By Ashley Erika O. Jose, Reporter
THREE regional shipping lines are raising passenger and cargo rates by up to 25% following a surge in fuel costs triggered by the closure of the Strait of Hormuz, which pushed global oil prices above $100 per barrel.
While the Philippine Ports Authority (PPA) reported that maritime gateways remain physically operational, the sector is reeling from escalating bunker costs that have forced these companies to revise their fare matrices to offset rising diesel and kerosene prices.
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