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Japanese company plans ship recycling yard in the Philippines

Shiprepair & Maintenance: eNews March 2017 Tsuneishi drydock Cebu

Tsuneishi Shipbuilding to discussing plans to build a giant ship recycling facility in the Visayas region of the Philippines. The Philippines Trade Secretary, Ramon Lopez said, “We met Tsuneishi President Kenji Kawano to discuss the expansion plans of Tsuneishi Shipbuilding in the Philippines. Our discussion now also covers a prospective third project on ship recycling, using the latest internationally accredited green technologies.” The $100 million investment could create up to 6,000 jobs in the region. Tsuneishi already have a shipbuilding and repair facility on Cebu Island in the Philippines, which in recent years has expanded its capacity and can now build 150,000dwt vessels.

Scrap prices have in recent months strengthened, with average prices for tankers around £270 - £350 per lightweight tonne and bulkcarriers between $260 - $330 per lightweight tonne