Subic Hanjin gets $4.8-B ship contracts

Around 56 ships worth $4.8 billion in total has been ordered to Hanjin Heavy Industries and Construction – Philippines (HHIC-Phil) that will be built inside its Subic shipyard in Redondo Peninsula.

Hanjin General Manager for External Business Tae Kyun Yoo said most of the 56 vessels will be bulk carriers as most of the shipping companies ordered 36 of them while the remaining 20 vessels are composed of 14 container ships and six tankers.

He added that seven of the bulk carriers will be 175,000 deadweight tons (DWT) in capacity, 18 are 180,000 dwt in capacity, 11 are 205,000 dwt.

He also said that four of the container vessels have a capacity of 3,600 twenty foot equivalent unit (TEU) while two have a capacity of 3,800 teu and eight containers vessels are 12,800 teu.

The shipyard is also building two 320,000 dwt crude oil tankers (COT) and four 160,000 dwt cot vessels, making the shipyard fully booked until 2016.

Hanjin sales would be around $935 million for this year and would be exceeded next year with an estimate of $1.28 billion, Yoo said.

By JONAS REYES - mb.com.ph