Updated at 3:46 p.m., Friday, July 20, 2007
Matson raising fuel surcharge 1.5 percentage points
Advertiser Staff
Matson Navigation Company, the state's largest cargo shipper, said it will raise the fuel surcharge for its Hawai'i and Guam service to 24 percent from 22.5 percent, effective Aug. 19.Matson said the increase is a result of recent increases in fuel prices and other energy-related costs.
"The cost of fuel has been on the rise again, increasing to near record-high levels," said Dave Hoppes, senior vice president, ocean services.
"Fuel consumption is an unavoidable and significant component of our operating costs, with every dollar increase per barrel adding over $2 million dollars in annual expenses. We will continue to monitor fuel costs and adjust the fuel surcharge accordingly."
Horizon Lines, Hawai'i's No. 2 shipping company, in the past has followed Matson with similar fuel surcharge increases.
"As with any surcharge change within our industry, once it is officially filed we will take a look at its competitive impact" said Ku'uhaku Park, Horizon spokesman.
