Matson Navigation Company is raising is fuel surcharge by 4.75 percentage points, from 21.75 to 26.5 percent for its Hawaii service, and from 23.25 to 28 percent for its Guam/CNMI and Micronesia service, effective February 27, 2011, Hawai News Now reports.
According to the company, the increase is due to rising fuel related costs. "This is the first increase Matson has made to its fuel surcharge since February 7, 2010," said Dave Hoppes, senior vice president, ocean services. "Unfortunately, fuel prices have been rising dramatically over the past several months, necessitating this new upward adjustment. Fuel costs comprise a substantial component of Matson's operating costs and are an unavoidable expense for transporting goods. Bunker fuel costs are currently approaching the highs last experienced in early 2008, when the company's fuel surcharge was in excess of 30 percent."
Matson's last two fuel surcharge adjustments were downward, with the first decreasing by two percentage points, effective July 18, 2010, and the second decreasing by 3.75 percentage points, effective September 12, 2010.
According to the company, the increase is due to rising fuel related costs. "This is the first increase Matson has made to its fuel surcharge since February 7, 2010," said Dave Hoppes, senior vice president, ocean services. "Unfortunately, fuel prices have been rising dramatically over the past several months, necessitating this new upward adjustment. Fuel costs comprise a substantial component of Matson's operating costs and are an unavoidable expense for transporting goods. Bunker fuel costs are currently approaching the highs last experienced in early 2008, when the company's fuel surcharge was in excess of 30 percent."
Matson's last two fuel surcharge adjustments were downward, with the first decreasing by two percentage points, effective July 18, 2010, and the second decreasing by 3.75 percentage points, effective September 12, 2010.