FastCat gets P1.1-B funding from RCBC for construction of 3 brand-new ferries
Published Mar 18, 2018 12:00 am
Archipelago Philippine Ferries Corp. (APFC), the shipping company that operates FastCat, recently announced the roll-out of its modernization program after receiving P1.1-billion in funding from the Rizal Commercial Banking Corporation (RCBC) to finance the construction of three brand-new FastCat ferries.
Identified as Numbers 15, 16, and 17, the vessels are set to be improved iterations of APFC’s existing fleet of 10 FastCat ferries, which were secured during a re-fleeting program in 2010.The vessels are designed for the Philippines’ unique weather and sea conditions. The three new catamarans are expected to be operational by the first quarter of 2019.
Shown at the loan signing (from left) are: Archipelago Philippine Ferries Corporation (APFC) President and CEO Christopher Pastrana (second from left) and Chairman Dennis Trajano (left) with Rizal Commercial Banking Corporation (RCBC) Executive Vice President Michael de Jesus (second from right) and Senior Vice President Angela V. Tinio (right).
“We are fortunate that RCBC saw our vision, the need to modernize the shipping industry, to connect the Philippines through ‘moving bridges,’ and to ensure safer, more comfortable, and reliable means of sea transport,” said Christopher Pastrana, Chief Executive Officer of APFC, during the ceremonial signing for the three vessels at the Manila Golf Club.
As the country’s first and only catamaran Roll-on/Roll-off (Ro-Ro) ferries, the move is also part of the APFC’s goal of achieving “30 FastCats by 2020.” The APFC, led by Pastrana, has continuously pushed for the domestic shipping industry’s modernization — a necessity for an archipelago made up of over 7,000 islands.
By March, FastCat’s fleet will have 12 vessels in anticipation of the travel boom over the summer, serving the Jagna (Bohol) - Balbagon (Camiguin) - Opol (Cagayan de Oro) routes. FastCat is also slated to link the routes of Bulalacao (Mindoro) - Coron (Palawan) - El Nido (Palawan) within the year.
As part of the company’s long-term extension of services from domestic to regional destinations, preparations are also underway for a Buliluyan (Palawan) - Kudat (Malaysia) route.
Besides offering passengers numerous routes on world-class ferries that adhere to strict international safety standards, APFC has forged partnerships with bus companies JAM Liner and Philtranco to add to the seamless and convenient travel experience APFC aims to give passengers.
According to Pastrana, “The synergy between Philtranco, JAM Liner, Inc., Philports, and Quick Reliable Services Logistics enhances passenger service, seamless connectivity andefficient movement of goods all over the country.”
In time, APFC will enhance that travel experience even more when its land transportation partners field additional buses and jeeps to accommodate passengers. And opening a chain of budget hotels called By The Sea (BTS) in key destinations along its routes will make APFC a true comprehensive travel solutions provider.
Shown at the loan signing (from left) are: Archipelago Philippine Ferries Corporation (APFC) President and CEO Christopher Pastrana (second from left) and Chairman Dennis Trajano (left) with Rizal Commercial Banking Corporation (RCBC) Executive Vice President Michael de Jesus (second from right) and Senior Vice President Angela V. Tinio (right).
“We are fortunate that RCBC saw our vision, the need to modernize the shipping industry, to connect the Philippines through ‘moving bridges,’ and to ensure safer, more comfortable, and reliable means of sea transport,” said Christopher Pastrana, Chief Executive Officer of APFC, during the ceremonial signing for the three vessels at the Manila Golf Club.
As the country’s first and only catamaran Roll-on/Roll-off (Ro-Ro) ferries, the move is also part of the APFC’s goal of achieving “30 FastCats by 2020.” The APFC, led by Pastrana, has continuously pushed for the domestic shipping industry’s modernization — a necessity for an archipelago made up of over 7,000 islands.
By March, FastCat’s fleet will have 12 vessels in anticipation of the travel boom over the summer, serving the Jagna (Bohol) - Balbagon (Camiguin) - Opol (Cagayan de Oro) routes. FastCat is also slated to link the routes of Bulalacao (Mindoro) - Coron (Palawan) - El Nido (Palawan) within the year.
As part of the company’s long-term extension of services from domestic to regional destinations, preparations are also underway for a Buliluyan (Palawan) - Kudat (Malaysia) route.
Besides offering passengers numerous routes on world-class ferries that adhere to strict international safety standards, APFC has forged partnerships with bus companies JAM Liner and Philtranco to add to the seamless and convenient travel experience APFC aims to give passengers.
According to Pastrana, “The synergy between Philtranco, JAM Liner, Inc., Philports, and Quick Reliable Services Logistics enhances passenger service, seamless connectivity andefficient movement of goods all over the country.”
In time, APFC will enhance that travel experience even more when its land transportation partners field additional buses and jeeps to accommodate passengers. And opening a chain of budget hotels called By The Sea (BTS) in key destinations along its routes will make APFC a true comprehensive travel solutions provider.