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Logistics firms hike prices, mull electrification amid rising fuel costs

Singapore

RISING fuel prices have become untenable for some logistics companies in Singapore, with several now passing on the costs to clients so as to retain margins.

The smaller players, in particular, said fuel contributes to about a third of their operating costs. In recent days, they have seen fuel costs go up in the range of 15-30 per cent.

Bok Seng Logistics' chief executive officer Dave Ng said his company has started hiking the prices for some services. "We have to pass on some of the increase in costs to the end-users. Fuel prices will continue increasing as oil majors are not producing more. This is a very difficult period, costs are increasing everywhere and we're still trying to live...

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