Subscribe to our Mailing Lists (It's free!)
Saturday, February 4, 2023
SAFETY4SEA
  • Home
  • Safety
    • All
    • Accidents
    • Alerts
    • Loss Prevention
    • Maritime Health
    • Regulation
    • Safety
    • Seafarers
    • Security
    fire cruise ship sydney

    Fire onboard cruise ship in Sydney harbour

    barge sinks goa india

    Barge sinks at at anchorage in Goa, India

    uscg towing vessels

    USCG: Cancelation of Certificate of Inspection Phase-In Period policy letter

    fishing vessels safety

    Recommendations for USCG to improve fishing vessels safety

  • SEAFiT
    • All
    • Intellectual
    • Mental
    • Physical
    • Social
    • Spiritual
    How are you making decisions? The 6 human needs

    How are you making decisions? The 6 human needs

    how to fall asleep

    6 tips to help you fall asleep when you wake up at night

    psychotherapy

    Working in business? How psychotherapy can be a life-changing experience

    sexual health

    Sexual health important to overall wellbeing: Key considerations

  • Green
    • All
    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
    • Pollution
    • Ship Recycling
    • Technology
    gtt onboard co2 carbon capture

    GTT receives €4.66M for onboard CO2 capture system

    Hydrogen Carrier Powering Fuels Cells

    EU funds project using green hydrogen from liquid organic hydrogen carriers

    offshore wind carbon trust

    Offshore wind developers partner with Carbon Trust to decarbonize industry

    equinor engie hydrogen

    Equinor, Engie move forward with hydrogen project in Belgium

  • Smart
    • All
    • Connectivity
    • Cyber Security
    • E-navigation
    • Energy Efficiency
    • Maritime Software
    • Smart
    maersk ashdod port

    Maersk, Ashdod Port Company partner to drive logistics and supply chain innovation

    klaveness autonomous hull cleaning

    Klaveness: Roll-out of semi-autonomous hull cleaning solution

    mol Vessel Cyber Resilience

    MOL: World’s first company to receive AiP for vessel cyber resilience

    ukho paper chart

    UKHO: Paper chart withdrawal extended beyond 2026

  • Risk
    • All
    • CIC
    • Detentions
    • Fines
    • PSC Focus
    • Vetting
    philippines 18 detained fuel theft

    Philippines: 18 from 3 ships detained for fuel theft

    black sea mou cic stcw

    Black Sea MoU: Preliminary results of CIC on STCW

    Keppel Offshore fines

    Keppel Offshore & Marine pays $65m in fines after corruption case

    fmc delay and disruption claims

    FMC: Increase in “Delay and Disruption” claims

  • Others
    • All
    • Diversity in shipping
    • Maritime Knowledge
    • Offshore
    • Ports
    • Reports
    • Shipping
    • Sustainability
    • Videos
    world cancer day

    World Cancer Day 2023: Time to close the care gap

    rotterdam shortsea terminals

    Watch: Rotterdam Short Sea Terminals aspires to be the best shortsea terminal in Europe

    panama canal draft adjustment

    Panama Canal: Draft adjustment for Neopanamax locks

    whales fatalities offshore wind

    NOIA: No connection between whale deaths and offshore wind

  • Columns
    Maritime Just Transition Task Force: Engaging industry in social dialogue

    Maritime Just Transition Task Force: Engaging industry in social dialogue

    Career Paths: David Tournay, Maritime Skills Alliance

    Career Paths: Sinikka Hartonen, One Sea Association

    Career Paths: David Tournay, Maritime Skills Alliance

    Career Paths: David Tournay, Maritime Skills Alliance

    Trending Tags

    • Career Paths
    • Industry Voices
    • Maripedia
    • Maritime History
    • Resilience
    • Seafarers Stories
    • SeaSense
  • Events
  • Plus
No Result
View All Result
  • Home
  • Safety
    • All
    • Accidents
    • Alerts
    • Loss Prevention
    • Maritime Health
    • Regulation
    • Safety
    • Seafarers
    • Security
    fire cruise ship sydney

    Fire onboard cruise ship in Sydney harbour

    barge sinks goa india

    Barge sinks at at anchorage in Goa, India

    uscg towing vessels

    USCG: Cancelation of Certificate of Inspection Phase-In Period policy letter

    fishing vessels safety

    Recommendations for USCG to improve fishing vessels safety

  • SEAFiT
    • All
    • Intellectual
    • Mental
    • Physical
    • Social
    • Spiritual
    How are you making decisions? The 6 human needs

    How are you making decisions? The 6 human needs

    how to fall asleep

    6 tips to help you fall asleep when you wake up at night

    psychotherapy

    Working in business? How psychotherapy can be a life-changing experience

    sexual health

    Sexual health important to overall wellbeing: Key considerations

  • Green
    • All
    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
    • Pollution
    • Ship Recycling
    • Technology
    gtt onboard co2 carbon capture

    GTT receives €4.66M for onboard CO2 capture system

    Hydrogen Carrier Powering Fuels Cells

    EU funds project using green hydrogen from liquid organic hydrogen carriers

    offshore wind carbon trust

    Offshore wind developers partner with Carbon Trust to decarbonize industry

    equinor engie hydrogen

    Equinor, Engie move forward with hydrogen project in Belgium

  • Smart
    • All
    • Connectivity
    • Cyber Security
    • E-navigation
    • Energy Efficiency
    • Maritime Software
    • Smart
    maersk ashdod port

