FastCat operator seeks government help to stay afloat

FastCat operator seeks government help to stay afloat
Richmond Mercurio - April 12, 2020 https://www.philstar.com/business/2020/04/12/2006625/fastcat-operator-se...

MANILA, Philippines — Archipelago Philippines Ferries Corp. (APFC), the shipping company that operates FastCat, is seeking assistance from the government and banks as it strives to stay afloat to keep essential goods moving to different islands in the country.

APFC said it has experienced a 90 percent plunge in sales and operations due to the enhanced community quarantine, which restricted movement of passengers and limited movement of cargo since March 15.

Despite the significant drop of vessel utilization, the firm said FastCat has not stopped servicing the rolling cargo with its frontliners consisting of seafarers, service crew, port staff and head office personnel.

APFC said it is striving to continue being humanitarian in the implementation of labor requirements and paying the salaries of its over 800 employees.

“However, it is hard work balancing this with the current financial situation,” it said.

“FastCat is endeavoring to keep afloat by securing the needs of employees, paying its suppliers, and hoping that banks and government regulators may give some form of assistance by waiving charges and granting tax relief or fixed port fees,” the company said.

As much as it wants to support other government initiatives, APFC said FastCat vessels are roll on/roll off (RORO) vessels that cannot be used as hospital ships as other domestic ferries are doing.

“Hence, FastCat commits to continue to serve and provide FerrySafe, FerryFast and FerryConvenient service to Filipino people by helping in the transportation of essential goods to all the different islands across the country” it said.

“In the absence of aviation, the only means to transport essential goods, such as food products, and medicines, are only by sea or the moving bridges, which is our domestic ferry industry,” APFC said.

APFC said FastCat vessels and crew continue to be stationed at all ports, and operations are maintained, following the strict policy of Maritime Industry Authority and Department of Transportation in ensuring safety of all personnel and passengers.