Matson increases fuel surcharge
Citing recent increases in bunker fuel prices, Oakland, Calif.-based Matson Navigation Co. said Tuesday it is raising its fuel surcharge in its Hawaii and Guam/CNMI services to 19.5 percent from 17.5 percent, effective March 11.
'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, senior vice president of ocean services in a company news release. '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, a wholly owned subsidiary of Alexander & Baldwin Inc., provides ocean transportation, intermodal and logistics services. It is a major provider of shipping services between the contiguous United States and Alaska, Hawaii and Guam.