Filipino lines and yards seek $200m stimulus package

Filipino shipping lines and shipbuilders have asked the state for a massive PHP10bn ($200m) in stimulus aid.

“The shipping companies requested for an economic stimulus, which was presented by the Department of Transportation to Congress. They requested PHP10bn to provide for shipping companies and shipyards [in order] to recover from their huge losses. We’re hoping that the Congress will release the funds,” Maritime Industry Authority (Marina) administrator Robert Empedrad said during a recent press briefing.

The Philippines has been going through one of the longest – and most strict – lockdowns during the coronavirus pandemic, something that has brought many industries to a standstill in recent months.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button