Lite Shipping Corporation, is a Cebu-based shipping line,[1] that operates the Lite Ferries, a brand consisting of a fleet of 28 ships. The corporation has its origins from Bohol, and is the flagship company of Lite Holdings, Inc.[2] At present, the corporation also owns and manages Danilo Lines, Inc. and Sunline Shipping Corporation.
History
The company was a wholly owned subsidiary of Lirio Enterprises, Inc., a general trading firm doing business nationwide. It started as a shipping division of the mother company in the middle of 1988 when it bought two vessels, the M/V ''Sto. Niño de Soledad, a 500-ton DWT capacity steel-hulled vessel and the M/V Sto. Niño'', a wooden hull 200-ton capacity vessel. Initially, the cargo loaded was mostly goods traded by Lirio Enterprises, Inc. like salt, rice, cement, fertilizers, sugar, etc.[3] Sometimes they would accept other cargoes for backload when the occasion demands it. This shipping division was spun off as a separate shipping corporation in July 1989 when the Philippine Securities and Exchange Commission approved the