HD Hyundai has launched Orion Jade, the first new vessel built at the former Hanjin shipyard in Subic Bay since the facility ceased operations in 2019.
The 115,000 dwt petrochemical tanker entered the water on 29 July. The 250 m vessel is part of a four-ship order placed by an unnamed Asian owner in December 2024.
Construction began with steel cutting in September 2025. The Philippines’ Maritime Industry Authority said the project has generated more than 4,000 jobs in Subic Bay. Employment is projected to double as production at the yard increases.
The launch follows efforts to restore shipbuilding at the site. U.S. investment company Cerberus acquired part of the former shipyard in 2022 through an agreement with the Philippine government.
Last year, HD Korea Shipbuilding & Offshore Engineering signed a 10-year lease for the shipbuilding operation. The site forms part of the South Korean company’s plan to expand capacity and develop lower-cost production operations.
Hyundai Heavy Industries Philippines, a subsidiary of HD Korea Shipbuilding & Offshore Engineering, is operating the shipyard. Company president Im Dae Jun described the launch as an important milestone in the development of the business.
The company previously outlined an initial plan to build up to 10 ships annually within the next three to five years. Production will focus on bulk carriers and product tankers. Orion Jade is among the largest vessels that can currently be constructed at the yard.
The Philippines previously produced as much as two million gross tonnes of ships annually, supporting employment and economic activity in the country.
Philippine officials called on shareholders to continue the development of Agila Subic Shipyard. They said the project reflects government efforts to attract strategic investment and create high-quality jobs.
