Filipino shipowners and operators in the domestic trade have been urged to order ships with local shipbuilders for the modernisation of their coastal fleet.
“It is now time to build locally using our own resources as we continue to build our capacity for technology and experience,” Sammuel Lim, chairman of Philippine Register of Shipping (PRS) said in a release.
Lim’s call for support among owners is not exclusive to merchant shipowners and operators, but also government ship operators.
According to Lim, there have been quite a number of newbuilding projects in the past that had been undertaken by Filipino local shipyards but the propensities of major operators to buy secondhand ships abroad over the past few years had deprived Filipino shipbuilders of business opportunities.
Lim praised local banks like the Philippine Business Bank for supporting the industrialisation of the Philippines through financing shipbuilding projects.
Philippine Register of Shipping, the country’s first and largest classification society, has recently embarked on a rebranding while expanding its service to support its aim of safer shipping and increase its client base in the growing domestic fleet.