Aznar Shipping sets sail for next phase of growth

MANILA, Philippines — Cebu-based shipping operator Aznar Shipping Corp. is setting sail on its next phase of growth, with the company expressing plans to significantly expand its operations in the next couple of years and eventually become “IPO-ready.”

In a media briefing, Aznar Shipping president and CEO Kyle Alexander Aznar said the company looks to continue sustaining its growth momentum, while expanding and modernizing its fleet at the same time.

Within the next five years, the company intends to make significant investments to add three vessels to its current fleet of 10.

It also plans to expand its routes to more areas in the Visayas.

“We are very bullish on the Visayas. That’s where we see most growth and most potential. Numbers in Visayas are very promising,” Aznar said.

Aznar, meanwhile, said there are no plans for the company to go public at present.

“It’s not something we’re planning. But I would say since we are focused on corporate governance, it’s really a key pillar in how we want our company to be run. I think the gold standard for corporate governance is a public company, right?” Aznar said.

“We don’t plan to go public but we want to be IPO-ready. We want to reach that standard. We want to set that standard for our people and our company,” he said.

Aznar Shipping, a regional shipping company that operates roll-on/roll-off vessels and landing craft tanks serving major islands in the Visayas, reported a net income P51.78 million and revenue of P225 million in 2025.

In the first quarter, Aznar said the company’s net income grew to nearly P17 million, with revenue reaching P81 million.

“Because of the fuel crisis, of course we have to adjust some of our targets. Despite the more difficult environment with higher inflation and higher fuel prices, we were not affected. We were able to improve the volume even. So moving forward, I am still optimistic we can maintain or even improve our volume,” Aznar said.

Aznar Shipping currently operates across six ports and serves three major routes promoting inter-island trade and connectivity.

The company has been granted pioneer route status by the Maritime Industry Authority for its brand-new MV Alexander Aznar I vessel certified by the International Association of Classification Societies (IACS) for the Danao, Cebu–Isabel, Leyte route and vice versa.

Aznar said the deployment of MV Alexander Aznar I forms part of the company’s broader strategy to strengthen short-haul, high-frequency route operations across the Visayas, where reliable maritime transport remains essential to trade, tourism and everyday mobility.

Through the IACS-class vessel, Aznar Shipping is strengthening its ability to serve the growing movement of people, vehicles and goods between Cebu and Leyte.

“As the Visayas continues to grow, inter-island shipping will remain crucial in connecting key growth centers. Our goal is to continue serving as a sea bridge for the region by investing in vessels and routes that support safer travel, stronger cargo movement and more reliable connectivity,” Aznar said.