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Subic Bay News

10 Mar 2022

Cerberus to Buy Philippine Shipyard at Ex US Navy Base

Photo: schlawginski (CC BY-SA 3.0)

U.S. private equity firm Cerberus will acquire for $300 million a debt-laden shipyard in the Philippines at a former U.S. navy base close to the South China Sea, the facility's trustee and two sources with knowledge of the deal said on Tuesday.The fate of the strategically located Subic Bay shipyard has been a national security concern for defense chiefs, with fears it could be taken over by state-run firms from China, with which the Philippines has a long history of mistrust.In 2019…

28 Feb 2022

WinGD Expands Global Training Network

(Photo: WinGD)

Swiss based marine engine technology developer WinGD has expanded its global training network through a partnership with DCS POWER PTE LTD in Singapore to deliver training for optimizing engine performance and preparing crews for the fuels of the future.Located in Singapore, the new training partnership was commemorated on February 22. Preparing crews for the new future-fuel ready vessels will be delivered through a variety of both virtual and classroom-based training courses.

28 Jul 2021

Philippine Creditors Set to Sell Debt-laden Shipyard

Credit: HHIC Phil (File Photo)

Philippine creditors are close to selling a strategically located but debt-laden shipyard north of the capital Manila, government officials said on Tuesday, with a North American company cited as being an investor in the deal.Hanjin Philippines, a unit of South Korea's Hanjin Heavy Industries & Construction Co Ltd, in 2019 defaulted on $1.3 billion in loans, of which $900 million is owed to South Korean banks and the rest to five Philippine lenders.Talks with investors were almost complete…

15 Jul 2021

Danaos Buys Six Secondhand Containerships

Danaos Corporation on Wednesday announced it has entered into an agreement to acquire six secondhand 5,466 TEU container vessels en bloc for $260 million.The vessels, which have an average age of 6.8 years, were built at Hanjin Subic Bay shipyard and are on time charter contracts with a weighted average charter duration of approximately two years.The acquired vessels, which are expected to be gradually delivered to the company by the end of the third quarter of 2021, are eco-design wide beam vessels with improved fuel consumption and load efficiency characteristics when compared to conventional designs, the company said.The acquisition…

08 Oct 2020

Loss of Towline Shackle Pin Led to 2019 Tug Sinking -NTSB

Mangilao (Photo: Cabras Marine Corporation / NTSB)

The loss of a towline shackle pin and deteriorated watertight fittings caused a towing vessel to sink in the Pacific Ocean about 800 miles northwest of Guam, the National Transportation Safety Board revealed in a Marine Accident Brief on Thursday.The 114-foot-long U.S.-flagged tugboat Mangilao sank on August 5, 2019 while being towed to a drydock in Subic Bay, Philippines by the 97-foot U.S.-flagged tug Chamorro. Both vessels were owned and operated by Cabras Marine Corporation.

09 Oct 2019

Austal, Cerberus Mull JV on Hanjin's Philippine Yard

AdobeStock / © Bernell11

Australian shipbuilder Austal Ltd and U.S. private equity firm are considering a joint bid for a strategically located but debt-laden Philippine shipyard, the facility's trustee said on Wednesday.Hanjin Philippines, a unit of South Korea's Hanjin Heavy Industries & Construction Co Ltd, in January defaulted on $1.3 billion in loans, of which $900 million is owed to South Korean banks and the rest to five Philippine lenders.Austal and Cerberus are interested in the distressed shipyard…

27 Jun 2019

ICTSI Manila Yard Utilization Falls Again

The global port management company International Container Terminal Services Inc.(ICTSI) said yard utilization at its Manila port dropped 58 percent in June despite a series of holiday periods and low trucking activity.The Manila International Container Terminal (MICT), ICTSI flagship, recorded the drop in utilization rates despite recording its all-time highest throughput over a four-month period.Philippines-headquartered port and terminal operator said that this follows the 70 percent utilization rate recorded in April, down 20 percent from 90 percent in January after private sector partners and  the government signed a manifesto last March calling for the efficient utilization of container terminals.

26 Apr 2019

Philippines Shipyard Sale Open to All

All offers from potential buyers of a strategically located but debt-laden Philippine shipyard will be welcome, the trade minister said on Thursday, ruling out barring Chinese firms over national security fears.Trade Secretary Ramon Lopez said the government would not, and could not, block interested buyers of distressed shipbuilder Hanjin Philippines, which defaulted on $1.3 billion in loans, of which $900 million is owed to South Korean banks and the rest to five Philippine lenders.Hanjin, a unit of South Korea's Hanjin Heavy Industries & Construction Co Ltd, until recently employed 20,000 workers at its yard in Subic Bay, which until 1992 was home to a U.S.

