Mindanao Container Terminal fuel surcharge inches up to 5.4% for Oct 27-Nov 2

The fuel surcharge adjustment (FSA) that Mindanao Container Terminal (MCT) is authorized to impose on applicable port service charges was slightly increased to 5.4% for the period October 27 to November 2, according to the Phividec Industrial Authority (PIA).

Based on the latest available retail fuel price data issued by the Department of Energy for October 20-26, the prevailing retail pump price of petroleum products in Mindanao was P92.60 per liter, higher than the P90 per liter in the previous week.

Under PIA’s approved FSA computation framework, MCT has a fuel cost component equivalent to 6.1% of its authorized tariff. With this, MCT has been authorized to impose an FSA of 5.4% on applicable port service charges for October 27-November 2, subject to the terms and conditions prescribed under the implementing guidelines of PIA Resolution No. 3894, according to PIA FSA Advisory No. 009 dated October 26.

The weekly FSA, which took effect in September, is based on PIA Board Resolution No. 3894 and Department of Transportation (DOTr) Department Order No. 2026-009, which allows port and terminal operators to implement an FSA mechanism to recover higher operating costs arising from rising fuel prices.

This story was originally published by PortCalls Asia. Read the full story at PortCalls Asia →