Manila to cut port fees

Manila to cut port fees

MANILA (Reuter): The Philippines had agreed to halve port fees charged to vessels plying the East Asean Growth Area (EAGA), the presidential palace said yesterday.

Based on a presidential memorandum signed on June 19, port dues would be reduced to $0.020 per gross tonnage from the previous $0.040 for ships plying the area.

The rate reduction was based on an initial agreement between Philippine and Indonesian officials who wanted to adopt a uniform tariff for ships plying the ports of the EAGA which groups Brunei and provinces in Indonesia, Malaysia and the Philippines.

The tariff cuts were designed to boost shipping activities within the area, the palace statement said.