The Philippines is among the top shipbuilding countries in the world, according to Tereso Panga, director-general of the Philippine Economic Zone Authority (PEZA).
Panga credits this to the growing presence of the world’s largest shipbuilders in the country.
In particular, Balamban, Cebu is the shipbuilding capital of the Philippines as it is home to shipbuilding industry leaders such as Austal, Australia’s global shipbuilder and defense prime contractor, Cebu Marine Industry Inc., one of the world’s top luxury yacht builders for the Hudson Yacht Group and Tsuneishi Heavy Industries (Cebu) Inc. , one of the biggest shipbuilders in Japan.
Apart from these PEZA registered shipbuilders, other projects are Hyundai shipbuilding in Subic; Seatrium shipyards in Batangas and Subic; NYK-Fil Maritime E-training, and the upcoming tanker vessel manufacturing ecozone in Mindoro.
The country also has a number of independent yacht and ro-ro vessel builders
Panga said the Philippines has all the favorable factors that make it attractive to investors into shipbuilding and other ancillary activities.
The Philippines is the world’s leading supplier of seafarers, the fifth country in the world with longest coastline and island coves.
It has significant deposits of iron ore and coal, the basic raw materials for steel plates in ship hulls, which comprise 50 percent of the production cost of a vessel.
The Philippines also has a growing number of integrated steel mills, and a huge pool of workforce skilled in TIG/electric welding.
“This industry, being a significant source of jobs, trade, investments and countryside development can spur and sustain our GDP growth,” Panga said.
