Jose Rizal News

The latest Philippine Navy frigate built by South Korea's Hyundai Heavy Industries (HHI), BRP Jose Rizal, departed for the Philippines carrying masks and other quarantine supplies.The 2,600-ton frigate, with maximum speed of 25 knots, features the Philippine Navy’s first operation of guided missiles and torpedoes.The new ship set sail to Subic port in the Philippines following a sail-off ceremony held by HHI on Monday. The builder said the delivery comes four months ahead of the…

According to reports, the Philippine government has revived plans to dispose its interest in the shipping and transport arm of Philippine National Oil Co. (PNOC) as part of aggressive privatization efforts. The government is inviting prospective financial advisors to submit their offers for the sale of PNOC Shipping and Transport Corp. (PSTC). Interested bidders have until Dec. 12 to submit their offers. The financial advisor will be tasked to advise, guide, and assist in the design, planning, preparation, and implementation of the program for the privatization of the wholly-owned subsidiary of PNOC. Bidders should have Philippine and Asian experience as financial advisors to governments on privatization and knowledge in the shipping and maritime sector.