Home » Maritime » Montenegro Shipping buying 8 ro-ro vessels for P1 billion

ROLL on-roll off operator Montenegro Shipping Lines (MSL) is acquiring eight additional vessels worth about P1 billion in its bid to service more routes.

“Some vessels will be deployed in Pioduran and Esperanza in Region 5 (and some)… in our other service areas such as Southern Leyte-Surigao and Batangas,” MSL general manager Vicente Montenegro, Jr said.

Each of the vessels, mostly from Japan, can carry at least eight buses and 500 passengers.

The company is looking at loans from the Maritime Leasing Corp (MLC) of the Development Bank of the Philippines, United Coconut Planters Bank and Banco de Oro to finance the acquisition.

MLC earlier signed a P152-million lease-to-own transaction with MSL covering the purchase of a medium-sized ro-ro vessel for deployment in a missionary route.

The ro-ro operator is asking government to come up with a program to rationalize the deployment of ro-ro vessels. It said some routes are overcrowded resulting in cutthroat competition.

MSL has a 43 ro-ro vessels, seven fastcrafts and 45 air-conditioned buses.

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