Hanjin completes second ship in Subic yard

South Korean shipbuilder Hanjin Heavy Industries Corp.-Philippines announced yesterday the completion of its second container ship, named CMA CGM Turquoise, with a market value of over $60 million.

Hanjin completed the ship just over a month after delivering its first order, the mv Argolikos, to its Greek owner on July 4. The new vessel, which can accommodate 4,300-TEU (twenty-foot equivalent) containers, was towed from Hanjin’s Drydock 5 to the shipyard’s quayside, where it will sit for three months as electrical systems and other facilities are installed prior to its sea trial. The vessel will be delivered to Dioryx Maritime Corp., the Greek shipping company that bought mv Argolikos. Subic Bay Metropolitan Authority administrator and chief executive Armand Arreza said CMA CGM Turquoise was part of the 16 container vessels scheduled for completion in the free port zone. Hanjin, one of the biggest shipbuilders in the world, has invested about $1.7 billion for its shipyard project here and employs more than 5,000 workers. Hanjin officials said productivity in the shipyard was fast catching up with South Korea ’s. “Filipinos learn fast—now they are experts,” said Hanjin quality assurance director Yoonha Kim. He said Filipino workers displayed “world-class efficiency” in hull construction and engine installation for the Turquoise within the standard Hanjin timetable of 13 months.
Read More