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Cebu-based firm eyes 25-30 ships yearly output

Posted on May 9, 2015

By Eddie O. Barrita

CEBU CITY, May 9 (PNA) — Cebu-based Tsuneishi Heavy Industries (Cebu) Inc. (THICI) has envisioned an average production of 25 to 30 ships a year, an official said.

THICI president and chief executive officer Akihiko Mishima said the company is set to deliver a total of 18 ships this year, one less than the 19 ships delivered in 2014.

THICI, a joint venture between Tsuneishi Group of Japan and the Cebu-based Aboitiz Group, was established in 1994 and has invested some Php 22 billion in Cebu over the last 20 years.

The company has a shipyard in Balamban town, some 50 kilometers west of Cebu City.

THI’s revenues have decreased amid weaker demand in the last three years, from Php 42 billion in sales in 2012, to Php 30 billion in 2013 and Php 24.5 billion in 2014, with projected sales this year of Php 21 billion.

“Currently, the company can produce an average of 20 ships per year but capacity-wise, we can build more. In an effort to strengthen cost competitiveness, THICI aims to build 25 to 30 vessels per year,” Mishima said.

Mishima has been with the Tsuneishi Group in Japan for more than 30 years.

He joined THICI as a director in 2014 before taking over as president and chief executive.

Mishima said THICI is also looking at eco-friendly vessels to survive in this “very competitive” shipbuilding environment.

The company has come up with the Tsuneishi Economical Standard Ship (TESS), which is positioned for its fuel efficiency and large cargo capacity.

Under Mishima’s leadership, the 200th ship built in Cebu, the TESS35, will be turned over to its owner in June 2015.

THICI introduced last year its latest ship model, the Eco-Ship TESS64 and TESS58 Aeroline, which were said to have increased fuel efficiency by 20 percent and reduced wind resistance.

“Tsuneishi brand ships manufactured by the Tsuneishi Group are of the same high level of quality, wherever they are made,” Mishima said.

The Tsuneishi Group also has shipyards in Japan, China and Paraguay.

Ships built in Cebu now deliver coal, steel, logs, trucks and various cargo all over the world.

In 2014, the Philippines ranked fourth worldwide in ship production. China ranked first, followed by Korea and Japan. (PNA)

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