By Ruben A. Veloria
SUBIC, Zambales, Philippines — South Korean shipbuilder HD Hyundai Heavy Industries Philippines (HHIP) launched on Tuesday its first Philippine-made vessel M/V Orion Jade (Hull No. J001), merely 11 months after its steel cutting ceremony held at its Agila Southern Yard in Subic Bay.
Finance Sec. Fredrick Go and Korean Ambassador to the Philippines Lee Sang-Hwa, together with Subic Bay Metropolitan Authority (SBMA) Chairman Engr. Eduardo Jose Alino, HD Korea Shipbuilding & Offshore Engineering Ind.
CEO Kim Sung-joon, HD Hyundai Heavy Industries Philippines president Oh Sekwang, and local government officials, graced the ceremony.
The launching of the Orion Jade, according to Sec. Go, is clear manifestation of the success of the initiatives of the (Pres.) Marcos Jr. administration to attract investment to the country and to be able to build world-class ships.
Go added that Korean shipbuilding investment represents 4,000 jobs and thousands of created livelihood, which is expected to double in the following years as HHIP target production for 2028 is at least ten ships a year.
As he closes his message, Sec. Go expressed his gratitude to Amb. Lee, and HHIP officials, saying, “Thank you for boosting our shipbuilding capability and providing employment to Filipino workers.”
Amb. Lee described the project as “in a broader content, Subic Shipyard serves as the strategic asset to the Luzon economic corridor linking vital economic links like Clark, Subic, Manila and Batangas.”
He also commended the Filipino workers for their highly regarded skills in shipbuilding which serve as the primary foundation of the shipyards’ accomplishments.
In 2019, after the closure of Hanjin Heavy Industries, HD HHIP took over the shipyard facility with the United States equity firm Cerberus Global Investment LLC.
In September 2, 2025, President Ferdinand Marcos Jr. led the pressing of the ceremonial button to start the first cutting of steel plate marking the commencement of construction of a 115,000-ton petrochemical carrier. The ceremony held at the Agila Southern Yard, Subic Freeport Zone in Subic, Zambales— was a landmark event that marks the revival of the country’s shipbuilding enterprise.
In July 2025, iMARINE published that according to South Korean media “HHIP has received orders for seven tankers, including four 115,000-dwt LR2 tankers and three product tankers, and is expected to deliver four in 2027 and three in 2028.
HHIP’s annual production capacity is expected to be four LR2 tankers. Therefore, the company is committed to achieving full recovery by 2026. Korea Investment & Securities predicts that HHIP is expected to achieve operating income of 200 billion won, 418 billion won and 421 billion won in 2026, 2027 and 2028.
The data assumes that the construction of LR2 tankers will start in 2026 and full production will start in 2027.”
