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Fajardo replaces Ecarma as BOC deputy commissioner

Fajardo replaces Ecarma as BOC deputy commissioner

May. 24 | President Rodrigo Duterte has appointed Philippine Drug Enforcement Agency (PDEA) assistant secretary Jesus Fajardo as deputy commissioner of the Bureau of Customs (BOC). Fajardo’s appointment paper was signed on May 21 and released on May 24. He will...

Port of Manila district collector’s hands-on approach boosts port efficiency, collections

Port of Manila district collector’s hands-on approach boosts port efficiency, collections

May. 20 | Bureau of Customs-Port of Manila district collector Atty. Erastus Sandino Austria believes increased operational efficiency results in faster transactions, a more conducive business setting at the bureau, efficient revenue collection, and diminished corruption. Putting...

PPA releases new schedule for higher cargo-handling tariff at Manila ports

PPA releases new schedule for higher cargo-handling tariff at Manila ports

May. 20 | The Philippine Ports Authority (PPA) order follows the issuance of PPA Memorandum Circular No. 07-2018 that approved the 7% increase in vessel and cargo-handling charges for international containerized and non-containerized cargoes handled at Manila South...

Lorenzo Shipping reports bigger net loss in Q1

Lorenzo Shipping reports bigger net loss in Q1

May. 20 | Philippine domestic liner Lorenzo Shipping Corporation (LSC) posted a widened net loss of P71 million in the first quarter of 2018 compared to its P64 million net loss in the same period last year. The wider net loss comes after the shipping company...

CAB doc stamp tax now costs twice as much

CAB doc stamp tax now costs twice as much

May. 20 | The Civil Aeronautics Board (CAB) has increased the rate of documentary stamp tax for the certificates it issues with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law. CAB officer-in-charge Porvenir Porciuncula, in an advisory...

2GO rebounds from loss with P40.9M profit in Q1

2GO rebounds from loss with P40.9M profit in Q1

May. 20 | 2GO Group, Inc. posted a net income of P40.910 million in the first quarter of 2018, a reversal from the P264.863 million loss in the same period last year. Revenues for the period covered increased 11% to P5.37 billion from P4.85 billion in the first...

LBC net profit soars 147% as logistics sales rise

LBC net profit soars 147% as logistics sales rise

May. 17 | LBC Express Holdings, Inc. (LBC) reported a net income of P563.821 million in the first quarter of 2018, which is 147% higher than the P227.926 million earned in the same period last year. Service revenues likewise increased 12% to P2.751 billion for...

ICTSI income slips 15% in Q1

ICTSI income slips 15% in Q1

May. 10 | International Container Terminal Services, Inc. (ICTSI) reported a 15% drop in net income attributable to equity holders to $44.1 million from $51.7 million year-on-year, attributed by the port operator to “drag from the new terminals”. The decline...

Cargo-handling charges at Manila ports up 7% starting June 5

Cargo-handling charges at Manila ports up 7% starting June 5

May. 9 | The 7% upward adjustment in international containerized and non-containerized cargo charges takes effect on June 5. Photo of Manila International Container Terminal courtesy of operator International Container Terminal Services, Inc. The Philippine Ports...

More logistics firm, ATI personnel charged over unlawful release of 105 alerted shipments

More logistics firm, ATI personnel charged over unlawful release of 105 alerted shipments

May. 8 | The Bureau of Customs (BOC) has filed supplemental complaints with the Department of Justice (DOF) against more individuals in the unauthorized release of 105 alerted containers from the Port of Manila in view of the additional evidence gathered by its...
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