Metro Manila, Philippines – The Maritime Industry Authority (MARINA) on Monday, March 30, announced new guidelines for stakeholders on price adjustments to reflect higher fuel costs.
It said shipping operators should observe the weekly required rate adjustment (RRA) that will allow a maximum increase of up to 30 percent from the base rate as of March 27.
The RRA includes the initial 20 percent ceiling set by the regulator.
MARINA said the transport of agricultural products and basic commodities will get priority and subject to the 20 percent limit for rate adjustment.
The advisory stated that operators must inform the regulator and commuters of a rate adjustment at least three days before implementation.
Lower fares are also required if global fuel prices decline, and the advisory to be published as well at least three days before implementation.
MARINA assured the public that it will conduct regular monitoring of freight and passenger rates.
“Failure to adhere to these guidelines or any instance of overcharging beyond the RRA shall be subject to administrative fines and sanctions,” it said.
Shipping companies
Meanwhile, a number of ship operators had announced price increases before the MARINA advisory, including those providing services in Southern Luzon.
FastCat posted an updated fare matrix on March 6.
Starlite Ferries implemented a 25% fare increase on March 10.
Montenegro Shipping Lines raised charges by 10 percent to 20 percent on March 23.
