BR100 Decreased By (-0.98%)
BR30 Decreased By (-0.58%)
KSE100 Decreased By (-0.97%)
KSE30 Decreased By (-1.07%)
AGHA 7.70 Decreased By ▼ -0.11 (-1.41%)
BECO 5.13 Decreased By ▼ -0.08 (-1.54%)
BML 56.67 Decreased By ▼ -0.83 (-1.44%)
BOP 33.75 Decreased By ▼ -0.28 (-0.82%)
CNERGY 9.88 Decreased By ▼ -0.08 (-0.8%)
CSIL 5.29 Decreased By ▼ -0.02 (-0.38%)
FCCL 53.09 Decreased By ▼ -1.61 (-2.94%)
FFL 16.52 Decreased By ▼ -0.17 (-1.02%)
FNEL 1.21 Decreased By ▼ -0.02 (-1.63%)
KEL 7.22 Decreased By ▼ -0.18 (-2.43%)
KOSM 5.72 Decreased By ▼ -0.05 (-0.87%)
LOTCHEM 29.31 Decreased By ▼ -0.01 (-0.03%)
MLCF 92.16 Decreased By ▼ -2.20 (-2.33%)
NBP 201.61 Decreased By ▼ -1.44 (-0.71%)
NCPL 56.45 Decreased By ▼ -0.55 (-0.96%)
NPL 66.57 Decreased By ▼ -1.13 (-1.67%)
OGDC 316.29 Increased By ▲ 0.45 (0.14%)
PACE 10.48 Decreased By ▼ -0.16 (-1.5%)
PAEL 42.04 Decreased By ▼ -1.16 (-2.69%)
PIBTL 16.41 Decreased By ▼ -0.33 (-1.97%)
PPL 216.84 Decreased By ▼ -2.94 (-1.34%)
PRL 50.86 Increased By ▲ 1.67 (3.39%)
PTC 69.86 Decreased By ▼ -0.67 (-0.95%)
SSGC 26.98 Decreased By ▼ -1.27 (-4.5%)
TBL 9.73 Decreased By ▼ -0.13 (-1.32%)
TELE 8.65 Decreased By ▼ -0.14 (-1.59%)
TPL 17.90 Decreased By ▼ -0.34 (-1.86%)
TPLP 13.39 Increased By ▲ 0.12 (0.9%)
TREET 22.56 Decreased By ▼ -0.16 (-0.7%)
TRG 59.26 Decreased By ▼ -0.88 (-1.46%)
By

MANILA: The Philippines has ordered two new warships from South Korea's Hyundai Heavy Industries, Defence Secretary Delfin Lorenzana said Tuesday, modernising Manila's navy as it faces a dispute with Beijing in the South China Sea.

The Philippine Navy had become run down in recent decades -- even featuring US craft from World War II -- until President Rodrigo Duterte's predecessor, Benigno Aquino, began a modest modernisation programme in 2010.

Tuesday's 28 billion pesos ($556 million) deal with the South Korean shipbuilding giant comes five years after the firm also won a contract to build two new frigates for the Philippine Navy.

Corvettes and frigates are small, fast warships mainly used to protect other vessels from attack.

"This project will give the Philippine Navy two modern corvettes that are capable of anti-ship, anti-submarine and anti-air warfare missions," Lorenzana said in a speech at the signing ceremony in Manila.

The deal "will ensure commonality and interoperability with our existing assets," he added, as well as "ease of maintenance and repairs".

Manila has since acquired two former US Coast Guard cutters and three landing craft from Australia, as well as coast guard patrol vessels from Japan, in an effort to bolster its presence in the South China Sea, where it faces a dispute with Beijing.

China claims almost all of the waterway, through which trillions of dollars in trade passes annually, with competing claims from Brunei, Malaysia, the Philippines, Taiwan and Vietnam.

Beijing has ignored a 2016 ruling by The Hague-based Permanent Court of Arbitration that its historical claim is without basis.

Comments

Comments are closed for this article.