PEZA Eyes More Shipbuilding Locators Amid Growing Global Demand

The Philippine Economic Zone Authority (PEZA) is intensifying efforts to attract more shipbuilders to its economic zones, capitalizing on growing global demand. This comes as South Korean shipyards are farming out many of their orders due to their own facilities approaching capacity. PEZA Director-General Tereso Panga expressed keenness to welcome more shipbuilders to cater to the export market and satisfy domestic demand for re-fleeting of ageing vessels, including RoRo ships, bulk cargo carriers, and tankers. Mr. Panga noted that recent geopolitical disruptions have pushed US companies to seek shipbuilding needs in South Korea and Japan, rather than China. Consequently, Korean shipbuilders are increasingly turning to the Philippines as their domestic dockyards reach capacity. This demand from South Korea is expected to be a boon for the Philippine economy, protecting current workforces and supporting the expansion of established local supply chains, according to Mr. Panga. PEZA has also received inquiries from Spanish and Polish yards interested in locating operations in the Philippines. The development of Pantao Port and Ecozone in Bicol province is also anticipated to provide opportunities for shipbuilders to expand in the Philippines. PEZA-registered shipbuilding firms have invested approximately P18.9 billion between 1995 and April 2026. Currently, 13 shipbuilding activities are registered with PEZA, employing about 13,832 people as of April. In 2025, the PEZA-registered segment of the industry generated $555.17 million in exports. Key PEZA shipbuilders include Tsuneishi Heavy Industries (Cebu), Inc., Austal Philippines Pty Ltd., Tsuneishi Accommodation Cebu, Inc., Cebu Marine Industry, Inc., and Advanced Catamaran Composites, Inc. Also registered are GRT (Cebu) Corp., Asian Craft (Cebu), Inc., Confidence Marine Industries, Inc., Seatrium Subic Shipyard, Inc., and Batangas Shipyard Corp. The Philippines remains a significant shipbuilding market, driven by domestic shipyards' regular portfolio of large-scale commercial new builds, offshore vessels, and extensive ship repair and retrofit operations.