Hanjin clinches orders for at least 9 ships
SOUTH Korean shipbuilder Hanjin Heavy Industries and Construction Corp. has received orders for at least nine container ships which would be built in the company's shipyard in Subic.
These orders, worth about $950 million, came only about a month after the Hanjin's Subic facility opened.
According to one of the firm's clients, NSC Schifffahrtsgesellschaft mbH und Cie KG of Germany, its order of four vessels worth $650 million would be delivered starting 2010.
Danaos Corp. of Greece, which ordered five vessels at a cost "within the region of $300 million," said it was expecting its ships to be delivered between November 2009 and June of 2010.
Further, Korean media quoted a Hanjin spokesperson as saying that the company won contracts worth $2.2 billion covering 21 container and bulk ships for delivery within two and a half years.
These orders came from clients in France, Turkey and India, and all of the ships geared to these markets will be built in Subic.
In a statement, German shipping fund specialist Lloyds Fond AG--which is handling NSC's order--said the deal was signed last week for four 12,825-TEU (twenty-foot equivalent unit) ships with an option for an additional four of the same.
These 365.6-meter long 48.4-meter wide vessels, which can accommodate up to 1,000 containers have been designed to fit the Panama Canal after its planned enlargement.
This is the second batch of order from Hamburg-based NSC, whose first order covers six 4,300-TEU ships that are already queued in one of the Subic shipyard's production line.
In a separate statement, Athens-based Danaos announced it had signed up for five 3,400-TEU vessels, which was also an additional batch of order for five ships from Hanjin.
"Danaos will take delivery of these vessels at a time when building berths for large containerships around the world are becoming increasingly hard to find," the firm said in a statement. "We have also arranged for 10-year charters for all of these vessels at accretive rates with a major liner company."
The vessels would be powered by Korean-built electronic engines providing improved efficiency, lower emissions and with a design speed of 23 knots, it added.
HHIC-Philippines Inc. switched on the still plate cutting machine in Subic last April 19, signaling the start of production at the Redondo Peninsula.
HHIC-PI built the shipyard complex on a 480-hectare land in the peninsula with a committed investment of $1 billion. The project is expected to create job opportunities for some 30,000 direct and indirect employees.
The switch-on happened in less than 14 months after signing the memorandum of agreement for the construction of the shipyard.
Some 4,000 people have already been employed during the pre-operation and construction phase.
According to the Department of Trade and Industry, the facility is expected to bring in up to $3.5 billion worth of investments in export industries.
By Ronnel Domingo - Inquirer
These orders, worth about $950 million, came only about a month after the Hanjin's Subic facility opened.
According to one of the firm's clients, NSC Schifffahrtsgesellschaft mbH und Cie KG of Germany, its order of four vessels worth $650 million would be delivered starting 2010.
Danaos Corp. of Greece, which ordered five vessels at a cost "within the region of $300 million," said it was expecting its ships to be delivered between November 2009 and June of 2010.
Further, Korean media quoted a Hanjin spokesperson as saying that the company won contracts worth $2.2 billion covering 21 container and bulk ships for delivery within two and a half years.
These orders came from clients in France, Turkey and India, and all of the ships geared to these markets will be built in Subic.
In a statement, German shipping fund specialist Lloyds Fond AG--which is handling NSC's order--said the deal was signed last week for four 12,825-TEU (twenty-foot equivalent unit) ships with an option for an additional four of the same.
These 365.6-meter long 48.4-meter wide vessels, which can accommodate up to 1,000 containers have been designed to fit the Panama Canal after its planned enlargement.
This is the second batch of order from Hamburg-based NSC, whose first order covers six 4,300-TEU ships that are already queued in one of the Subic shipyard's production line.
In a separate statement, Athens-based Danaos announced it had signed up for five 3,400-TEU vessels, which was also an additional batch of order for five ships from Hanjin.
"Danaos will take delivery of these vessels at a time when building berths for large containerships around the world are becoming increasingly hard to find," the firm said in a statement. "We have also arranged for 10-year charters for all of these vessels at accretive rates with a major liner company."
The vessels would be powered by Korean-built electronic engines providing improved efficiency, lower emissions and with a design speed of 23 knots, it added.
HHIC-Philippines Inc. switched on the still plate cutting machine in Subic last April 19, signaling the start of production at the Redondo Peninsula.
HHIC-PI built the shipyard complex on a 480-hectare land in the peninsula with a committed investment of $1 billion. The project is expected to create job opportunities for some 30,000 direct and indirect employees.
The switch-on happened in less than 14 months after signing the memorandum of agreement for the construction of the shipyard.
Some 4,000 people have already been employed during the pre-operation and construction phase.
According to the Department of Trade and Industry, the facility is expected to bring in up to $3.5 billion worth of investments in export industries.
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