Philippines: BOI Approves Nautilus Shipyard’s Ship Repair Facility

The Board of Investments (BOI) approved recently a P259 Mln ship repair facility of Philippine company Nautilus Shipyard Repair Inc. The facility will be located at the Navotas Fishery Port Complex in Navotas City.

The facility, which will start its operations in June 2013, will have the capacity of 96 vessels every year. When operational, it will use standard marine travel lift equipment designed for vessels up to 45 feet wide and with capacity of 600 tons. It will also have minimum berthing capacity of 7,500 DWT, a statement from the BOI said.

BOI said global demand for marine vessels and ships have risen to US$ 106 billion in 2010. The agency promotes the Philippines as a viable location for ship building and ship repair in Asia.

The Philippines is recognized as the 4th largest shipbuilder in the world as more shipyards in the country are now building more ships of larger tonnage capacities like bulk carriers, container ships, and passenger ferries. Investments in ship building facilities benefit food manufacturing, tourism, transportation, oil and steel industries. Shipbuilding is among the investment activities listed in the Philippines’ 2012 Investment Priorities Plan (IPP), an annual list of sectors for investment promotions.

According to the Maritime Industry Authority (MARINA), the Philippine shipbuilding industry employs about 39,000 workers, 70% of whom belong to the skilled and semi skilled category. Meanwhile, the Technical Skills Development Authority (TESDA) has laid out a manpower development plan for the shipbuilding sector and has trained 95,000 welders. As of 2010, more than 50,000 engineers and architects are also employable by the industry.

International shipbuilding companies present in the Philippines include Korea’s Hanjin Heavy Industries Corporation, Japan’s Tsuneishi Holdings Corp, and Singapore’s Keppel. These shipbuilding companies are located in Batangas, Cebu, and Subic. (DTI)

[mappress]

Press Release, November 23, 2012