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By 2015, the Hanjin Subic Shipyard became one of the top ten top 10 shipbuilders in the world in terms of orderbook. [3] At one point, the Philippines is the fifth largest shipbuilding nation in the world, largely owing to the output of the Subic shipyard. [7] At its peak in 2016, the shipyard employed 35,000 people. [8]
Austal would later drop its bid to have a stake in the shipyard. [12] Agila Subic became Cerberus' new partner, taking over the shipyard's operations in March 2022. [13] Agila Subic is a Dutch venture consisting of four companies that are affiliates of Cerberus. [14] Accordingly, the shipyard was renamed the Agila Subic Multi-Use Facilities. [15]
In March 2022, the nearby Agila Subic Shipyard was acquired by the American private equity firm Cerberus Capital Management, after the previous owners, South Korean shipping company Hanjin went bankrupt, amid concerns about rising tensions between the U.S. and China. The Port itself remained under SBMA and PPA ownership.
Subic Bay is a bay on the west coast of the island of Luzon in the Philippines, about 100 kilometers (62 mi) northwest of Manila Bay.An extension of the South China Sea, its shores were formerly the site of a major United States Navy facility, U.S. Naval Base Subic Bay, now an industrial and commercial area known as the Subic Bay Freeport Zone under the Subic Bay Metropolitan Authority.
Another main road is the Philseco Road that ends from Barangay Asinan proper down to Seatrium Subic Shipyard (formerly Keppel Subic Shipyard and Philippine Shipyard and Engineering Corporation). [citation needed] The Govic Highway Extension runs from Castillejos down to Hanjin Shipyard and is exclusively used by its workers. [citation needed]
The Subic Special Economic ... The Spanish built a shipyard and naval base in Subic bay in the 1800s. ... The now-defunct Hanjin Philippines was the single biggest ...
The area of jurisdiction of the SBMA includes the erstwhile U.S. Naval Base Subic Bay, parts of Redondo peninsula where the Subic Hanjin shipyard is located, and erstwhile US defence accommodations in the hills consisting of Binictican and Kalayan housing areas. [4] The agency is currently headed by Eduardo L. Aliño as of January 22, 2024.
Hanjin Heavy Industries Corporation Philippines (Zambales) Keppel Philippines Marine Batangas Shipyard (Bauan, Batangas) Keppel Philippines Marine Subic Shipyard (Subic, Zambales)