National Maritime Leasing Corp News

Cebu's shipbuilding industry has attracted two Singaporean firms which are planning to invest about $400 million in the fast-growing industry, a Maritime Industry Authority (Marina) official said. Marina Administrator Vicente Suazo said he will facilitate the meetings between the Singaporean investors and the National Maritime Leasing Corp. (NMLC) and the Philippine Import-Export Credit Agency (Philexim). Suazo declined to name the two Singaporean firms, but said one firm, will invest $300m and the other $100m. He said he recently went to Singapore to conduct a campaign to attract foreign investments in the country's shipping industry.

According to reports, a modern domestic shipbuilding facility will soon rise in this premier Freeport zone. Subic Bay Metropolitan Authority chairman Feliciano Salonga, in a meeting with National Maritime Leasing Corp. president Agustin Bengzon, said the facility would create a synergy aimed at supplying the needs of the domestic shipping industry. Salonga said the partnership and mutual cooperation of SBMA and National Maritime Leasing, a subsidiary of National Development Co., would focus on the acquisition of affordable but more efficient cargo and passenger ships by local shipping operators. Shipbuilding has been included in the government’s Investment Priority Plan.