Subic yard delivers first newbuilding

The South Korean shipbuilder Hanjin Heavy Industries has started running sea trials for the first-ever ship built at its $1.6 billion Subic shipyard in Indonesia. Hanjin, whose projects in Subic and Misamis were alleged to have been tainted with anomalies, said the sea trial in the South China Sea is being conducted before the ship’s delivery in June to the Greek company of Dioryx Marine Corporation. The 4,300 TEU container ship, named ?Argolikos?, is reportedly to have cost $60 million to build.