HD Hyundai plans to restart large-scale shipbuilding in the Philippines from January 2026 after signing a 10-year lease for 200 hectares at Agila Subic, a facility owned by U.S. investment firm Cerberus. The company intends to invest around $550 million over the next decade to build offshore wind platforms and commercial vessels.
According to company officials, the Subic shipyard will target producing up to 10 vessels annually within three to five years, creating thousands of jobs. Training programs for welders are underway, and 3,500 employees have already been hired. Once operational, the workforce is expected to reach about 7,000, compared to the 13,000 peak under the former Hanjin shipyard.
The upgraded facility will produce double-hulled product carriers between 200 and 250 meters in length, with construction periods of 16–18 months. All vessels will be classified under the American Bureau of Shipping.
Agila Subic General Manager Mark Milan said heavy infrastructure from the Hanjin era, including cranes, has been preserved. “We purchased them from the banks after Hanjin’s closure,” he noted.
In 2022, the Philippines ranked seventh globally in shipbuilding output, delivering nearly 400,000 gross tons — far below past capacity and behind South Korea and Japan. Officials hope Hyundai’s entry will pair advanced foreign technology with the country’s maritime workforce to boost competitiveness.
Philippine President Ferdinand Marcos Jr. welcomed the partnership in May 2024, stating it would “bring maritime manufacturing back to Subic” (The Manila Times, May 2024).
