Manila: The Philippines must develop its own steel plate manufacturing as well as other ship parts if it wants to prosper as a shipbuilding nation, a leading local yard executive has said.
“The Philippines has a great potential to grow its labour-intensive sectors but there seems to be minimal support. To begin with, the country doesn’t have much of a steel manufacturing activity to speak of,” said Tsuneishi Heavy Industries (THI) general manager Segismundo Exaltacion Jr in an interview with the Manila Bulletin.
Most of THI’s steel needs come from Japan at present, while there were no licensed engine makers in the Philippines.
“If the government could push for and effect investments in shipbuilding support industries, say steel manufacturing for example, it will attract more shipbuilders to locate here,” Exaltacion said.
Tsuneishi’s Cebu yard has plans to expand capacity as it is now delivering a record 20 ships a year through to 2016. [30/09/14]
