SBMA to cut port fees

MANILA, Philippines–The Subic Bay Metropolitan Authority (SBMA) will cut port fees to encourage more firms to use the Subic port.

Given the new rate reduction scheme, it is foreseen that it will result to revenue losses of $10 million to $15 million for the agency. The SBMA said in a statement on Wednesday that these losses represented the difference between the existing harbor and berthing fees and the reduced rates that will be implemented over a six-month period, starting in October 1.

According to Roberto Garcia, SBMA chairman, the agency is set to reduce the harbor fee at Subic’s New Container Terminal to $0.008 per gross register tonnage (GRT) from $0.046 per GRT and the berthing fee to $0.004 GRT, daily from $0.0345 per GRT a day.

“We hope to recoup the losses in the long run, as we are also doing this to encourage new lines to come over, as well as to show our appreciation to existing shipping lines that had stuck with Subic in all its lean years,” added by Garcia.

The rate reduction is expected to help establish Subic as an alternative port together with Batangas. This is seen to help ease the congestion at the Port of Manila.

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