Preamble
WHEREAS, under Presidential Decree No. 806, a general policy was adopted that Philippine flag vessels shall have at least equal shares as vessels of another country in the carriage of international cargo between the Philippines and that other country; WHEREAS, Presidential Decree No. 894 was promulgated under the general policy adopted in Presidential Decree No. 806 with the objective of enabling Philippine flag air carriers and vessels to carry government and government-financed or supported cargoes and passengers ; WHEREAS, the use of the words "Philippine flag' shipping lines" in Presidential Decree No. 894 has created confusion as to the real meaning thereof; WHEREAS, there is a need to amend Presidential Decree No. 894 as to conform to the definition of Philippine flag vessels under Presidential Decree No. 806; Now, therefore, I, Ferdinand E. Marcos, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree as part of the laws of the land: