PNOC- Shipping & Transport Corporation - Manila, Philippines

The year was 1975. The need to ensure a stable and sufficient supply of petroleum products in the country was cropping up, thus the Presidential Decree 334 was enacted to form the Phillipine National Oil Company (PNOC). Amongst PNOC’s early action plan was to embark on domestic tanker operations upon the acquisition of Luzon Stevedoring Corporation (LuSteveCo), then the nation’s biggest inter-island product transporter.With over 33 tankers,122 tugboats, and 50 bargers, the PNOC responsibly managed and served about 80% of the country’s petroleum marine transport requirement as well as bulk cargoes, tug services and salvage operations.LAYING THE GROUNDWORKRecognizing the necessity to shift the gears towards a more efficient system, PNOC decided to streamline its operations and sold  

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LuSteveCo and its affiliated companies (Transcon, Ideco, Vistranco, Consolidated Terminals, Inc., Sta Mesa Slipways and Cebu Stevedoring Corporation) to private firms; keeping only those facilities that are directly-related with petroleum transport.By virtue of Presidential Decree 927, PNOC established the PNOC Shipping and Transport Corporation.