Marine services provider Harbor Star Shipping Services, Inc. (HSSSI) has signed a deal to inspect and clean a petroleum company’s mooring facility every quarter, the second agreement of its kind signed by HSSSI this year.
HSSSI disclosed to the Philippine Stock Exchange that for one year starting October 2017, it will conduct quarterly inspection and cleaning services for the petroleum company’s single buoy mooring/conventional buoy mooring facility and main pier anodes and steel piles.
In a text message to PortCalls, HSSSI declined to name the petroleum company but said the facility is located in Bataan.
HSSSI said it has been strengthening its marine ancillary services by offering port construction, pier repair, and other marine port-related development.
The company said its “continued aggressiveness in improving its services is in line with its vision to be the leading marine services provider in the Philippines.”
HSSSI is also looking at closing a similar agreement for next year and hopes the contribution of ancillary services to the company’s revenue will continue to increase.
Revenues from the company’s other marine services doubled to P35 million in the second quarter of 2017 from P15.1 million in 2016, arising from buoy dry-docking repairs.
The marine services provider has been expanding its business portfolio, which now includes a new diving and marine maintenance unit, a wholly owned energy unit called Harbor Star Energy Corporation, and a venture into the construction business. It is also looking to further develop and strengthen its new wholly owned subsidiary Harbor Star Subic Corporation, which offers marine-related ancillary services within the Subic Bay Freeport Zone, and establish a joint-venture company to operate several floating dry-dock facilities in the Philippines.
It is spending almost P1 billion this year to expand and diversify its business operations locally and overseas.
Meanwhile, the company recently renewed its marine tugboat service agreement with Pearl Energy Philippines Operating Inc. (PEPOI), operator of the Quezon Power Project, a power plant in Mauban, Quezon.
HSSSI will provide three tugboats to assist arriving ships at the Mauban port of PEPOI from November 1, 2017 to October 31, 2020.
HSSSI has been the tugboat service provider of PEPOI since it started commercial operations in May 2000.
