Matson raising fuel surcharge to 27.5%
Matson Navigation Co. said it will raise its shipping fuel surcharge next month for the first time since July, and it cautioned that further hikes could be in store if fuel prices continue to rise.
The state's largest shipping company said the fuel surcharge will increase by 3.5 percentage points to 27.5 percent for its Hawai'i service effective Feb. 7.
In addition to the increase for its Hawai'i service, Matson is also hiking the surcharge on its Guam/CNMI and Micronesia service to 29 percent from 25.5 percent.
The company notified customers in a letter that went out yesterday that said the increase was a result of rapidly rising fuel-related costs.
"As many of our customers are aware, fuel prices have risen dramatically in recent months," said Dave Hoppes, Matson senior vice president of ocean services.
"This is the first fuel surcharge increase Matson has initiated since July 2009."
The company's last adjustment was a decrease of 4 percentage points in October.
He said fuel costs are an unavoidable expense for transporting goods.
"We are hopeful that fuel prices will begin to moderate," he said. "However, if they do not decline soon, Matson will need to make further upward adjustments."