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    The Hanjin shipyard at Subic’s Redondo Peninsula is expected to become a busier facility following the completion of the M/V Argolikos, the first ship made in the Subic Bay Freeport Zone. --HENRY EMPEÑO

     
    Hanjin-Subic braces for new orders
     
    By Henry Empeño
    Correspondent

    SUBIC BAY FREEPORT—After the M/V Argolikos, the first ship ever to be made here by Hanjin Heavy Industries Corp., the Korean shipbuilder is set to build 35 more vessels including eight post-Panamax carriers in the next three years.

    According to Subic Bay Metropolitan Authority Chairman Feliciano Salonga, Hanjin Heavy is set to deliver this year another vessel to Dioryx Maritime Corp., the Greek shipping firm that ordered the Argolikos. This time it would be a ship with 43,000-twenty foot equivalent unit (TEU) capacity.

    Dioryx is scheduled to buy four more vessels by the second quarter of 2009, he said.

    As of February, Hanjin Heavy’s order book “shows that at least 36 ships, consisting of container vessels, tankers and bulk carriers, are calendared for delivery between this year and 2011,” Salonga added.

    Salonga made the announcement as Hanjin Heavy readies Argolikos for its sea trial on May 27, or one year, one month and one week after steel-cutting was done for the first Subic-made vessel.

    Pyeong Jong Yu, manager of Hanjin Heavy’s Outside Business Department, which also handles the company’s corporate communications, said the firm had secured certifications for Argolikos, including an attestation from Bureau Veritas, a Paris-based conformity assessment, certification and inspection and testing firm.

    Yu said the Argolikos already has a cargo ship safety equipment certificate, a complete crew list and a certificate of competency of the Korean crew from the Busan (Korea) Regional Maritime Affairs and Fisheries Office.

    The delivery of Argolikos next month, however, meant only more work for Hanjin Heavy, which has reportedly received orders for 12 vessels of 4,300 TEUs even before its groundbreaking here in May 2006.

    In an earlier statement, the company said it has signed a $2.2-billion order for some of the biggest box ships and Capesize carriers ever to be built. These include eight 12,800-TEU container carriers worth $1.27 billion for Germany’s NSC Schiffartsgeselhaft; 10 carriers of 3,600 TEUs worth $690 million for France’s CMA CGM; and three 175,000-DWT (deadweight ton) Capsize bulkers worth $240 million, with two going to India’s Adani Group, and the other to Turkey’s Eregli firm.

    The 12,800-TEU carriers for NSC, each 365.6 meters in length, 48.4 meters in breadth and 29.8 meters in depth, would be among the biggest in the industry, Hanjin added.

    Hanjin Heavy is successful in getting orders for large-sized vessels because of its aggressive marketing strategies and recognition by ship owners of the firm’s shipbuilding technologies, as well as the capacity of its Subic shipyard, company officials said.

    The firm, officials added, will undertake a second phase of development for its Subic facilities in the second half of 2008 that would enable the Philippine unit to compete with Korea’s three other major shipbuilders—Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering.

    The expansion would involve the development of Dock No. 6, which on blueprint was 480 meters long, 135 meters wide and 13.5 meters deep. The construction of a bigger assembly line and a 1.7-kilometer quay wall, and the installation of two more units of ultra-huge gantry cranes would also be part of the expansion and development plans.

    This would increase Hanjin Heavy’s shipbuilding capacity in Subic to 450,000 tons a year from 220,000 tons, and enable it to build 33 vessels annually from today’s capacity of 16 ships.

    Hanjin Heavy officials also said that with the Subic expansion program, the company would not only “increase the scale of production, but also diversify vessel types from high-profit vessels to high-value, or ultra-large, vessels.”

    Hanjin, which is investing $1.6 billion in its Subic shipyard, was established in 1937 as the first shipbuilding company in Korea. Starting with a 5,000-TEU container ship in 1992, the company said it had since built the “world’s best vessels” for 16 consecutive years.

    Last year, its Cosco New York, a 5,100-TEU Panamax container, was voted as “ship of the year” by the world’s top three shipping journals—The Marine Reporter, Marine Log and Naval Architect—based on technology, design and performance standards.

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