Philippines News

15 Mar 2019

ICTSI Net Income Up 22% in 2018

Basra Gateway Terminal. Photo: ICTSI

Manila-head quartered port and terminal operator International Container Terminal Services (ICTSI) has released solid results for 2018. ICTSI’s box volumes were higher, revenues increased and the group generated higher profit.The port operator said in a stock exchange annoucement that its consolidated volume higher by six percent to 9,736,621 twenty-foot equivalent units (TEUs) (FY2017: 9,153,458 TEUs) and revenue from port operations increased 11 percent to US$1.4 billion (FY2017…

15 Mar 2019

Austal Delivers Catamaran to BraveLine

Hull 680 in front of the new 120 metre assembly bay at Austal Philippines shipyard in Balamban, Cebu (Image: Austal)

Austal Limited's Philippines shipyard delivered a 50-mcatamaran to Taiwanese Brave Line in what is the company’s first commercial contract in the East Asian country.The catamaran is the first of two 550 passenger Austal-designed vessels being constructed at the company’s Philippines shipyard in Balamban, Cebu. The contract was awarded to Austal by Taiwan’s Brave Line in September 2017. The vessels include an optimized hull form for improved fuel efficiency and passenger comfort.Austal…

11 Mar 2019

ReCAAP Asia Piracy, Sea Robbery Report

File Image: EU NavFor

Piracy and Sea Robbery Situation in Asia in February 2019A total of three incidents of armed robbery against ships were reported in Asia in February 2019There was no report of abduction of crew in the Sulu-Celebes Seas and waters off Eastern SabahThere was no report of hijacking of ships for theft of oil cargoHowever, the abduction of crew for ransom in the Sulu-Celebes Seas and waters off Eastern Sabah remains a serious concernOf the three incidents reported in February 2019, one incident occurred on board ship anchored at Caofeidian anchorage in China, one incident on board ship anchored at

07 Mar 2019

World Bank Targets Offshore Wind Markets

Image: Orsted

The World Bank Group announced a new program to advance the adoption of offshore wind energy in developing countries and emerging markets.The World Bank and  International Finance Corporation (IFC) will help these markets evaluate their offshore wind potential and provide technical assistance to develop a growing pipeline of projects that are ready for investment by renewable energy developers, said a release from the  international financial institution.The offshore wind industry has grown nearly five-fold since 2011…

04 Mar 2019

Phillipines Looks to Attract Shipbuilding

Image: Maritime Industry Authority

The Philippines maritime regulator Maritime Industry Authority (Marina) said it wants to attract private organizations to continue engaging in shipbuilding and repair by developing a scheme of tax incentives.Marina also said that the incentives program is crafted for domestic shipping to enhance the investment climate in the Philippines and attract more private-sector participation in the maritime industry.“Marina has committed to formulate an attractive financing scheme and to review existing incentive programs for the players in the domestic shipping and shipbuilding industries.

25 Feb 2019

Marina Urges RoRos to Service 'Missionary Routes'

Image: Maritime Industry Authority

Philippines' Maritime Industry Authority (Marina) is encouraging shipping companies to deploy ships to missionary routes to enhance the connectivity of the country’s islands.Marina opened new roll-on/roll-off (RoRo) missionary routes for application by shipping operators, in line with its initiative to modernize domestic shipping in support of the development of a national nautical highway system in the Philippines.“The Marina declared 19 missionary routes on 31 January 2019 to…

19 Feb 2019

Algoma Conveyor Heading for Canada

Image: Algoma Central Corporation

The provider of marine transportation services Algoma Central Corporation announced that the recently completed Algoma Conveyor, the third Seawaymax Equinox Class 740’ self-unloading dry-bulk carrier, has begun its delivery voyage from China to Canada.The vessel began its two month journey home, departing the Yangzijiang shipyard on February 16, 2019.After taking fuel in the Philippines the vessel will cross the Pacific Ocean, travelling through the Panama Canal and from there will make its way to Canada.

17 Feb 2019

Philippine Lenders Saves South Korea's Hanjin

Image: HHIC PHIL

The troubled South Korean shipbuilder Hanjin Heavy Industries & Construction Co said that it has reached an agreement with Philippine banks on debt-rescheduling for its Philippine affiliate HHIC-Phil, Southeast Asia’s largest shipyard by area size.Philippine creditors agreed to acquire shares of Hanjin Heavy, HHIC-Phil Inc., which operates the yard in Subic Bay, in return for solving surely obligations. This means the scheme includes a debt-for-equity swap with Philippine lenders, it added.Hanjin said the deal would be submitted to a Philippine court by the end of this month.

