Manila terminals to raise tariff by 15%
Ports operator Asian Terminals Inc (ATI) said today that the Philippine Ports Authority has approved a 15 percent increase in tariffs for international containerised and non-containerised cargo handled at two of Manila's harbours, reported Dow Jones Newswires.
Asian Terminals operates the container port in South Harbour while International Container Terminal Services Inc (ICTSI), also a listed port operator, operates at the Manila International Container Terminal.
Asian Terminals said the tariff increases would come in two tranches, with the first hike of eight percent to take effect on July 16, 30 days after the publication of the PPA's order on June 16. The second tranche of seven percent will be implemented six months after the imposition of the first tranche.
