Read this in The Manila Times digital edition.
LORENZO Shipping Corp. (LSC) said fuel prices continuously increased along with high inflation, resulting in a gross loss of P20.28 million in the first half of the year.
LSC continues to pursue freight recovery and cost rationalization efforts. The gross loss stems largely from the increase in direct cost due to soaring vessel fuel costs and other related expenses, such as trucking, tugging and pilotage.
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