10 Januari 2015

[100115.EN.SEA] Hanjin to Maintain Shipbuilding Lead With Help From Subic Yard

WITH Chinese shipyards snapping at the heels of Korean shipbuilders, Hanjin Heavy Industries (HHI) is trying hard to retain its leadership by reviving the shipyard in Subic Bay.

Since running at full capacity in 2009, the Philippines yard 110 kilometres northwest of Manila, has won orders continuously.

"Although the figures are not compiled yet, the 2014 sales revenue of the Subic Shipyard is estimated at more than US$1 billion," said an HHI official. "Following 2013, last year will see profit of about KRW30 billion (US$27.2 million)."

Eleven times larger than Hanjin's Yeongdo dockyard, its operating profit has also been solidly in the black for five consecutive years, according to the Korea Economic Times.

Said HHI Philippines chief Ahn Jin-gyu: "We can build 10,000-TEU containerships at Subic, which is unimaginable in Yeongdo. Thanks to this large capacity, we have been able to sign deals to build five 11,000-TEU containerships."

The shipyard will soon build a very large crude carrier of about 300,000 tonnes, he said.

"We have an order backlog of 39 ships, equivalent to three years of work, at the shipyard. We will hire 2,000 additional workers this year." Currently, the shipyard employs 25,000," Mr Ahn said.

Source : HKSG.

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