Preamble
WHEREAS, it is necessary for the economic growth and stability of the Philippines to expand exports, conserve foreign exchange and strengthen our international trade and balance of payments position; WHEREAS, in order to make our exports competitive and contain increases in domestic prices of goods, it is important not only to provide adequate and efficient shipping services but also secure reasonable freight rates for our export and import cargoes; WHEREAS, these objectives can be attained through Pooling of homogeneous cargoes for shipment in bulk, efficient vessel chartering, utilization of shipping lines which charge reasonable freight rates and other measures; WHEREAS, Philippine shippers need assistance in effecting cargo consolidation and other means to secure economic carriage of their goods; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the Powers in me vested by the Constitution, do hereby order and decree the following a part of the law of the land: