Hanjin to build world’s biggest container ship in Subic

Hanjin to build world’s biggest container ship in Subic
Wednesday, February 24, 2010
Written by Henry Empeño / Correspondent

SUBIC BAY FREE PORT—Following the completion here of APL Bahrain, a 259.8-meter-long container ship which is said to be the biggest vessel to be built in the country, shipbuilder Hanjin Heavy Industries Corp. Philippines Inc. (HHICP) announced it will next build the biggest container ship in the world.

Hanjin officials announced the firm’s next big project during the visit of President Arroyo at the Hanjin shipyard last week.

“We will [soon start] fabricating the biggest container ship in the world,” said Jeong Sup Shim, whom Mrs. Arroyo acknowledged as the founding president of HHIC Philippines.

The ship will be finished by late next year or early 2012, Shim said during an impromptu press briefing upon Mrs. Arroyo’s arrival at the Hanjin shipyard in Subic’s Redondo peninsula.

Hanjin officials announced earlier that the company—now the fourth-biggest shipbuilder in the world—will soon start the construction of ultralarge oil tankers and Capesize-type bulk carriers.

Recently, the firm signed a contract with Taiwanese shipping firm Hsin Chien Marine Co. Ltd. for two 180,000-ton Capesize bulk-carrier vessels, Hanjin’s first orders here in the ultralarge-vessel market.

Hanjin will deliver the first Capesize vessel by September next year.

In January the Korean shipbuilder also delivered to the Kaptanoglu Shipping Lines, a Turkish company, the 114,000-deadweight-ton MT Leyla K, the first oil tanker to be built in this free port.

Hanjin officials said the completion last year of the company’s facilities-expansion program at its $1.7-billion Subic shipyard would allow it to build Capesize vessels and catch up with Korean rivals like Hyundai Heavy Industries, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering.

According to the Subic Bay Metropolitan Authority, which signed in Hanjin as a Subic-registered investor in 2005, the Korean shipbuilder has lined up for fabrication here some 36 vessels, with delivery schedules before the end of 2012.

After constructing its shipyard at the Redondo peninsula in 2006 and 2007, the firm delivered in 2008 the first Subic-made container ship, MV Argolikos, which was delivered to the Greek shipping company Dioryx.

By the end of 2009, Hanjin already finished constructing eight container ships here.

With these projects, Subic Bay Metropolitan Authority Chairman Feliciano Salonga said Hanjin has put the Subic Bay Free Port on the maritime map.