    Maersk, Ashdod Port Company partner to drive logistics and supply chain innovation

    klaveness autonomous hull cleaning

    Klaveness: Roll-out of semi-autonomous hull cleaning solution

    mol Vessel Cyber Resilience

    MOL: World’s first company to receive AiP for vessel cyber resilience

    ukho paper chart

    UKHO: Paper chart withdrawal extended beyond 2026

  • Risk
    • All
    • CIC
    • Detentions
    • Fines
    • PSC Focus
    • Vetting
    philippines 18 detained fuel theft

    Philippines: 18 from 3 ships detained for fuel theft

    black sea mou cic stcw

    Black Sea MoU: Preliminary results of CIC on STCW

    Keppel Offshore fines

    Keppel Offshore & Marine pays $65m in fines after corruption case

    fmc delay and disruption claims

    FMC: Increase in “Delay and Disruption” claims

  • Others
    • All
    • Diversity in shipping
    • Maritime Knowledge
    • Offshore
    • Ports
    • Reports
    • Shipping
    • Sustainability
    • Videos
    world cancer day

    World Cancer Day 2023: Time to close the care gap

    rotterdam shortsea terminals

    Watch: Rotterdam Short Sea Terminals aspires to be the best shortsea terminal in Europe

    panama canal draft adjustment

    Panama Canal: Draft adjustment for Neopanamax locks

    whales fatalities offshore wind

    NOIA: No connection between whale deaths and offshore wind

  • Columns
    Maritime Just Transition Task Force: Engaging industry in social dialogue

    Maritime Just Transition Task Force: Engaging industry in social dialogue

    Career Paths: David Tournay, Maritime Skills Alliance

    Career Paths: Sinikka Hartonen, One Sea Association

    Career Paths: David Tournay, Maritime Skills Alliance

    Career Paths: David Tournay, Maritime Skills Alliance

    Trending Tags

    • Career Paths
    • Industry Voices
    • Maripedia
    • Maritime History
    • Resilience
    • Seafarers Stories
    • SeaSense
  • Events
  • Plus
No Result
View All Result
SAFETY4SEA

Philippines open to HHIC-Phil shipyard takeover

by The Editorial Team
January 22, 2019
in Shipping
al seer damen

Above image is used for illustration purposes only

FacebookTwitterEmailLinkedin

The President of Philippines, Rodrigo Duterte, is open to a government takeover of the recently-bankrupted Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), according to Defense Secretary Delfin Lorenzana, driven mostly by concerns to save thousands of Filipino jobs.

Defense Secretary revealed Duterte’s position after two Chinese shipbuilders expressed their interest in buying the HHIC-Phil which raised concerns among Filipino officials that this would project China’s power deeper into the region.

The company declared bankruptcy on 8 January 2019. HHIC Phil owes $900 million to South Korean lenders and $400 million to five Philippine bank giants, including Rizal Commercial Banking Corp., Land Bank of the Philippines, Metropolitan Bank and Trust Corp., Bank of the Philippine Islands and Banco de Oro Universal Bank, making it the largest corporate bankruptcy in the Philippines’ history.

While expressing sympathy for Hanjin over its financial woes, Secretary Lorenzana said he found interesting Navy chief Vice Adm. Robert Empedrad’s idea of government taking over and managing the shipyard so the country can build its own vessels, philstar reported.

RelatedNews

Panama Canal: Draft adjustment for Neopanamax locks

Post-Chinese New Year capacity still very high

In 2006, Hanjin Heavy built the Subic shipyard in the Philippines. The company built small special ships at the Youngdo shipyard in Korea and mid-size and large merchant ships at the Subic shipyard.

However, the downturn of the global shipbuilding, which has vastly hit the industry, significantly affected HHIC-Phil as it saw newbuilding orders shrank since 2016. Hanjin Heavy filed for its Subic shipyard’s rehabilitation program with the Philippine court, in order to prevent the poor performance of the Philippine affiliate from affecting the parent company in South Korea.

Tags: bankruptcyChinaHanjin Shippingshipbuildingshipyards

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

fire cruise ship sydney

Fire onboard cruise ship in Sydney harbour

February 3, 2023
gtt onboard co2 carbon capture

GTT receives €4.66M for onboard CO2 capture system

February 3, 2023

SEAFiT Poll

What is the biggest obstacle for the social life onboard?

Stay tuned for the results!

MARITIME EVENTS

Explore

  • Safety
  • Green
  • Smart
  • Risk
  • Others
  • Events
  • Plus

Useful Links

  • About
  • Disclaimer
  • Editorial Policies
  • Advertising
  • Contact

RISK4SEA Facts

Did you know that age matters for 2020? 320% more on the Detention Rate for Bulk Carriers 16-20 yo vs. 2019 in the USA.

Learn more risk4sea.com

© 2021 SAFETY4SEA

No Result
View All Result
  • Safety
    • Alerts
    • Accidents
    • Loss Prevention
    • Maritime Health
    • Regulation
    • Safety
    • Seafarers
    • Security
  • Green
    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
    • Pollution
    • Ship Recycling
    • Technology
  • Smart
    • Connectivity
    • Cyber Security
    • E-navigation
    • Energy Efficiency
    • Maritime Software
    • Smart
  • Risk
    • CIC
    • Detentions
    • Fines
    • PSC Focus
    • Vetting
  • Others
    • Diversity in shipping
    • Maritime Knowledge
    • Offshore
    • Ports
    • Reports
    • Shipping
    • Sustainability
    • Videos
  • Columns
    • Opinions
    • Career Paths
    • Industry Voices
    • Maripedia
    • Maritime History
    • Seafarers Stories
    • SeaSense
  • Events
  • Plus

© 2021 SAFETY4SEA

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Disclaimer.