The search is on for the White Knight that shall save the financially distressed Hanjin Heavy Industries and Construction, the largest shipyard in the Philippines at Subic Bay Freeport. As Hanjin Philippines plunges toward insolvency, Defense Secretary Lorenzana immediately suggested that the Philippine government adopt the shipyard and appoint the Philippine Navy to manage the facility. Lorenzana argued that such a move will benefit the Philippine coast guard in need of more ships—a proposal that President Rodrigo Duterte supported.
Source of shared Link
