PRESIDENT Benigno Aquino III will name and launch today (November 10) the 120th vessel built by Tsuneishi Heavy Industries (Cebu), Inc (THICI) in Balamban town in western Cebu.
The traditional Japanese ceremony will be observed during the naming of the vessel — the MV Tenshu Maru, a 180,000-deadweight ton bulk carrier with gross tonnage of about 92,900 — to be followed immediately by the official launch. President Aquino will “cut the line” that will release the vessel from its slipway and into the sea.
The vessel is by far the biggest bulk carrier built by THICI. It will be turned over to its owner, Japanese company Chijin Shipping S.A. Once delivered, Panama will be the bulk carrier’s port of origin.
THICI, located at the West Cebu Industrial Park also in Balamban, is a joint venture between the Japan-based Tsuneishi Group and the Aboitiz Group. Established in 1994, it builds bulk carriers as well as car and truck carriers for clients from different parts of the world.
Its shipbuilding operations have allowed THICI to make significant contributions to the Balamban community. It had provided employment to some 11,000 local workers, and helped build a university and hospital in the municipality. For 2010 alone, the company is expected to generate at least P32 million in revenues for the government.
THICI is fully booked for orders until 2013 and among its immediate plans is to build more shipbuilding facilities.
