The Maritime Industry Authority (MARINA) has announced that some shipping companies are likely to raise their rates.
According to MARINA administrator Robert Empedrad, in the first two years of the Coronavirus Disease 2019 pandemic, they asked shipowners not to raise their rates first, which they also complied with.
But a series of oil price spikes in recent months has had a big impact on their business.
He said the oil price hikes are a big blow to their spending because it is 40 to 50 percent of their operational cost.
Up to P25 to P50 will be raised in the rates of some companies.
–However, they will continue to appeal to those who will increase their rates not to make it 100 percent immediately because it will also affect passengers.
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