Harbor Star barges tapped for Cebu bridge construction

HARBOR Star Shipping Services, Inc. was tapped to supply barges for the construction of a new bridge connecting connect Cebu City to the municipality of Cordova.
In a disclosure to the stock exchange on Friday, the tugboat operator said it was awarded a P118-million contract to provide Cebu Link Joint Venture (CLJV) with two specialized barges.
CLJV is a joint venture of Spain-based Acciona Construccion S. A. and Philippine-based First Balfour Inc. and D.M. Consunji Inc.
The joint venture is the main contractor for the 8.5-kilometer Cebu-Cordova Link Expressway.
Harbor Star specializes in ocean towage and commerce, and navigation carriage of goods and passengers.
In February, Harbor Star received the go-signal from Myanmar’s Ministry of Planning and Finance for the creation of a subsidiary in the Southeast Asian country as part of its international expansion.
It was previously talks with a port authority in Myanmar, as well as also looking at opportunities in Malaysia and Indonesia.
Last year, Harbor Star said it planned to spend about $8 million for domestic and international expansion.
Shares in Harbor Star rose 41 centavos or 11.23% to close at P4.06 each on Friday. — Krista Angela M. Montealegre