Hanjin Subic Shipyard

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Hanjin Subic Shipyard
Hanjin Subic Shipyard panoramio 114271925.jpg
Built2006 (2006)
Operated2006 –
LocationSubic Freeport Zone, Subic, Zambales, Philippines
Coordinates14°49′01.4″N 120°12′20.2″E / 14.817056°N 120.205611°E / 14.817056; 120.205611Coordinates: 14°49′01.4″N 120°12′20.2″E / 14.817056°N 120.205611°E / 14.817056; 120.205611
IndustryShipbuilding
ProductsShips
Employees300 (2020)

The Hanjin Subic Shipyard is a shipyard in Subic, Zambales, Philippines owned by Hanjin Heavy Industries and Construction Philippines. It is located along the coastline of the Redondo Peninsula in Sitio Agusuhin.[1][2]

History[]

The Subic Shipyard was built by Hanjin Heavy Industries and Construction Philippines (HHIC–Phil), a subsidiary of the South Korean firm Hanjin Heavy Industries. HHIC–Phil received its first order to build a ship at the Subic Shipyard in 2006.[3] Construction of the shipyard began in early 2006[4] and its facilities were complete by 2009.[3] The first ship built at the Subic Freeport Zone, the MV Argolikos, was inaugurated at the Hanji Subic Shipyard in July 2008, in a ceremony attended by then President Gloria Macapagal Arroyo. The ship was also the Philippine-made container ship.[5][6]

By 2015, the Hanjin Subic Shipyard became one of the top ten top 10 shipbuilders in the world in terms of orderbook.[3] At one point, the Philippines is the fifth largest shipbuilding nation in the world, largely owing to the output of the Subic shipyard.[7] At its peak in 2016, the shipyard employed 35,000 people.[8]

Riddled with debt, HHIC–Phil filed for voluntary rehabilitation under Republic Act 10142, otherwise known as "An Act Providing for the Rehabilitation or Liquidation of Financially Distressed Enterprises and Individuals" on January 8, 2019 and laid off 10,000 of its employees retaining only 300 employees in the shipyard by January 2020.[7][8]

Australian shipbuilder Austal and US-based Cerberus Capital Management has considered launching a joint bid to takeover the Subic shipyard.[9] The Philippine Navy has also considered converting the shipyard into a submarine base.[10]

Facilities[]

A 20.766 TEU container ship (CMA CGM Louis Bleriot) and oil tanker (Levantine Sea) being constructed at Dry Dock no. 6

The Hanjin Subic Shipyard covers an area of 300 hectares (740 acres) within the Subic Freeport Zone. As of 2015, it has a 500 m × 135 m (1,640 ft × 443 ft) dock, gantry cranes and an automated assembly lines with 600,000 deadweight tonnage (DWT) of annual shipbuilding capacity.[3]

References[]

  1. ^ Bayarong, Anthony (March 25, 2006). "Hanjin builds $1-B Subic shipyard". Manila Times. Retrieved May 26, 2021.
  2. ^ "Hanjin Shipyard Subic". JSLA Architects – Architectural Design Firm.
  3. ^ a b c d Remo, Amy R. (January 6, 2015). "Hanjin books $5B in sales in 5 years". Philippine Daily Inquirer. Retrieved May 26, 2021.
  4. ^ Empeño, Henry (December 10, 2008). "Hanjin launches 2 more container ships in Subic". ABS-CBN News. Retrieved May 26, 2021.
  5. ^ Sapnu, Ric (July 4, 2008). "GMA leads launch of first Subic-made container ship". The Philippine Star. Retrieved May 26, 2021.
  6. ^ "First RP-built cargo ship inaugurated in Subic Bay". ABS-CBN News. July 4, 2008. Retrieved May 26, 2021.
  7. ^ a b Empeño, Henry (January 19, 2020). "Hanjin, A Year After". BusinessMirror. Retrieved May 26, 2021.
  8. ^ a b Venzon, Cliff (January 31, 2019). "Hanjin shipyard bankruptcy poses dilemma for Duterte". Nikkei Asia. Retrieved May 26, 2021.
  9. ^ "Austal, Cerberus team up to eye Hanjin's Philippine shipyard". Reuters. October 9, 2019. Retrieved May 26, 2021.
  10. ^ Nepomuceno, Priam. "PH Navy eyes Hanjin's Subic shipyard as submarine base". Philippine News Agency. Retrieved May 26, 2021.
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