Facts And Developments In The Philippines’ Shipbuilding & Maritime Industry
- The arrival of foreign shipbuilders in the Philippines propelled the export growth of Philippine-made ships in the international market. After being recognized as the fifth largest shipbuilder in the world, shipyards established in the Philippines are now building more ships of larger tonnage capacities like bulk carriers, container ships and passenger ferries. The construction of 180,000-DWT commercial ship by Hanjin Heavy Industries Corporation, a South Korean shipbuilding giant, shows that the Philippines can really build world-class ocean-going vessels.
- The Philippines is quickly becoming a global shipbuilding hub by using the skills and resources of foreign players. In 2010, the country surpassed its European rivals and has since become the fourth-biggest shipbuilding nation, after China, South Korea and Japan.
- Available slots and a growing diverse range of products on offer have propelled the Philippines to the top of the global shipbuilding leaderboard for the first time. The Southeast Asian archipelago beat South Korea into top spot for order intakes for April, according to Clarkson Research. The Philippine yards won newbuildings of 590,000 cgt, followed by Korea with 530,000 cgt, China taking 290,000 cgt and Japan grabbing 150,000 cgt of orders on April 2015