Manila: Magsaysay led Lorenzo Shipping Corporation will replace two to three vessels a year up to 2014. Lorenzo's fleet include Lorcon Cagayan de Oro, Lorcon Davao, Lorcon Zamboanga, Lorcon Visayas, Lorcon Cebu, Lorcon Manila
and the youngest Lorcon Dumaguete.
MV Lorcon Dumaguete had its naming ceremony last week, in time for the company's 38th year anniversary. The vessel, aged 11 years which has a nominal capacity of 797 TEU, will ply Manila- Davao-Cebu-Manila. It has a length of 133.18 meter, breadth of 20.80 m, depth of 10.40m and draft of 7.80 m.
Lorcon Dumaguete, worth $6 million, concluded the shipping firm's upgrading this year.
Lorenzo Shipping President Roberto Umali said they will continue to upgrade their vessels and would be replacing two to three vessels starting next year up to 2014.
He said they are cautious about the shipping industry in the next three years, claiming the world economy has not fully recovered yet.
"We want to keep our present number of vessels because we want to avoid over tonnage. Our focus is operational excellence so we are replacing our old vessels with younger ones," Umali said. [14/09/10]
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