U.S. Navy Rear Admiral Stuart Munsch (C), commander of Task Force 74, speaks during a news conference after the opening ceremony of Cooperation Afloat Readiness and Training (CARAT) Philippines 2014, a U.S.-Philippines military exercise, at Subic Bay, north of Manila June 26, 2014. Also pictured are Philippine Navy Fleet Commander Rear Admiral Jaime Bernardino (L) and U.S. Navy Captain Paul Schlise, commodore of Destroyer Squadron 7. REUTERS/Erik De Castro (PHILIPPINES - Tags: MILITARY MARITIME)