Foreign competition to perk up domestic shipping

A foreign shipping firm has decided to throw its hat into the Philippine domestic shipping arena, which has been plagued for decades with the high cost of doing business, lack of economies of scale and poor port infrastructure. 

This is expected to lower the cost of domestic shipping which has higher than shipping from abroad. 

CNC, the intra-Asia short sea specialist of the CMA CGM Group, announced the launch of a new legal entity named CMA CGM Philippines Shipping, making it the first 100 percent foreign-owned international shipping line to register and operate a domestic service in the Philippines following the government’s expanded regulations permitting foreign shipping lines to venture into domestic shipping.