GoodNews!!! US, Australian firms in talks for possible take over of Hanjin’s Subic shipyard

GoodNews!!! US, Australian firms in talks for possible take over of Hanjin’s Subic shipyard

Good news for the Subic Bay and for the whole country!!!
The declaration of the South Korean shipbuilding firm Hanjin’s shipyard in Subic, paves the way for the partnership of an American equity firm Cerberus and an Australian ship builder to finalize their negotiations for taking over an the newest investor in Subic bay’s shipyard.

“I was told the companies were about to complete due diligence and final negotiations before the outbreak of the coronavirus, which could delay the process,” Philippine Navy chief Vice Admiral Giovanni Bacordo.
 Subic Bay’s shipyard
(photo credit to owner)

The said deal could lead to the establishment of a repair facility for the United States Naval ships.
Vice Admiral Giovanni Bacordo said that Cerberus owns DynCorp, a military contractor and global service provider.
“There is a possibility the US Navy will move back its ship repair facility to its old home in Subic if the deal goes through,” Bacordo said.

He also said that “many of the workers in Hanjin had also worked in the US Navy base. Subic has one of the best port facilities in the world, with deep and secure harbors.”
Bacordo also made his opinion be quoted in saying that he prefers ally countries would take over the facilities in Subic.
There were reports that Chinese investors were also interested in the deep natural harbor of Subic Bay.

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Report from mntfo

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