Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

DoTr’s Bautista urges PPA to lower shipping, travel costs

by
July 7, 2022
in Investing News
0
DoTr’s Bautista urges PPA to lower shipping, travel costs
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter

TRANSPORTATION Secretary Jaime J. Bautista urged the Philippine Ports Authority (PPA) to work towards reducing the cost of shipping and travel, ahead of the appointment of the agency’s new leader.

“As we wait for the appointment of your General Manager, which will happen in the next couple of days, please make sure to further reduce shipping and travel costs nationwide and maintain the high quality of service in all ports,” Mr. Bautista said during a surprise visit to the PPA on Thursday.

Mr. Bautista promised to support the PPA in achieving government-to-government interconnectivity, information and communication technology, staffing, and compliance with global best practices for port administrators.

He added that the PPA will play its part in achieving the government’s goal of providing accessible, affordable, comfortable, and safe transportation.

The PPA said it is due to complete another seven seaport projects in the next 100 days, geared towards improving inter-island connectivity.

“Prior to the appointment of Secretary Bautista to the Department of Transportation, the PPA completed about 248 seaport development projects which form part of the 586 completed seaport projects under the previous Transportation Secretary. The projects were designed to increase productivity, and capacity and modernize the facilities of the ports to offer comfort and convenience to travelers and shippers,” the PPA said.

The statement comes as business executives take note of rising shipping costs.

Industrial designer Kenneth Cobonpue said during The Chiefs on One News program on Wednesday that cargo shipping rates have risen significantly.

“In terms of exports, shipping, logistics (are) a big problem. Before, a 40-foot (container) shipping from Cebu to Los Angeles used to cost $3,000. Now the price is anywhere from $15,000 to $18,000. That price really wipes out all the margins. That’s the problem with exports,” Mr. Cobonpue said.

“It’s very hard to book a container and that’s a problem. I really think (the shortage is) artificial. All the shipping companies have consolidated… There are only three big shipping companies left… the shipping industry (also) announced record profits over the past two years. It started with the pandemic but now there should be no problem with trade, but the shipping prices are still high and now they blame it on fuel,” he added. — Revin Mikhael D. Ochave

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
Diokno signals Finance dep’t studying carbon tax feasibility

Diokno signals Finance dep’t studying carbon tax feasibility

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Buy to Let landlords are essential to UK PLC and government mustn’t suffocate them with red tape

Buy to Let landlords are essential to UK PLC and government mustn’t suffocate them with red tape

June 10, 2022

Cost of living crisis ‘a bigger threat to firms than pandemic’

June 6, 2022
Sustaining productivity in a world of hybrid work

Sustaining productivity in a world of hybrid work

August 17, 2022
Spain seals Euro last-eight clash with England after win over Denmark

Spain seals Euro last-eight clash with England after win over Denmark

July 17, 2022
Hong Kong considers shorter COVID quarantine for travelers

Hong Kong considers shorter COVID quarantine for travelers

July 5, 2022
Pelosi visits Japan after Taiwan trip sparked outsized military drills by Beijing

Pelosi visits Japan after Taiwan trip sparked outsized military drills by Beijing

August 5, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.