Port Charges Up By 10%

Listed port operator International Container Terminal Services, Inc. (ICTSI) has announced the increase in stevedoring and cargo handling charges as per a memorandum circular from the Philippine Ports Authority (PPA).

In a disclosure to the Philippine Stock Exchange, the company said it received a copy of Philippine Ports Authority (PPA) Memorandum Circular No. 12 – 2021 (PPA MC 12-2021), wherein the PPA Board approved the ten percent (10%) tariff increase on stevedoring and cargo handling charges for both Asian Terminals Inc. (ATI) and ICTSI at South Harbor and MICT, respectively,

The tariff increase will be implemented, as follows: Two percent (2%) thirty (30) days after publication of PPA MC 12-2021 in a newspaper of general circulation; and the balance of eight percent (8%) after review and consideration by the Board six (6) months after implementation of the initial two percent (2%) increase.

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