Manila, Philippines – Several shipping companies have already announced their fare adjustments as the conflict in the Middle East continues.
Starting March 23, Montenegro Shipping Lines will implement a 10%-20% fare adjustment for passengers and vehicles, depending on the distance of their destinations.
Following this, Fastcat and Roble Shipping Inc. also announced fare matrix last week.
Starlite Ferries reportedly has no other option but to impose a 25% surcharge on cargo fees, while passenger fares will increase slightly or as partial fare adjustments, effective March 10.
On March 11, Lite Ferries will implement passenger and cargo surcharge rates.
Although OceanJet has not implemented a fare increase, they temporarily released an alternative schedule for their passengers from March 10 to March 20, in accordance with the Maritime Industry Authority (MARINA) advisory that a contingency plan has been created.
Meanwhile, MARINA stated that all shipping companies have the right to impose additional charges on fares due to the ongoing conflict in the Middle East.
However, any fare adjustment plans must first be approved by MARINA two weeks prior to implementation.
There should also be sufficient dissemination of information by shipping companies to their passengers at least two weeks before the fare increase takes effect.
Notices should be posted in affected ports, shipping company premises, passenger terminals, or any place where passengers can easily see or be informed of the fare adjustments.
MARINA also added that shipping companies should immediately revoke any upward increase in passenger and cargo fares once fuel prices drop along with the easing of tensions in the Middle East.
It should be recalled that last week, MARINA was the first to release contingency measures that may be followed by all those in the Maritime Industry.
These include trip consolidation to save on operating costs, changes in schedules, and other measures to reduce energy costs and logistics expenses.