Olongapo SubicBay BatangGapo Newscenter

Friday, July 11, 2008

Hanjin Heavy bags octet worth $770m

Hanjin Heavy Industries & Construction Co, South Korea's seventh-largest shipbuilder, said Thursday that it had won orders valued at US$770 million to build eight bulk carriers.

The deals from three European shipping companies call on Hanjin Heavy Industries & Construction to deliver the 180,000-ton vessels by May, 2011, the company said.

Bocimar NV of Belgium and Lauritzen of Denmark each ordered two bulk carriers. Hanjin's Philippine yard received a contract from Yasa Shipping of Turkey for four vessels, it said.

The shipbuilder delivered the first vessel built at its new Subic yard in the Philippines last week after starting production in March last year.

Hanjin Heavy Industries & Construction's order backlog reaches $7.6 billion to build 89 ships. The Subic yard has about $3.8 billion of orders, the company said. seatradeasia-online

Labels: , , ,


  • Hello
    I know that Hanjin is making alot of money with their new ship yard, but how much is going to the people of olongapo, alot is going to korea, alot is going to the korean ship yard workers. But is it helping people there. They use subic because its cheap, much cheaper than using the big shipyards in korea, and they pay employees in won, so exchange rate doesn't bother them, they pay pinoys pesos. much cheaper for them. There is alot of native talent right there in subic and olongapo, with the former SRF workers. but that population is getting older or retired already, or have moved out of phils. some to the U.S. by way of SRF Guam. some are working abroad, dubai, and other countries that exploit the workers because they don't want to get their hands dirty. Well that is all i have, just thinking that if it is helping the people of olongapo and subic and zambales. thank you...

    By Anonymous Anonymous, at 7/11/2008 7:50 PM  

Post a Comment

<< Home


This is a joint private blog of volunteers from Subic Bay. It is being maintained primarily to collate articles that may be of importance to decision making related to the future of Subic Bay and as a source of reference material to construct the history of Subic Bay.

The articles herein posted remains the sole property of original authors and publications which has full credits to the articles.

Disclaimer: Readers should conduct their own research and due diligence before using any article herein posted for whatever intended purpose it may be. This private web log will not be liable for any loss or damage caused by a reader's reliance on information obtained from volunteers of this private blog.

www.subicbay.ph, http://olongapo-subic.com, http://sangunian.com, http://olongapo-ph.com, http://oictv.com, http://brgy-ph.com, http://subicbay-news.com, http://batanggapo.com 16 January 2012