Tsuneishi to expand its yard in the Philippines

Tsuneishi to expand its yard in the Philippines
Sam Chambers September 3, 2024 https://splash247.com/tsuneishi-to-expand-its-yard-in-the-philippines/

It’s not just in China where shipyards are expanding to meet pent-up demand for new ships.

In the Philippines, Japanese-backed Tsuneishi Heavy Industries (Cebu) has announced plans to add a further 30 ha of space to its yard, adding an extra slipway and another drydock. The expansion will see the Philippine yard increase annual capacity by 25% to 30 ships.

The Cebu yard is also about to start construction of its first methanol dual fuel ships, having recently won an order for a seven alternatively fuelled kamsarmaxes.

Tsuneishi also has yards in Japan and China a nation where shipyards are expanding and churning out ships on a scale not seen since 2008.

In terms of newbuilding capacity, the latest estimate from broker Arrow puts shipbuilding capacity across the big three builder countries – China, South Korea and Japan – at 35.6m cgt per annum, a 20% increase year-on-year from 29.5m cgt a year ago, with the majority of this capacity expansion in China and South Korea.

Elsewhere in Asia, there has been a noticeable buildup in shipbuilding aspirations coming out of India this year with the country determined to climb the ranks to become a top five shipyard nation within the next decade.