Asia's new cargo shipping hub - the Philippines?

Looks like the state-owned China Ocean Shipping is serious about putting a major transshipping cargo (moving items between ships), shipbuilding and training facility somewhere in the Philippines. Can you say Subic Bay or Sangley Point (both former Navy bases)? Good. I knew you could. This could be a huge stimulus to an economy that needs it, and this project may make a significant rival to Hong Kong and Singapore, both of which are very expensive places to do business.

Before you ask what this has to do with dirt, this would be a $3+ billion project. I'll take a piece of that.

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