UCPB Provides Loan for 2 New RORO Ferries

The United Coconut Planters Bank (UCPB) and Archipelago Philippine Ferries Corporation (APFC) have signed a new agreement to finance the purchase of 2 new ROPAX ferries for passenger transport and rolling cargoes, adding to APFC’s 10 ROPAX sister ships which came into service in recent years.

These new Catamaran RORO (Roll on, Roll off) marine vessels will run the Philippines’ eastern route as part of the APFC’s modernisation program that aims to bring in world-class and internationally compliant marine vessels to the country. Currently the APFC services the connection between the country’s 7,107 islands.

These new vessels will ensure greater passenger safety, welfare and overall comfort. The loan will partially finance the acquisition of these new state of the art vessels – designed and built by Sea Transport Solutions in partnership with Guangdong Bonny Fair Heavy Industry Ltd.

STS was in attendance of the ceremonial signing along with Guangdong Bonny Fair Heavy Industry Ltd and executives from UCPB, APFC and CAPP Industries Inc Ltd.