FIRST TIME IN 45 YEARS!
The scarcity of cargo vessels calling on Philippine ports has disrupted production schedules of companies that depend on imported components for their production lines (e.g., the electronics industry). It has also caused delays in the importation of the country’s essential goods such as rice, foodstuff, and construction materials.
And here is the good news — the Department of Trade and Industry (DTI) and the Maritime Industry Authority (Marina) have worked decisively to relieve the logistics woes of our importers and exporters. For the first time in 45 years, a container ship under the Philippine flag will make an international voyage to the United States. Not only will this ease the plight of our exporters, it is a precursor for an honest to goodness Filipino international cargo line going international.
Iris Logistics, Inc., a subsidiary of Philippine logistic giant, Royal Cargo, has invested in a fleet of three carrier vessels with a 1,100 TEU capacity, the largest in the country. On Sept. 23, the MV Iris Paoay made its inaugural voyage to Los Angeles.
This is a milestone in Philippine maritime history. Why? Because the prospect of having a Filipino international cargo line will free us from dependence on foreign shipping lines. Shipping costs will significantly drop for Filipino traders thereby improving their margins. More significantly, our exporters will no longer be subjected to oppressive destination charges (exorbitant add-on fees) which are unilaterally levied upon local importers by foreign shipping lines.
Read:
https://bit.ly/3kEtJz3#EmergingPhilippines
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