• SBMA urges shipping lines to capitalize on co-loading law

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    THE SUBIC Bay Metropolitan Authority (SBMA) is calling on shipping lines to take advantage of the co-loading law to cut costs and improve efficiencies.

    Signed in June 2015, Republic Act (RA) 10668 is “an act allowing foreign vessels to transport and co-load foreign cargoes for domestic transshipment and for other purposes.”

    Utilizing the benefits of the co-loading law will help raise the competitiveness levels of the country’s exporters and importers within a dynamic trading business environment, SBMA Chairman Martin Diño said over the weekend.

    “The co-loading law will allow ships calling at one destination to load or unload goods bound for another domestic port. This scheme is seen to help businesses cut their costs and save time,” he said.

    So far, only two shipping lines making port calls at the Subic Bay International Terminal are taking advantage of the co-loading law.

    “We hope more shipping lines will use this advantage. This is not only for businesses but also for consumers of the transported goods,” Diño said.

    “We know that transportation costs play a huge part in pricing commodities and other goods, which means if we can help cut costs in transporting these products then it is highly probable that consumers will benefit in the end,” he added.

    “We have a highly competitive port here in Subic and doing business here is an advantage, especially for businesses in Northern Luzon because the infrastructure has already been laid and is fully functional,” he noted.

    “We have a technically advanced port here in Subic that just recently completed its first container freight station and not every port in the country has that,” he added.

    Diño said businesses in Northern Luzon should consider Subic Bay as the gateway to international trade.

    “The shipping lines that make port calls in Subic can bring their goods all over the world, and it would cost them even less,” he said.

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