MANILA, Philippines — Archipelago Philippines Ferries Corp. (APFC), the shipping company that operates FastCat, is on track with its fleet modernization with the arrival of its latest internationally-classed roll-on roll-off ferry.
The arrival of the FCM15 brings APFC’s vessel fleet to 13, in line with its target of 30 vessels by next year.
APFC said the new vessel has added safety and convenience features such as a dedicated accommodation area, upgraded engines, and higher seating capacity of 360.
The new FCMI5 is set to serve the route of Batangas-Calapan, an addition to an existing vessel operating in the area.
“With the interest and welfare of the Filipinos in mind, FastCat will continue to modernize its fleet to offer a safe, fast and convenient travel experience,” APFC said.
“New routes will also be introduced, to help boost local business and tourism and eventually uplift the lives of the Filipinos and contribute to the overall economic development of the country,” it said.
Prior to the arrival of the FCM15, FastCat has 12 vessels plying nine routes nationwide,mostly servicing the eastern and western part of the central corridor.
The vessels serve some three million passengers annually.
Once its fleet target of 30 vessels by 2020 is achieved, the company would be able to serve some 10 to 11 million passengers.
Its revenues are also expected to more than double to about P5 billion from the current P2 billion once all the 30 vessels start to operate by 2021.
APFC inked in December last year a P1.8-billion loan agreement with the Philippine National Bank (PNB) for the construction of five new ferries.
The five new ferries form part of FastCat’s modernization drive of having 30 vessels by 2020, which requires a total investment of $240 million.