Matson to hike fuel surcharge
Matson Navigation Co. announced that it will increase its fuel surcharge by 4.5 percentage points due to rising bunker fuel prices and other energy related costs, Saipan Tribune reports.
Fuel surcharge for the CNMI and Guam services will increase from 35.5 percent to 40 percent, while the Hawaii service will rise from 39 percent to 43.5 percent.
The new fuel surcharge, which will take effect on Oct. 7, comes after two consecutive decreases in June and July, which totaled 6.5 percentage points.
“While we were encouraged by the moderation of bunker fuel prices earlier this year, that trend has been reversed in recent months,” Dave Hoppes, Matson senior vice president for ocean services, said in a statement.
According to Hoppes, bunker fuel prices climbed by over 13 percent since Matson's last decrease in fuel surcharge mid-July.
“Energy related expenses continue to be a significant cost factor for most businesses, as well as consumers, with transportation companies especially hard hit,” said Hoppes, adding that Matson gives its customers 30 days advance notice prior to implementation of the new fuel surcharge rates.
Matson remains the only company offering ocean transportation services in the Commonwealth after Horizon Lines Inc. discontinued in October 2011 its Five Star Express container shipping service. The westbound leg of the FSX service provides transit between the U.S. West Coast, Guam, Micronesia, and the Northern Mariana Islands.
