MARINA to help shipping companies, yards modernize via Busan Engineering partnership

MARINA to help shipping companies, yards modernize via Busan Engineering partnership
Arjay L. Balinbin January 19, 2023 https://www.bworldonline.com/economy/2023/01/19/499707/marina-to-help-sh...

THE Maritime Industry Authority (MARINA) said on Thursday that its partnership with South Korea’s Busan Marine Engineering Association (BUEA) will help shipping companies and shipyards build modern ships.

“The role of MARINA is to assist the shipping companies and shipyards in availing of the modern ship designs offered by BUEA based on the shipowner’s requirements,” MARINA said in a statement when asked by BusinessWorld for details of the partnership.

MARINA said it will also assist Philippine companies in obtaining financing for ship construction from government institutions “such as, but not limited to, the Development Bank of the Philippines.”

The “Integrated Ship Construction Support System Project” of MARINA and BUEA is expected to help introduce modern ship design and technology from South Korea.

According to MARINA, shipping companies have until Feb. 15 to submit applications to participate in the first phase of the project, which involves conceptual design.

The second phase is design development, while the third phase is contract signing.

MARINA and BUEA met with domestic shipping companies on Jan. 16, according to the agency.

Among the domestic shipping companies that attended were Oceanic Container Lines, Inc., Magsaysay Shipment, Inc., and 2GO Group, Inc.