Matson raising fuel surcharge to 24%
Advertiser Staff
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Matson Navigation Co., the state's largest cargo shipper, said yesterday it will raise the fuel surcharge for its Hawai'i and Guam service by 1.5 percentage points to 24 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, Matson's 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 in annual expenses. We will continue to monitor fuel costs and adjust the fuel surcharge accordingly."
Matson is a wholly owned subsidiary of Honolulu-based Alexander & Baldwin Inc.
Horizon Lines, Hawai'i's No. 2 shipping company, in the past has followed Matson with matching 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, a spokesman for Horizon.
Hawaii Superferry, which is scheduled to begin service next month between O'ahu and Maui, and O'ahu and Kaua'i, is adding on a 30.8 percent fuel surcharge to its fares.