HARBOR Star Shipping Services, Inc. said it will provide Chevron Philippines, Inc. with tug assist and mooring services for the next three years, starting this month.
In a disclosure to the stock exchange on Wednesday, the listed company said it signed a Tug Assist and Mooring Service contract with the local unit of energy giant Chevron Corp.
“(Harbor Star) will provide harbor assist and mooring services to tankers calling Chevron’s terminals in Batangas, Cebu, Davao and Misamis Oriental,” the tug assist operator said.
Chevron, which markets Caltex fuels, lubricants and other petroleum products in the Philippines, awarded the contract to Harbor Star after a competitive bidding and selection. The contract started on Feb. 1, 2019.
Chevron operates an import terminal in San Pascual, Batangas. It also has 20 supply facilities throughout the country.
“This (Chevron deal) is in line with (Harbor Star’s) direction to continually enter into exclusive service contracts with customers to guarantee recurring revenue,” it said.
Last year, Harbor Star had also signed a service contract with GNPower Kauswagan Ltd. Co. which will run until December 2019.
“[L]ast December 2018, (Harbor Star) entered into a service contract with GNPower to exclusively provide the docking, undocking and emergency requirements of vessels calling GNPower’s terminal in Lanao del Norte,” the company said.
Harbor Star is a tug assist operator with presence in 15 base ports in the country, including the Manila International Container Terminal and the Manila South Harbor.
In the nine-month period ending September, Harbor Star posted a flat attributable net income of P66.26 million from P65.73 million during the same period in 2017. — D.A.Valdez