FastCat allots $160 M for new vessels

The operator of FastCat rollon/roll-off ferries is looking to invest around $160 million to acquire new vessels as it plans to expand operations by opening routes that would connect the Philippines to Malaysia and Indonesia in the next two years.

Archipelago Philippine Ferries Corp. (FastCat) chairman and president Christopher Pastrana said in a press conference the company would be investing the amount for 20 new ships.

At present, the company has 10 vessels.

Pastrana said the vessels would be used to connect passengers as well as carry cargo to various points in the Philippines.

He said the investment is also being made to support the plan to expand outside of the country.

In particular, the company is looking at opening the Malaysia to Palawan route.

The route would start by picking up passengers in Kudat in Malaysia, bring them to Palawan and Mindoro and eventually, Manila.

“Target opening for Kudat is late 2017,” Pastrana said.

Apart from the Malaysia to Palawan route, he said the company is also looking at opening the Indonesia-DavaoGeneral Santos route.

“We are hoping the two can open before 2018, 2019,” he said.

FastCat is hosting this year’s 41st Annual Interferry Conference, a highly anticipated event in the maritime industry.

This year ’ s conference which will be held from Oct. 15 to 19, is expected to tackle safety practices and technological innovations within the ferry industry as well as help encourage more stakeholders to join the Interferry association especially those from the Asia Pacific region.

Interferry which represents the ferry industry worldwide, currently has over 200 members.