3 Monkey Bay is 206 kilometres (128 mi) from Lilongwe, Malawi's capital. 2 The population of Monkey Bay was 14,955 according to the 2018 census. The town is on the shore of Lake Malawi and is one of the main ports on Lake Malawi. The Philippines Defence Secretary Delfin Lorenzana had previously advocated for the navy to take over the shipyard to save jobs and protect national security.Īccording to a source with knowledge of the deal who was not authorised to speak to media, the navy will lease a third of the 300-hectares (741.32 acres) facility from Cerberus for its own base. Monkey Bay or Lusumbwe is a town in Mangochi which is in the Mangochi District in the Southern Region of Malawi. Activity in the shipbuilding facility, where Hanjin employed 20,000 workers, is expected to restart this year, she added. navy base until 1992.Ĭerberus will buy the shipyard for $300 million and parts of it will be leased to locators, said Rosario Bernaldo, an administrator for the facility. The bay northeast of the capital Manila, was home to a U.S. The shipyard, which was run by Hanjin Philippines before it defaulted on loans worth $1.3 billion in 2019, is considered an important asset because of its shelter, depth and access to the South China Sea. In 2019, at least eight foreign companies had expressed interest in the shipyard including two unidentified Chinese firms.Ĭhina has overlapping territorial claims in the South China Sea with several countries including the Philippines, which has repeatedly protested Chinese actions to expand its presence in the trade route that services $3 trillion of commerce each year.
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