17 Feb 2019

Epic Gas Bullish on LPG Carriers Market

Pic: Epic Gas

Global seaborne liquefied petroleum gas (LPG) volume is expected to grow by over 6% in 2019 and surpass 100 million tonnes for the first time.Singapore based provider of pressurised LPG vessels, Epic Gas said that it is well positioned to benefit from the improving fundamentals of the LPG shipping market.For the fourth quarter of 2018, freight levels for most sizes in the pressurised sector were similar to the stronger levels seen in the third quarter. Rates for the 3,500cbm, 5…

14 Feb 2019

ICTSI Expands Batumi Container Terminal

During the ribbon cutting ceremony marking the formal inauguration of BICT’s multifaceted expansion program. Photo: ICTSI

Philippines-based port operator International Container Terminal Services, Inc. (ICTSI) has inaugurated the newly-expanded Batumi International Container Terminal (BICT) in Georgia.The expansion encompasses both the waterside and landside areas of the multipurpose terminal, intended to optimize the processing of existing cargo flows and install additional capacity to accommodate new business.Marking the importance of the occasion, the inauguration was attended by Giorgi Kobulia…

10 Feb 2019

IMO Counter-Terrorism Workshop

Pic:  International Maritime Organization (IMO)

International Maritime Organization (IMO) maritime security and counter-terrorism treaties are key international instruments supporting countries to counter terrorism.The UN body said that to boost implementation of these treaties in South and South-East Asia, IMO and the United Nations Office on Drugs and Crime (UNODC) conducted a cross-regional workshop in Bali, Indonesia (5-8-February).The workshop was addressing the need to ratify the relevant international counter-terrorism…

31 Jan 2019

LGP-Fuelled ME-LGIP to Power Chinese VLGC

Rendering of the MAN B&W ME-LGIP engine, showing here a 6S50ME-LGIP type  (Photo: MAN Energy Solutions)

Further shipowners turning to LGP in advance of 2020 emissions deadlineJiangnan Shipyard, owned by China State Shipbuilding Corp (CSSC), has ordered an LPG-burning MAN B&W 6G60ME-LGIP engine in connection with the building of an 86,000-m3 VLGC (Very Large Gas Carrier) for Tianjin Southwest Maritime (TSM), the Chinese shipping company. Vessel delivery is scheduled for the second half of 2021 and includes an option for a second vessel.Bjarne Foldager – Senior Vice President, Head of Two-Stroke Business at MAN Energy Solutions – said: “With 2020 and the new IMO emissions fast approaching…

29 Jan 2019

Making a Difference: Interferry acts on industry’s major issues

Mike Corrigan is CEO of Interferry, the trade association that represents the worldwide ferry industry.

Interferry CEO Mike Corrigan reflects on the global trade association’s hectic year of involvement in three key areas of concern.Readers with long memories will have a strong sense of déjà vu when I say that safety, security and the environment are at the forefront of Interferry’s networking and lobbying mission right now. I highlighted the very same issues in this column last January, so let me explain why I’m not entirely repeating myself.It’s a fact of life that a lot can happen in a short space of time.

24 Jan 2019

Svitzer Appoints Jeeninga, McKeating as Cluster Managers

Fred Jeeninga, Cluster Managing Director, Continental Europe (Photo: Svitzer)

Svitzer, aprovider of harbor and terminal towage to the global shipping industry, has recently appointed Fred Jeeninga as Cluster Managing Director, Continental Europe (Netherlands, Belgium, Georgia) and Maurice McKeating as Cluster Managing Director, UK South.Fred Jeeninga holds nearly 20 years of experience from the marine service industry. His work has taken him to Russia, Germany, Denmark, Brazil, and the Caribbean. He has been with Svitzer since 2009, most recently as Operations…

20 Jan 2019

BPER Banca Finances Augustea Navigation

Pina Cafiero, a vessel owned by Augustea Group

Italian banking group BPER Banca is financing up to USD 8 million to Augustea Navigation to refinance its acquisition of a bulk carrier built in 2010 under an Italian flag. Watson Farley & Williams (WFW) has advised on the deal.A press release from the  international law firm based in London said that BPER Banca, formerly known as Banca Popolare dell’Emilia Romagna S.C., is a commercial and co-operative bank and the parent of the BPER Group, one of Italy’s leading banking groups.

