HD Hyundai has introduced its first ship from the new Subic Bay shipyard, signaling the beginning of large-scale shipbuilding operations critical to the company’s growth in the Philippines.
The Orion Jade, which is the first of four ships in a series, was launched this week by HD Hyundai Heavy Industries Philippines (HHIP). This marks the first ship completed at the Subic yard since the company took over its operations. The ship is 250 meters long, 42 meters wide, and 21 meters deep.
“Today’s launch is a historic moment for HHIP,” said HHIP President Im Dae Jun during the event. “This is the third time we have made our vision a reality, and we celebrate another vital step in our journey.”
He acknowledged the support of the Philippine government, the Subic Bay Metropolitan Authority, as well as customers, suppliers, contractors, and employees who contributed to the project.
Philippine Finance Secretary Frederick Go mentioned that the launch illustrates the country’s success in attracting significant industrial investments, leading to increased manufacturing and job creation.
“The launch of the Orion Jade shows the Marcos Jr. administration's efforts to draw in strategic investments and turn these commitments into projects that create quality jobs, enhance our industrial strengths, and provide meaningful economic opportunities for Filipinos,” Go stated.
According to Go, the shipyard currently employs nearly 4,000 workers, and this number is expected to roughly double as production increases.
Beyond increasing production capacity, HD Hyundai has teamed up with the Technical Education and Skills Development Authority (TESDA) in the Philippines to train skilled workers for the shipbuilding sector, ensuring vocational training meets industry needs.
The construction of the first vessels began in September 2025 with a steel-cutting ceremony attended by Philippine President Ferdinand Marcos Jr.
Reviving a Major Shipbuilding Hub
This launch is a significant step in reviving the former Hanjin Heavy Industries shipyard at Subic Bay, which was once among the largest shipbuilding facilities globally. The yard ceased operations in 2019 after Hanjin Philippines collapsed, profoundly impacting the country’s shipbuilding sector.
HD Hyundai entered the project in 2024 after agreeing to lease part of the Subic Bay facility from a Philippine affiliate of Cerberus Capital Management, which took over the shipyard after Hanjin’s bankruptcy.
At that time, HD Hyundai announced plans to invest approximately $550 million over the next decade, with the Philippine government estimating that the project could generate around 10,000 jobs within three to five years.
Initially, the company aimed to manufacture offshore wind structures at the yard before expanding into commercial shipbuilding.
HD Hyundai already has a significant presence in the Philippines through naval programs. In 2022, the company secured a $573 million contract to build six 2,400-ton offshore patrol vessels for the Philippine Navy and has previously supplied frigates and other naval assets to the country.
The launch of the Orion Jade represents the first concrete outcome of HD Hyundai’s efforts to restore large-scale shipbuilding at Subic, bringing commercial ship construction back to a yard that used to be a cornerstone of the Philippine maritime industry.