By Claire Jiao and Cecilia Yap (Bloomberg) --The Philippines lifted its moratorium on oil and gas exploration in disputed areas of the South China Sea, a move that was welcomed by China and boosted the shares of the Southeast Asian nation’s energy producers. Resume-to-work notices were issued to Philippine National Oil Company-Exploration Corp., PXP Energy Corp. and unit … [Read more...]
Philippines Probes Ship Virus Outbreaks To Avoid Ban On Mariners
By Claire Jiao (Bloomberg) The Philippines is investigating Covid-19 outbreaks on ships that changed crews in Manila in a bid to avoid a ban on Filipino seafarers. Stricter protocols in crew-change hubs may be put in place, depending on the probe’s results, Transportation Assistant Secretary Narciso Vingson Jr. said in a statement Friday. The investigation comes after … [Read more...]
The U.S. Navy Can’t Afford to Lose the Philippines
By Admiral James Stavridis, USN, retired (Bloomberg) President Rodrigo Duterte salutes while passing members of custom police REUTERS/Romeo Ranoco The first time I sailed into Manila Bay, I was a young ensign on a Navy destroyer. It was in the late 1970s. I felt I was part of an unbroken line of U.S. sailors going back to 1898, when Admiral George Dewey destroyed the … [Read more...]
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...]