Hope for PH shipbuilding industry

At the time of the study, there were about seven large and medium-sized shipyards and over 90 small shipyards throughout the country. The vast majority of shipyards employed about 50,000 full-time workers and 90 percent were engaged in maintenance and upgrades rather than construction.

Thankfully, much has been done to lift those hurdles in recent years. Significant efforts have been made by the Philippine government and private sector partners to attract foreign investment and further develop local shipbuilding and supply chains.

Recently, large investors such as Cerberus Capital Management and Austal presented their intention to enter or continue expansion within the local shipbuilding industry. Along with rising salaries, these investments may also convince more skilled workers to seek or continue employment domestically.

If these developments continue, local shipbuilding may develop into an even more critical part of the economy – more globally vital, not to mention lucrative, phase in the nation's seagoing heritage.

SOURCE: https://www.manilatimes.net/2022/03/19/public-square/how-shipbuilding-contributes-to-ph-economic-growth/1836855


As the industry reels from the economic fallout of the pandemic, MARINA had proposed that P1.6 billion be allocated to the shipbuilding industry under the Bayanihan II.

MARINA said the Philippines is the 5th largest shipbuilder globally after China, South Korea, Japan, and Germany in terms of the total gross tonnage order book for ship construction in 2018.

Philippine shipbuilders had manufactured 2,161 ships in 2017, 61% higher from 1,354 ships built in 2011, it added.

According to a study by the Duke University Center on Globalization, Governance and Competitiveness (Duke CGGC), revenue of domestic shipyards as of 2016 ranged from about $50,000 to $8.8 million, 90% came from repair rather than shipbuilding.

SOURCE: https://www.bworldonline.com/editors-picks/2020/09/17/317166/pandemic-leaves-local-shipbuilders-high-and-dry/