MV Lorcon Iloilo Rescues 4 Locals Stranded at Sea

MV Lorcon, a cargo ship managed by Lorenzo Shipping Corporation (LSC), successfully rescued four stranded locals–a preacher, two fishermen, and 1 baker–after strong winds caused damage to their motorboat (bangka).

The locals left Naujan, Oriental Mindoro at around 1351H last March 6 for a religious mission in Marinduque. Mr. Godofredo Gan, a local preacher, was part of the group. Unfortunately, due to bad weather and rough seas, their motorboat sustained a hole in the hull where water entered and filled their boat.

While MV Lorcon’s underway to Manila, crew members heard the distressed shouting and asking for help from the four survivors. Without hesitation, the Master instructed the crew members to rescue and aid the stranded locals who are seen clinging on the other side of their vessel to keep themselves afloat.

Capt. Manuel Diamante, Master onboard MV Lorcon Iloilo, shared that he’s very proud with the displayed bravery of his entire crew during the rescue sea operation. He also thanked Capt. Rodolfo Gerance, who was also onboard during the rescue operation, for the turnover of command.

After the successful rescue, the four locals were accommodated by MV Lorcon. crew and provided all necessities such as food, water, blankets and dry clothes, as well as given immediate medical attention. They were then officially turned over to the Philippine Coast Guard (PCG) Manila.

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Driven by We Care and Enthusiasm, MV Lorcon crew members’ malasakit and sigasig during these critical times is a great example of how Magsaysay People (MPs) truly honor and live the Magsaysay values.

As a token of appreciation, Magsaysay Shipping and Logistics (MSL) and LSC management awarded a plaque for their courage and granted cash bonuses to the entire MV Lorcon crew.

Lorenzo Shipping Corporation Holds Annual Stockholders’ Meeting

Lorenzo Shipping Corporation (LSC), held its Annual Stockholders’ Meeting last Friday, June 25th – the second time the publicly listed company held the meeting virtually (online, via remote communication) in light of the COVID-19 global pandemic and in support of measures to prevent its spread.

Led by Doris Magsaysay Ho, Chairperson of LSC, with Reynold John Madamba, President of LSC, the meeting highlighted the presentation of the company’s Management Report and the approval of its Audited Financial Statements for 2020 as well as the nomination of directors and appointment of external auditor for 2021.

“Lorenzo Shipping Corporation had to shift gears to adapt to the new challenge at hand. On top of the strategies that focused on recovery, we also had to map out a game plan for resiliency,” shared by the LSC President in his management report.

“In addition to its Board of Directors, key stockholders and proxies representing them, the meeting was attended by Magsaysay Shipping and Logistics’ Jesse Maxwell, Chief Executive Officer; and LSC’s Amelita Intalan, Chief Finance Officer; Jay Olivares, Chief Compliance Officer; Atty. Christine Villegas, Corporate Secretary; and Atty. Ruby Reyes, Assistant Corporate Secretary.

Elected as Directors for this year’s Board are: Doris Magsaysay Ho, Antony Marden, RJ Madamba, and Michael Escaler and Independent Directors Deogracias Vistan, Rene Buenaventura, and Virgilio Peña. The auditing firm SyCip Gorres Velayo & Co. was nominated as external auditor.

After the Annual Stockholder’s Meeting, the newly elected Board of Directors conducted their first Board meeting.