Two Chinese shipbuilders have expressed their interest in buying the Hanjin Heavy Industries and Construction Phillipines shipyard, prompting concern from policy and defense analysts. HHIC Phil owes $900 million to South Korean lenders and $400 million to five Philippine banks, making it the largest corporate bankruptcy in the Philippines’ history.
Mainly, the interest of Chinese builders has raised concerns in the Philippines.
More specifically, former Philippine Navy chief Alexander Pama...
https://safety4sea.com/pair-of-chinese-shipbuilders-considers-buying-yard-in-subic-bay/