HD Hyundai Launches First Ship From Revitalized Philippine Shipyard
The Philippines marked a key milestone in its long efforts to revitalize the former shipbuilding operations at Subic Bay as HD Hyundai officially launched its first new construction. The South Korean shipbuilder last year took over the former Hanjin shipyard and restarted operations with a promise of significant investments.
The 115,000 dwt petrochemical tanker Orion Jade was launched on July 29 as the first newbuild at the yard, which had ceased operations in 2019. At its pinnacle, the Philippines used to produce up to two million gross tonnes of ships annually and was one of the major contributors to economic growth and job creation.
The tanker is part of a four-ship order that HD Hyundai received in December 2024 from an unnamed Asian owner. The ship measures 250 meters in length (820 feet) in length. Work began with the steel cutting in September 2025, and according to the Philippines’ Maritime Industry Authority (MARINA), the project has already generated over 4,000 jobs in Subic Bay. It said that employment is projected to double as production continues to ramp up at the yard.
The U.S. investment company Cerberus took over a portion of the former site in 2022 in a deal with the government and began efforts to revitalize the operations. Last year, HD Korea Shipbuilding & Offshore Engineering signed a 10-year lease for the shipbuilding operation. It is a key part of the South Korean company’s efforts to develop lower-cost operations and expand capacity.
“Today's launching marks a historic milestone for HHIP,” said Im Dae Jun, president of the newly launched Hyundai Heavy Industries Philippines, a subsidiary of HD KSOE. “It's the third time we have transformed our vision into reality, and today, we proudly celebrate another important step in our journey.”
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The company said last year that its initial plan called for building up to 10 ships a year within the next three to five years. It is focusing on bulkers and product tankers, with the new Orion Jade being one of the largest ships that can currently be built at the yard.
Philippine officials urged the shareholders to build on the momentum for the new Agila Subic Shipyard. They said it represents the government's efforts to attract strategic investments that will provide high-quality jobs.
