Subic Freeport seen as shipbuilding hub
SUBIC FREEPORT is seen becoming the country's shipbuilding center as the freeport authority and the government's investment arm are planning to put up a facility that would serve domestic shipping operators' vessel requirements.
The Subic Bay Metropolitan Authority (SBMA) said it was working with National Development Co. subsidiary National Maritime Leasing Corp. on a project that would form part of the government's domestic shipping development plan.
SBMA Chairman Feliciano G. Salonga said the planned shipbuilding center would also be a part of the envisioned Subic Bay Maritime Industrial Park.
The project is expected to complement the $1-billion shipyard that South Korea's Hanjin Heavy Industries and Construction Corp. is putting up in the freeport.
Salonga said NMLC would provide assistance to local shipping operators in acquiring affordable but more efficient cargo and passenger ships.
For its part, SBMA would take part in the domestic shipping plan by developing a property with an area of at least 50 hectares for the ship building facility and by offering an affordable rental scheme to lower the cost of shipbuilding.
Salonga said SBMA was also banking on its existing operational integrated logistic facilities and systems--such as storage, loading and unloading, packaging, processing and information and transportation--to help shipbuilders lower their costs.
The agency would offer to investors incentives such as tax- and duty-free importation of capital goods plus a 5-percent corporate tax on gross income, unrestricted entry of foreign investments, no foreign exchange control, and income tax holiday.
NMLC said it was taking up the project with the SBMA due to the pressing need to build about 18 new tankers by next year for the use of local shipping operators through the so-called lease-to-own scheme.
NMLC was created as a leasing company to implement the Arroyo administration's Strong Republic Nautical Highway project through the acquisition of modern roll-in roll-out (Ro-Ro) vessels to be leased to qualified operators under lease purchase agreements.
A study of the Japan International Cooperation Agency showed that the Philippines had been using mainly second-hand and aging vessels, majority of which came from Japan .
The study found that the industry uses a total of 1,502 vessels including 28 container ships, 854 general cargo, 266 passenger/cargo, 149 Ro-Ro vessels and 205 tankers--all of which needed to be replaced since they were already very old at 20-30 years.
Also, the study concluded that the industry needed an additional 635 ships between 2007 and 2015.
By Ronnel Domingo - Inquirer
The Subic Bay Metropolitan Authority (SBMA) said it was working with National Development Co. subsidiary National Maritime Leasing Corp. on a project that would form part of the government's domestic shipping development plan.
SBMA Chairman Feliciano G. Salonga said the planned shipbuilding center would also be a part of the envisioned Subic Bay Maritime Industrial Park.
The project is expected to complement the $1-billion shipyard that South Korea's Hanjin Heavy Industries and Construction Corp. is putting up in the freeport.
Salonga said NMLC would provide assistance to local shipping operators in acquiring affordable but more efficient cargo and passenger ships.
For its part, SBMA would take part in the domestic shipping plan by developing a property with an area of at least 50 hectares for the ship building facility and by offering an affordable rental scheme to lower the cost of shipbuilding.
Salonga said SBMA was also banking on its existing operational integrated logistic facilities and systems--such as storage, loading and unloading, packaging, processing and information and transportation--to help shipbuilders lower their costs.
The agency would offer to investors incentives such as tax- and duty-free importation of capital goods plus a 5-percent corporate tax on gross income, unrestricted entry of foreign investments, no foreign exchange control, and income tax holiday.
NMLC said it was taking up the project with the SBMA due to the pressing need to build about 18 new tankers by next year for the use of local shipping operators through the so-called lease-to-own scheme.
NMLC was created as a leasing company to implement the Arroyo administration's Strong Republic Nautical Highway project through the acquisition of modern roll-in roll-out (Ro-Ro) vessels to be leased to qualified operators under lease purchase agreements.
A study of the Japan International Cooperation Agency showed that the Philippines had been using mainly second-hand and aging vessels, majority of which came from Japan .
The study found that the industry uses a total of 1,502 vessels including 28 container ships, 854 general cargo, 266 passenger/cargo, 149 Ro-Ro vessels and 205 tankers--all of which needed to be replaced since they were already very old at 20-30 years.
Also, the study concluded that the industry needed an additional 635 ships between 2007 and 2015.
By Ronnel Domingo - Inquirer
posted by OlongapoCity Zambales at
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