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Boat
fares to and from Cebu hiked effective Monday.
The
three players, Oceanjet, Supercat and Weesam agreed to increase
their fares effective last Monday amid reports that the companies
operating the inter-island fast sea crafts have been losing
by the millions over the past three years.
For
Oceanjet and Weesam, the round trip fare to Cebu is now P575,
instead of P560 while a one-way ticket is P375, instead of
P360 or an increase of Pl5.
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SuperCat
adopted another fare scheme which is P425 for one-way
and an additional of P215 for a return trip.
The
increase in boat fares was expected after the riding
public expressed fears that these shipping firms will
stop operation due to the continued losses it incurs
over the years.
Reports
reaching the Chronicle bared that the three companies
agreed to simultaneously increase their fares.
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It
maybe recalled that a foreign-based company which used to
field fast sea crafts declared bankruptcy years ago after
its annual income can no longer support its operations. This
came as an offshoot of a "price war" among shipping
companies during the years when the industry leader used to
be Supercat with Water Jet, Sea Angels and Bullet Express
as the competitors.
A
major slash in their fares to maintain their market share
resulted to the closure of Water Jet and the pull out of Sea
Angels and Bullet Express, which both concentrated in the
Bacolod-Iloilo route.
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