President Ferdinand Marcos has declared the revival of the Philippine shipbuilding industry, pledging to “reclaim our rightful place among the world’s great shipbuilding nations” as HD Hyundai Heavy Industries confirmed its restart of large-scale production in Subic Bay at a yard formerly owned by Hanjin Heavy Industries & Construction.
“In 2014 to 2018, we were producing up to 2m gross tons of ships annually. Then, in 2019, we lost momentum,” Marcos said on Tuesday at the inauguration of the HD Hyundai Shipyard in Zambales. “Today, we raise the sails once more.”
The Subic facility, which shuttered in 2019 under the weight of debts and global yard overcapacity, is leasing 200 ha from Cerberus-owned Agila Subic. From 2026, capacity is expected to nearly double from 1.3m dwt to 2.5m dwt, allowing the yard to construct up to eight VLCCs annually and support offshore wind projects. HD Hyundai has also recently formed a tie-up with Cerebus in the US as it expands its global footprint.
The Philippines is no stranger to global shipbuilding. Between 2010 and 2018 the nation ranked behind only South Korea, China, and Japan in global output, with Subic and Cebu-based Tsuneishi Heavy Industries leading production.
Training is central to the revival in the Philippines. Marcos pointed to a new TESDA–Hyundai partnership: “We have 16 training programs, from marine electricity to arc welding, so that the skills forged here meet the standards of any shipyard around the world.”
For decades, the Philippines has been synonymous with supplying crews—30% of the world’s seafarers are Filipino. Marcos insisted it was only fitting the country also builds the ships they sail on: “Together, let us show the world that Filipinos have the skills, the vision to navigate the uncertain waters of an ever-changing world.”
