Shipping costs may rise by as much as 25%, industry group warns
Arjay L. Balinbin March 8, 2022 https://www.bworldonline.com/shipping-costs-may-rise-by-as-much-as-25-in...
SHIPPING COSTS may rise as much as 25% as global oil prices continue to skyrocket amid the Ukraine-Russia conflict, according to an industry group.
Philippine Liner Shipping Association (PLSA) President Mark Matthew F. Parco said that fuel is usually 40% to 50% of vessel cost.