Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), which operates the world's fourth shipbuilding facility in Subic Freeport Zone, unveiled the first-ever Philippine-made Liquefied Petroleum Gas (LPG) carrier.
The ship was ordered by Belgian shipping company Exmar Shipping BVBA and was christened as “Kaprijke” by company owner Saverys family.
The vessel, which will enter the TGP-Exmar Joint Venture fleet, is part of a large ship building initiative in the Philippines. The LPG carrier measures 180 meters in length, 29.4m in breadth and 18m in depth. Construction of the LPG carrier began in June of last year.
Previously announced in December 2012, Teekay LNG and Exmar entered into an agreement to create a 50/50 joint venture operating in the LPG Carrier segment with a primary focus on Midsize Gas Carriers.
The joint venture places Teekay LNG and EXMAR at the center of the demand for LPG and Ammonia (NH3) and further reinforces Teekay’s long-standing tradition of partnership with outstanding shipping peers.
In a statement, HHIC-Phil president Jeong Sup Shim recounted the challenges the company had to go through in putting up the state-of-the-art shipyard in the country’s premier freeport.
He attributed the company’s success to the support of the Philippine government
and outstanding work ethic of Hanjin shipyard workers.
“It is our company’s earnest desire and long term commitment to catapult the Philippines as the number one shipbuilding country in the world,” Shim said.
Hanjin Subic shipyard is the 10th largest shipyard in the world in terms of order book by shipyard, accounting for 1.8m GCT or 74% of the Philippines’ CGT for new vessels.