Marinelink to invest P1.67B on new ships

Filipino-owned Marinelink Tankers Inc. has invested P1.67 billion for the operation of two new domestic shipping vessels.

The first project , which has an estimated cost of P750 million, involves the acquisition and operation of a brand new 3,600 deadweight (DWT) double-hulled internationally classed petroleum tanker to transport petroleum products from refineries and terminals to oil depots and bulk plants along coastal routes all over the Philippines.

The vessel will be fitted with the Purple Finder security system, a global positioning system (GPS) device.

This will send out coordinates where the vessels are at given time during the day.  Also, it will enhance the capability of the operations team to monitor the whereabouts of the vessel to ensure that no untoward incidents have occurred.

BOI supports companies that invest on double-hulled vessels to comply with the country’s commitment to Marpol 73/78 or the International Convention for the Prevention of Pollution from ships.

Marpol calls for phasing out of all single-hulled tankers around the world by 2026. These newer models offer better protection during incidences of collision and grounding.

They also provide ease of ballasting in emergency situations and reduce the practice of saltwater ballasting in cargo tanks thereby decreasing corrosion and increasing environmental protection.

Meanwhile, the second project for registration on pioneer status by the company is for a new 6,300 deadweight (DWT) double-hulled internationally classed petroleum tanker.

This will facilitate the transport of petroleum products from refineries and terminals to oil depots and bulk plants along water bodies.

Just like the smaller unit, this vessel will also be fitted with the Purple Finder security system, a global positioning system (GPS) device to enhance the capability of the company’s operations team to monitor the whereabouts of the vessel and ensure the safety of the vessel and its crew.