17 Jan 2019

Shipbuilding: Fitch Warns Over Hanjin Shipyard's Debt

Image: Hanjin Heavy Industries and Construction Co. Philippines

The exposure of five Philippine banks to financially distressed Hanjin Heavy Industries and Construction Co. Philippines (HHIC-Phil), which recently declared bankruptcy after it defaulted on over $400 million in loans, could put pressure on their credit ratings.Their exposure to what may well be the largest corporate default in Philippine banking history may put pressure on the credit ratings of local lenders, Fitch Ratings said.According to reports, Hanjin owes $412 million to Philippine banks. Another $900 million is owed to Korean banks.

14 Jan 2019

MICT Gets Eco-Friendly RTGs

Arrival of the four hybrid RTGs at MICT’s Berth 5. Photo: International Container Terminal Services, Inc.

International Container Terminal Services, Inc.'s (ICTSI) flagship Manila International Container Terminal (MICT) has received four of 16 new hybrid rubber-tired gantries (RTG) as part of the Company’s long-term investment in capacity enhancement and environmental efficiency."A first in Philippines and Manufactured by Mitsui Engineering & Shipbuilding Co. Ltd. (MES) of Japan, the Mitsui Li-ion Hybrid RTG is equipped with a 200kVA Li-ion battery and a smaller diesel engine that dramatically improves the carbon footprint of the terminal…

14 Jan 2019

Chinese Eye Philippines Hanjin Shipyard

Image:  Hanjin Heavy Industries and Construction

Two Chinese shipbuilding companies have expressed intent to invest in the largest Philippine shipyard, debt-riddled Hanjin Heavy Industries and Construction Philippines, the Department of Trade Industry (DTI) said.Drowning in debt,  the Philippine business of the Hanjin Group of South Korea, has asked the government for help in search of an investor who would take over the business and save the troubled shipbuilder.Philippines Rodrigo Duterte administration has stepped in to help save the troubled investor in Subic.According to local media reports…

11 Jan 2019

Phoenix Petroleum to Build Philippines First LNG Terminal

Pic: Phoenix Petroleum

Philippines fuel retailing firm Phoenix Petroleum said it won government approval to build the country’s first liquefied natural gas (LNG) import terminal in partnership with China National Offshore Oil Corp (CNOOC).The Department of Energy (DOE) has granted notice to proceed (NTP) to their joint venture firm Tanglawan Philippines LNG Inc. to build an LNG terminal in Batangas.Phoenix Petroleum said in a stock exchange annoucement that it plans to break ground on the facility within the year.

04 Jan 2019

Small LNG Projects Crucial for Market: Drewry

Graph: Drewry Maritime Research

Low prices, abundant supply and an aggressive shift towards cleaner gas for energy generation are creating strong demand for LNG, not just from large buyers, but also from small importers, said Drewry.In its market opinion report, Shefali Shokeen, Senior Research Analyst, Drewry Maritime Research said that small-scale LNG projects (production and regasification capacity of less than 500,000 tonnes per annum) have reduced capex and are suitable for countries with low LNG consumption.For example Gibraltar has set up a small LNG import terminal with a total storage capacity of 5…

04 Jan 2019

EWC Gets Philippines LNG Hub Permit

Image: EWC

Australia’s Energy World Corp(EWC) said it has received a permit from the Philippines' department of energy (DoE) to construct an LNG hub at Pagbilao Grande island in Quezon province.The energy company, which produces and sells power and natural gas primarily in the Asia Pacific region, said in a stock exchange annoucement that DoE Secretary Alfonso G. Cusi on behalf of the department had issued Energy World Gas Operations Philippines, Inc. a permit to construct, own and operate…

18 Dec 2018

French Frigate Shoals: A Canary in the Coal Mine

© cartoonresource/Adobe Stock

French Frigate Shoals are located in the northwestern Hawaiian Islands, between Kauai and Midway. The atoll consists of a twenty-mile long crescent-shaped reef, with 13 coral and sand islands and the 120-foot high volcanic rock Perouse Pinnacle, named for French explorer Jean-Francois de la Perouse, who charted the atoll in 1786 and nearly grounded his two frigates. Tern Island is the largest, covering 105,276 square meters or 26 acres. Second largest is (or was) East Island, with 35…

11 Dec 2018

APL, Cheng Lie Navigation to Merge Intra-Asia Service

Image: Cheng Lie Navigation

The container transportation and shipping company American President Lines Ltd (APL) announced the proposed acquisition of the book of business of its sister company Cheng Lie Navigation (CNC), Taiwan's Intra-Asia carrier.With this, APL will consolidate all its Intra-Asia business under the CNC brand to be operated from Singapore, retaining both sales networks and all sales channels.“This strategic move will enable us to become the Intra-Asia Champion with the most comprehensive market connectivity in the Far East.

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