17 Feb 2019

Philippine Lenders Saves South Korea's Hanjin

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. HHIC-Phil, a debt-stricken shipyard in Subic, has applied for a rehabilitation program.Nikkei quoted HHIC saying that Rizal Commercial Banking Corporation…

14 Jan 2019

Chinese Eye Philippines Hanjin Shipyard

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, which quoted Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo, two Chinese firms contacted the Board.“They’re interested in the shipbuilding industry in general ...

17 Sep 2018

Wärtsilä Wins First ‘LPG as Fuel’ Order for New Gas Carriers

Exmar’s new very large gas carriers will feature Wärtsilä technology that enables them to operate on LPG fuel. (Photo: Exmar)

Wärtsilä will provide an integrated cargo handling and fuel gas system for two new liquefied petroleum gas (LPG) carriers for Belgium-based owner Exmar. The 80,000m³ very large gas carriers are being built at HHIC-Philippines (Hanjin Heavy Industries & Construction Philippines) in Subic Bay, and will be the first vessels capable of running on LPG, according to Wärtsilä, who secured the order in July 2018.Wärtsilä, which offers ‘LPG as fuel’ as a fully integrated part of the cargo handling system…

09 Sep 2018

CMA CGM Inaugurates Antoine de Saint Exupery

French shipping group CMA CGM inaugurated its new flagship vessel 20,600 TEU-containership CMA CGM Antoine De Saint Exupery in Le Havre, France.Two French ministers, Bruno Lemaire (Economy) and Elisabeth Borne (Transport) were present for the event.Delivered last January 26 by Philippine shipyard Hanjin Heavy Industries & Construction Philippines of Subic Bay, the vessel is one of the largest container ships in the world. At 400-meters long by 59-meter wide, the vessel has the capacity to carry 20,600 twenty-foot containers.CMA CGM Antoine De Saint Exupery is equipped with environmental technologies such as a Becker Twisted Fin, which helps reduce in CO2 emissions by as much as 4%…

28 Aug 2018

Finland: A Hot-Bed of ICEBREAKER Technology

In 2016 the most recent Finnish icebreaker, Ib Polaris, was built at a cost of EUR123m. Arctia Ltd. received an LNG fueled double-acting PC4 class icebreaker capable of penetrating 1.8m thick level ice with a speed of 3.5 knots. Photo: Tuomas Romu and Arctia Ltd.

Finland is a traditional marine tech hub, with almost 90 company members in the Finnish Maritime Industries association. While the country has a storied maritime history across many sectors, based on geographic locale, it’s Arctic and ice marine technology is second to none, and it’s hoping the U.S. Coast Guard is taking notice.The Finnish maritime industry is hoping to get involved in developing the new icebreakers for the U.S. Coast Guard polar icebreaker program. Ulla Lainio…

02 Mar 2018

EXMAR’s New VLGCs to Run on LPG

Two very large gas carrier (VLGC) newbuildings being constructed for Belgian owner EXMAR will be equipped with main engines that will use liquefied petroleum gas (LPG) as fuel.   Both vessels will be constructed by Hanjin Heavy Industries & Construction at its Subic Bay shipyard in the Philippines for delivery within the third quarter of 2020.   The MAN Diesel & Turbo engines will use part of the onboard LPG cargo for the vessels’ propulsion.   EXMAR has contracted the vessels to serve long-term commitments with Statoil ASA of Norway for worldwide LPG transportation.

13 Dec 2017

Photos: USS John S McCain Arrives in Yokosuka for Repair

USS John S. McCain is lowered into the water from the heavy lift transport ship MV Treasure prior to being towed into port. The ship will undergo repairs at Ship Repair Facility - Japan Regional Maintenance Center in Yokosuka. (U. S. Navy photo by Joshua B. Mortensen)

U.S. warship USS John S. McCain, which was involved in a collision with a cargo ship east of the Straits of Malacca and Singapore in August, has arrived at Fleet Activities Yokosuka for repair. The Arleigh Burke-class guided missile destroyer DDG 56 arrived in Tokyo Bay aboard heavy lift transport vessel MV Treasure on December 5, and arrived at Fleet Activities Yokosuka on December 13 following several days of preparations. The vessel will be repaired by U.S. Naval Ship Repair Facility-Japan Regional Maintenance Center in Yokosuka before returning to service in U.S. 7th Fleet.

28 Nov 2017

USS John S. McCain Heads to Yokosuka for Repair

The Arleigh Burke-class guided missile destroyer USS John S. McCain (DDG 56) departs Subic Bay, Philippines aboard heavy lift transport vessel MV Treasure, November 28. Treasure will transport McCain to Fleet Activities Yokosuka to undergo repairs. (U.S. Navy photo by Aaron Van Driessche)

U.S. warship USS John S. McCain, which was involved in a collision with the merchant vessel east of the Straits of Malacca and Singapore in August, has departed Subic Bay, Philippines aboard heavy lift transport vessel MV Treasure en route to Fleet Activities Yokosuka for reapir. The Arleigh Burke-class guided missile destroyer USS John S. McCain (DDG 56) was diverted to Subic Bay October 22, due to poor weather conditions and to repair cracks in the ship's hull discovered after the ship departed Singapore aboard MV Treasure, the Navy said.

