PPA: Expect freight costs to escalate amid Middle East warMANILA, Philippines — Importers should start pricing in what could be one of the steepest hikes in freight costs in recent history, as the Philippines absorbs the impact of disruptions in the Strait of Hormuz, where some of its energy inputs sail through. Santiago said Philippine oil imports pass through the Strait of Hormuz, so any supply disruption is expected to push up bunker costs and freight rates. Santiago said cargo throughput in domestic ports may decline if importers reduce their orders on higher costs. “There are no direct operational routing issues on our ports, but any disruption will affect freight rates, bunker costs and, eventually, cargo volumes. If freight rates go up, trade volume will drop because of higher transport costs,” he added.

Source: Philippine Star March 02, 2026 16:22 UTC