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| DBP joint venture with PN shipyard | |
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| Tweet Topic Started: Feb 23 2010, 01:27 AM (1,021 Views) | |
| pachador | Feb 23 2010, 01:27 AM Post #1 |
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Well, my idea that was shared by certain PN officers of the NMLC linking up with the Philippine navy is starting to bear fruit. mabuhay ang PN ! DBP ready to finance more vessels to boost Ro-Ro program By EMMIE V. ABADILLA February 22, 2010, Manila Bulletin After connecting major islands in the Philippine archipelago via 20 Roll-On Roll-Off (RO-RO) missionary routes in the span of a decade and funding the acquisition of 28 vessels, the Development Bank of the Philippines (DBP) aims to add 20 brand-new and 26 second-hand vessels to its fleet in the next 4 years.The state-owned bank financed the vessels as well as the upgrading of 12 ports under its Sustainable Logistics Development Program (SLDP), which falls directly under the Strong Republic Nautical Highway (SRNH) initiative. Last year, the biggest chunk of DBP’s P167.01-billion total loan portfolio was appropriated to the SLDP, which funded P13.42-billion projects linking up the country’s over 7,000 islands via sea lanes as the major arteries of trade, bringing down the cost of goods through a modern storage, handling and transport system, according to President and CEO Reynaldo G. David. “In 2008, DBP acquired the National Maritime Leasing Corporation (renamed as DBP Leasing Corporation or DBLPC) to immediately provide long-term financing to fast-track the Road Ro-Ro Terminal System (RRTS), a key component of the SLDP,” he noted. DMLC is the only government financial institution solely dedicated to the maritime industry. It offers a lease program as an alternative financing scheme to acquire RO-RO vessels. Significantly, shippers who want to operate RO-ROs prefer to lease the vessels because the arrangement requires no major capital investment and offers real cash flow advantages. So far, DBP identified 49 routes under the RRTS. However, DMLC focused on developing the 34 missionary routes where there are no RORO services, no regular shipping services or no services whatsoever. Today, DBPLC owns 7 RO-RO vessels managed by different operators to service Luzon and the Visayas, with 2 more coming this year. These include the M/V Maria Natasha, M/V Maria Lolita and M/V Maria Oliva, which Montenegro Shipping Lines operate in the Roxas, Oriental Mindoro- Caticlan route. DMLC is also leasing M/V MS Romblon, which Romblon Tablas Sibuyan Lines operate in the Batangas, Romblon, Sibuyan Island and Calapan, Oriental Mindoro route. M/V Lolo Uweng of Landayan, which is operated by Boac Ferries Inc., serves San Juan, Batangas and Pinamalayan, Oriental Mindoro. A couple of other ships, which Star Horse Shipping Lines operate, ply the Southern Luzon route, serving Quezon, Batangas and Marinduque. “With the RO-RO, the fare is less than the usual fare of fast crafts and other seaferries in the area. Of course, it is also much cheaper than airplane fares,” commented Mogpog, Marinduque Mayor Senen M. Livero Jr. All RO-RO vessels are currently under lease. “This move allowed us to develop 20 missionary routes,” according to David. In the next decade, DMLC is plans to expand its fleet by 46 more vessels. In addition, the company is coordinating its missionary route development initiatives with the Philippine Ports Authority. Furthermore, DMLC has identified 13 priority missionary routes in Luzon and Visayas as viable enough for leasing RORO vessels to interested shipping operators. Bicol region has 3 missionary routes which traverse Pilar, Sorsogon to Aroroy, Masbate; Pasacao, Camarines Sur to San Pascual, Burias Island and Pio Duran, Albay to Claveria, Burias Island. To ensure the shipping operators’ competitiveness, DMLC plans to adjust their monthly operating lease payments in accordance with prevailing market conditions. The company also provides route assessment and advisory services as well as technical assistance. On top of acquiring and leasing RORO vessels, DMLC is assisting communities along the missionary routes they are developing, setting up credit cooperatives to improve people’s access to micro-finance as well as supporting skills development among farmers and fishermen. Finally, in collaboration with the Philippine Navy, DBPLC is looking to joint-venture, develop, and upgrade the Philippine Navy’s San Felipe shipyard in Cavite. The goal is to modernize the domestic shipping sector, at the same time, ensure that all RORO vessels are properly classed, safe, and seaworthy, the DBP CEO elaborated. Note: The DBP is also the lending institution that the Philippine Navy is approaching to finance the MRV vessel |
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| fatbat_mca | Feb 23 2010, 11:47 AM Post #2 |
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great!, its a start! other government FIs can chip in too. :thumb: |
oh my sofie!
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| truegrit | Feb 26 2010, 12:35 PM Post #3 |
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If DBP will finance PN Shipyard in Fort San Felipe then is it possible that the PN can regenerate its capability to build their own Patrol Vessels gearing towards Self-Reliance. Hope PN have plans to locally build Corvettes based on the Peacock-class and PKM-class boats at Fort San Felipe Shipyard. This plan can save us money and help our countrymen to have jobs if there are projects (shipbuilding) inside the PN Shipyard. |
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| pachador | Feb 27 2010, 02:08 AM Post #4 |
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there are 2 upcoming projects. Thats all that i have been told unfortunately so i have not more info. abangan !! mabuhay ang puwersa nabal ng pilipinas ! |
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8:59 AM Jul 11