Updated at 2:27 p.m., Tuesday, February 20, 2007
Matson to raise fuel surcharge to 19.5% on March 11
Advertiser StaffMatson Navigation Co. announced today it is raising its fuel surcharge from 17.5 percent to 19.5 percent on March 11 because of recent increases in bunker fuel prices.
The increase follows three surcharge decreases since October.
"While Matson experienced steady declines in fuel prices in late 2006 and early 2007, allowing us to make three consecutive downward adjustments, current trends have increased our fuel costs by over 15 percent," said Dave Hoppes, Matson senior vice president of ocean services. "Fuel consumption is an unavoidable and significant component of our operating costs, with every dollar increase per barrel adding over two million dollars in annual expenses. We will continue to monitor fuel costs and adjust the fuel surcharge accordingly."