Some shipping companies have started hiking their freight fees, the Philippine Liner Shipping Association said, noting that the industry is currently in survival mode due to the rising fuel prices.
The agency monitors all shipping operations and exercise regulatory intervention where it is established that “public interest needs to be protected and safeguarded.”“But eventually, we cannot control them,” he added. “But they were not increasing rates because of Marina’s request” in consideration of the coronavirus pandemic.
Fuel accounts for around 40 to 50% of shipping companies’ operating costs, Mr. Parco said. “But then again, shipping lines have different cost structures.”
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