HHIP Launches First Subic-Built Ship, Boosting Philippine Industrial Capacity

MANILA, Philippines — HD Hyundai Heavy Industries Philippines (HHIP) yesterday officially marked the start of its full-scale shipbuilding operations by launching its first newly built vessel, the "Orion Jade," at its Subic shipyard. The "Orion Jade" is a 115,000-deadweight tonnage crude oil/product tanker, the first of four ships ordered by an Asia-based shipping company. The vessel measures 250 meters in length, 42.4 meters in beam, and 21.5 meters in depth. Approximately 100 guests attended the launching ceremony, including Im Dae-jun, president of HD Hyundai Heavy Industries Philippines; Finance Secretary Frederick Go; and Lee Sang-hwa, Korean Ambassador to the Philippines. Finance Secretary Go stated that the launch is a "testament to the Marcos Jr. administration’s efforts to attract strategic investments and ensure that these commitments materialise into projects that generate quality jobs, strengthen our industrial capabilities and create meaningful economic opportunities for Filipinos." Im expressed his gratitude to the Philippine government, the Subic Bay Metropolitan Authority, and its suppliers and contractors for supporting the firm’s local operations. This development signifies concrete progress in the Marcos Jr. administration's objective to strengthen the country's industrial base and attract foreign investment to revitalize the domestic economy. The Subic Bay area, historically a military base, has been undergoing redevelopment as an economic zone, and the entry of such large-scale manufacturing operations symbolizes the region's economic transformation.