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Taiwan ports express interest to invest in Subic

Taiwan ports express interest to invest in Subic
Taiwan International Ports Corp (TIPC) may invest in Subic Bay Freeport in the Philippines due to its potential to attract more shipping activities, reports said.

Chang Chih-ching, chairman of TIPC, revealed the investment interest following a meeting with Subic Bay Metropolitan Authority chairman Roberto Garcia, The Standard reported.

“Subic is the finest commercial and tourism destination that we have seen, and the future cargo shipping destination,” Chang was quoted as saying. “Subic must prepare for the future as more cargoes are expected to come here from Taiwan because the port in Taiwan is already full. They are coming to Subic and we [TIPC] can help make that happen.”

Ports in Taiwan are nearing full capacity and many shippers in the island-state are planning to invest overseas, particularly in the Taiwanese-managed Subic Bay Gateway Park.

Chang was also reported saying that TIPC would set up a meeting with shipping firms and port users in Taiwan, and present to them the opportunities for trade at Subic.

Garcia noted that Subic has been progressing in terms of transhipment volumes and maritime logistics services, with box throughput increasing to 123,558 teu in 2015 from 77,618 teu in 2014.