A new Maersk Tankers-managed MR product carrier has suffered extensive damage in a collision off the Philippines with a Latsis-controlled bulker.

The Philippine Coast Guard (PCG) said the incident involved the 50,000-dwt tanker Rich Rainbow (built 2021) and the 56,000-dwt supramax Ivy Alliance (built 2011).

It occurred on Wednesday night three nautical miles (5.5 km) north of Cavite City at Manila's anchorage area, authorities said.