8 shipping firms cut fare

CEBU, Philippines - At least eight shipping companies have agreed to lower their fare by five to 10 percent in compliance with the directive from the Maritime Industry Authority.

Lawyer Jose Cabatingan III, head of the Franchising and Maritime Legal Affairs Section of MARINA-7, said the shipping companies had already filed their downward rate adjustment since last week.

The shipping companies are George and Peter Lines Incorporated, Lapu-Lapu Shipping Lines Corporation, Roble Shipping Incorporated, Lite Shipping Corporation, Danilo Lines Incorporated, Trans-Asia Shipping Lines Incorporated, Cokaliong Shipping Lines Incorporated, and Gabisan Shipping Lines Incorporated.

“These are major shipping companies who filed to lower their passenger fare that is within their regular route” he said.

Maritime authorities earlier urged shipping firms to adjust their fare rates in view of the series of price rollbacks of petroleum products. In an advisory published on December 29, 2014, MARINA urged shipping companies and operators to provide ‘just and equitable’ passenger and cargo rates due to falling oil prices in the local market.

He estimated the downward price rate adjustment provided by shipping firms from five percent to 10 percent.

“Mga five percent to ten percent ang average sa rate reduction sa passenger fare,” he said, noting that passenger rates provided would vary depending on the type of vessel.

“Effectivity of the downward adjustment would be upon the posting of notice of the affected parties,” he added.

The decreased price rate for passenger vessels from George & Peter Lines Inc., TransAsia Shipping Lines Inc. and Cokaliong Shipping Lines Inc. would take effect on February 1 while that of the other five shipping firms would immediately take effect upon posting of their respective notices. – (FREEMAN)