported to 70 countries in Europe, Asia, the Americas and Africa. (Source: The Manilla Bulletin Online – www.mb.com.ph)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

World’s First LNG-Ready Ultra Large Container Ship Named

The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships.

Wärtsilä Integrated Solutions for Maersk's AHTS Vessels

A new series of six Anchor Handling Tug Supply vessels to be built at the Kleven Verft AS in Norway for the Danish based Maersk Supply Service A/S - part of the A.

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

Navy

NAVCENT Commander Recognizes Journey of Hope Sailors

Commander, U.S. Naval Forces Central Command, U.S. 5th Fleet, Combined Maritime Forces, Vice Adm. John. W. Miller, recognized the accomplishments of three special-needs sailors from the Kuwaiti ship,

Subsea Defense & the Changing Paradigm of Submarine Programs

Technology and dynamic mission profiles have driven change in the defense industry, Hydro Group Plc Managing Director Doug Whyte, explores the changing paradigm of submarine programs,

Rolls-Royce Wins US Marine Corps Contract

Rolls-Royce has been awarded a new, two-year contract to provide aftermarket engine support for the US Marine Corps and Air Force V-22 fleets, which provides

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.6226 sec (2 req/sec)