More shipping companies to lower fare rates

By: Michelle Joy L. Padayhag January 28,2015 - 03:03 PM

Expect more shipping companies to reduce fares in the coming weeks, the Maritime Industry Authority (Marina-7) said.

Jose Cabatingan, Marina-7 spokesman, said their central office issued a directive requiring all shipping companies last year to lower their fares due to the series of oil price rollbacks.

As of 9 a.m yesterday morning, there were nine shipping companies that sent their notice of fare adjustments to the Marina-7 office.

Cabatingan said there’s no need for a public hearing and no petition needed to be filed on the fare rate adjustments.

He said there’s no uniform rate for the adjusted fares because maritime transportation is deregulated unlike land transportation.

“It also varies on the accommodation of the passenger vessel,” Cabatingan said. The Marina-7 spokesperson said shipping companie  have no fare increase due to competition since 2009.

The first shipping company that sent their notice for fare adjustments was George and Peter Lines. They were followed by Lapu-Lapu Shipping Corp., Roble Shipping Inc., Lite Shipping Corp., Danilo Lines Inc., Trans Asia Inc., Cokaliong Shipping Lines Inc. Gabisan Shipping Lines Inc., and Medallion Transport.

Cabatingan said most shipping companies will start implementing the adjustment of fares next month. He said Lapu-Lapu Shipping Corp. implemented the adjustments immediately.

“What we are monitoring for the fares of shipping companies are only within the region,” he said.  Cabatingan said they’ve been monitoring at least 20 shipping companies in Central Visayas.

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TAGS: fare rate, fuel, shipping

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