19 Oct 2017

Smooth Sailing in the Philippines

The recent visit to the Philippines, by two Australian Navy ships of the Indo-Pacific Task Group has significantly reinforced the strong defence relationship between Australia and the archipelago. Led by HMAS Adelaide in company with HMAS Darwin, both ships were welcomed to the Port of Manila by the Philippines Navy for a full day of engagements including the visit by the Philippine President Rodrigo Duterte and Australian Chief of the Defence Force, Air Chief Marshal Mark Binskin. The Task Group later sailed to Subic Bay for a four-day visit, where both ships received over several hundred visitors eager to view the new capabilities the Australian Defence Force had on offer.

09 Oct 2017

APL Pioneers 100 Years of Shipping in the Philippines

In celebration of its 100th anniversary in the Philippines, APL today renewed its commitment to keep pioneering shipping solutions for the development of the Philippines’ shipping industry. Part of APL’s plan is to identify local partnerships to extend its reach to more outports in the Philippines, facilitate trading by opening new service routes and keep engaging industry stakeholders for the development of the sector. APL Chief Executive Officer, Nicolas Sartini said, “APL has laid a firm foundation in the Philippines since we established our presence here in 1917. Now, we are a leading ocean carrier in the market because of the trust of our customers and the reliable service that we deliver.

11 Jul 2017

ICTSI Subic on Growth Path

International Container Terminal Services, Inc.’s (ICTSI) new Container Freight Station (CFS) at the Subic Bay Freeport is at the forefront of ensuring the faster movement of goods in the Northern and Central Luzon markets. The two regions continue to grow, driven by industrial centers like Subic, Clark, Bataan, and Tarlac. Launched last year, the CFS is one of Subic Bay International Corp.’s (SBITC) value-added services. The CFS, envisioned to serve as a regional distribution center (RDC), makes the more efficient movement of goods possible because of its quicker clearing periods compared to other RDCs. It saves time, cuts costs, thereby helping improve margins for companies doing business with other countries.

13 Mar 2017

Japan Plans to Send Largest Warship to South China Sea

Japan plans to dispatch its largest warship on a three-month tour through the South China Sea beginning in May, three sources said, in its biggest show of naval force in the region since World War Two. China claims almost all the disputed waters and its growing military presence has fueled concern in Japan and the West, with the United States holding regular air and naval patrols to ensure freedom of navigation. The Izumo helicopter carrier, commissioned only two years ago, will make stops in Singapore, Indonesia, the Philippines and Sri Lanka before joining the Malabar joint naval exercise with Indian and U.S. naval vessels in the Indian Ocean in July. It will return to Japan in August, the sources said.

20 Dec 2016

U.S. Acknowledges Drone Return, Warns China

The United States said on Tuesday it had received an underwater drone "unlawfully seized" by a Chinese vessel last week and called on China to refrain from further efforts to impede its lawful activities in the South China Sea. China had earlier announced it had returned the drone after "friendly" talks between the two countries. The USS Mustin received the vehicle for the United States in international waters approximately 50 nautical miles northwest of Subic Bay in the Philippines, near where it was taken, Pentagon press secretary Peter Cook said in a statement.   Reporting by Lincoln Feast

17 Dec 2016

China to Return Seized US Underwater Drone

USNS Bowditch (Photo: U.S. Navy)

China's Defense Ministry said on Saturday it plans to return an underwater U.S. drone seized this week by a Chinese naval vessel in the South China Sea, but complained the United States was "hyping up" the incident. The drone was taken on Thursday, the first seizure of its kind in recent memory. It prompted the Pentagon to go public with a diplomatic complaint, and drew criticism from U.S. President-elect Donald Trump, who has vowed to take a more aggressive approach in dealing with Beijing.

16 Dec 2016

China Seizes US Underwater Drone in South China Sea

A Chinese warship has seized an underwater drone deployed by a U.S. oceanographic vessel in the South China Sea, triggering a formal diplomatic protest and a demand for its return, U.S. officials told Reuters on Friday. The drone was taken on Dec. 15, the first seizure of its kind in recent memory, about 50 nautical miles northwest of Subic Bay off the Philippines just as the USNS Bowditch was about to retrieve the unmanned underwater vehicle (UUV), officials said. "The UUV was lawfully conducting a military survey in the waters of the South China Sea," one official said, speaking on condition of anonymity. "It's a sovereign immune vessel, clearly marked in English not to be removed from the water - that it was U.S. property," the official said.