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Hanjin orders for 2012 hit $4.9B

Hanjin Heavy Industries and Construction-Philippines (HHIC-P) has booked $4.9 billion in new ship orders for 2012.

According to the Subic Bay Metropolitan Authority (SBMA), HHIC-P is earmarking $1 billion for construction in additional areas as well as expanding its Subic yard, north of Manila, to handle another 600,000 deadweight tons this year.

At the moment, the Subic yard has an annual building capacity of 10 ships. It is “equipped with high-technology shipbuilding facilities that include megadocks and goliath cranes in order to build high-technology, high-added value ships,” SBMA chair and administrator Roberto Garcia said.

“By developing an exclusive steel shelter for dock operations to cover the working area during rainy season, Subic shipyard maximizes facility efficiency and has remarkably reduced the time needed for shipbuilding.”

HHIC-P is capable of building containerized cargo carriers of up to 12,800 twenty-equivalent units as well as tankers and bulk carriers of equal size.

Pending for delivery by 2016 are 56 ships.

The company is targeting to become a major shipbuilding base for Q-Max liquefied natural gas carriers; floating production, storage and offloading units; and offshore and offshore plants.

Since 2009, HHIC-P has delivered 24 ships with an estimated cost of $1 billion. Last year, it was the country’s top exporter with receipts of $725 million, and top third importer buying goods worth $381.383 million.

Earlier, HHIC-P reserved an additional 150 hectares of land for expansion of its Subic yard, geared toward servicing the Malampaya natural gas project.

Of the 150 hectares, 100 hectares — under Phase 1-2 of shipyard development—will be dedicated for dry-dock 6 and the remaining 50 hectares for fabrication of materials for the Malampaya platform.


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