The US Navy appears to have thrown its hat into the ring for the shuttered Hyundai Heavy Industries and Construction Philippines (HHIC-Phil) shipyard at Subic Bay.
According to a report from US military newspaper Stars and Stripes, the Navy is "exploring the viability" of the Filipino shipyard as a repair and maintenance facility, ostensibly in a bid to push back against China's growing influence in the region.
The HHIC-Phil yard ceased production in mid-February following on a $400m loan default and an application for court rehabilitation in January. Creditors also took over South Korean parent Hanjin Heavy Industries.
In March, it was reported the yard was being maintained by a crew of just 300, a fraction of the 34,000 employed at its peak more than a decade ago.
Reportedly, Damen Shipyards of the Netherlands, France's Naval Group and a consortium of US firms had pitched plans for the facility in the country's northwest, roughly 50 miles from Manila.
Other suitors include still unnamed Chinese firms and domestic port manager International Container Terminal Services. The company's global corporate head told TradeWinds this week that any plans for the site could take up to 20 years to realise.
Subic Bay hosted a massive US Navy base until 1992 with the Filipino government rejecting lease terms and viewing the base as a extension of the country's colonial past.
According to Stars and Stripes, the recent Chinese claims on islands and reefs in the South China Sea have changed the context of US presence in the region and might make officials more welcoming.
