Austal, Cerberus Team Up in Possible Bid for Hanjin’s Philippine Shipyard

MANILA, Oct 9 (Reuters) - Australian shipbuilder Austal Ltd and U.S. private equity firm are considering a joint bid for a strategically located but debt-laden Philippine shipyard, the facility's trustee said on Wednesday. Hanjin Philippines, a unit of South Korea's Hanjin Heavy Industries & Construction Co Ltd, in January defaulted on $1.3 billion in loans, of which … [Read more...]

Philippines Won’t Bar Chinese Proposals for Hanjin Heavy Shipyard Takeover

By Neil Jerome Morales and Karen Lema MANILA, April 25 (Reuters) - All offers from potential buyers of a strategically located but debt-laden Philippine shipyard will be welcome, the trade minister said on Thursday, ruling out barring Chinese firms over national security fears. Trade Secretary Ramon Lopez said the government would not, and could not, block interested buyers … [Read more...]

Philippines President Duterte Bans Foreign Research Ships

By Manuel Mogato MANILA, Feb 6 (Reuters) - Philippine President Rodrigo Duterte has banned all foreign scientific research off the country's Pacific coast and told the navy to chase away unauthorized vessels, despite earlier allowing Chinese oceanographers to operate there. There was no clear explanation for the about-face by the mercurial Duterte, who has cultivated … [Read more...]

Hundreds Rescued After Ferry Capsizes in Philippines

MANILA, Dec 21 (Reuters) - Four people were killed and seven were missing after a Philippine ferry with 251 people on board capsized during bad weather on Thursday near the capital, Manila, disaster officials and a coastguard spokesman said. Accidents involving boats sailing between the many islands of the Philippines are common. Vessels are often overloaded but the … [Read more...]