July 25th, 20191The Nikkei Asian Review is reporting Australian shipbuilder Austal and US private equity firm Cereus Capital Management have entered exclusive talks to take over one of the world’s largest shipyards. The pair are submitting a bid to buy Hanjin Heavy Industries & Construction’s bust yard in Subic Bay in the north of the...
May 23rd, 20190Japanese shipyard giant Tsuneishi’s long-held plans to develop a ship recycling site in the Philippines have been put on hold, with local politicians on the island of Negros in the middle of the archipelago unable to get the necessary clearance for the facility. Tsuneishi, which has a shipbuilding yard on the neighbouring island of...
May 23rd, 20190Justin Trudeau has moved to end a long simmering diplomatic spat with the Philippines. Canada’s environment minister, Catherine McKenna, said yesterday that Canadian trash that has been rotting in the Philippines for nearly six years will be back on Canadian soil before the end of June. Ottawa has awarded a contract to Bolloré...
May 8th, 20190Two of the largest names in Philippine shipping have merged. Alphaliner reports that 2GO Group has undergone an internal restructuring where it has merged via a share swap with its ex-majority shareholder, Negros Navigation Co (NENACO), that previously held a 88.31% share of the listed company. 2GO has now taken control of all of...
April 9th, 20194The Philippines, the world’s dominant source of seafarers this century, is coming under severe pressure with the number of deployed crew dropping drastically last year and a host of top managers warning today that the country’s manning preeminence is under threat. Data from the Philippine Overseas Employment Administration (POEA)...
March 19th, 20190The Philippines’ largest terminal operator has outlined how it might transform the country’s biggest shipyard. International Container Terminal Services, Inc (ICTSI) is interested in taking over the bust assets of Hanjin Heavy Industries and Construction Philippines’ (HHIC-Philippines) to turn it into a multipurpose facility and...
March 13th, 20190Ambrey Risk is reporting that the Eastern Sabah Security Command has issued a warning stating that a group from Islamic State-aligned Abu Sayyaf have departed Jolo Island in the south of the Philippines bound for Tawi-Tawi, with the intention of kidnapping high-value targets along Sabah's eastern coast. A curfew has been extended...
February 27th, 20190As Manila faces up to its worst port congestion crisis since the crippling box crunch of 2014, stakeholders including terminal operators and the Bureau of Customs have proposed to put up shared depots for empty containers outside the capital. The concerned parties have asked the Philippine Economic Zone Authority to allot space for...
February 20th, 20190A familiar problem has hit the port of Manila again; congestion brought around by too many empty containers lying around the cramped facilities in the Philippine capital. Asian Terminals Inc (ATI), one of two port operators at the port, has tapped six liners to help alleviate the crunch at Manila South Harbor. ATI has said it is...
February 15th, 20190Troubled Hanjin Heavy Industries & Construction (HHIC) from South Korea has reached an agreement on debt rescheduling for its Philippine affiliate, HHIC-Phil, Southeast Asia’s largest shipyard by area size. The debt rescheduling scheme, which includes a debt-for-equity swap with Philippine lenders, will be submitted to a court...
