Categorized | Business

Matson rate hike effective March 27

Matson rate hike effective March 27

Matson has announced it is raising its fuel surcharge by 8.5 percentage points, up from 26.5 to 35 percent for its Hawaii service, effective March 27.

In a press release dated Friday, Feb. 25, the shipping company said the hike is a result of recent increases in fuel costs, caused in large part by unrest in the Middle East,

“Last month, when we announced our first upward adjustment to our fuel surcharge in over a year, we hoped that fuel prices would moderate,” said Dave Hoppes, senior vice president of ocean services. “Instead, just the opposite has occurred. Fuel prices have increased dramatically and have been exacerbated by the current unrest in the Middle East. Bunker fuel prices have recently exceeded $100 per barrel, and are quickly approaching the historic highs last experienced in the summer of 2008.”

“We recognize that record high fuel prices are a concern for many businesses, as well as the average consumer. Unfortunately, transportation companies are especially hard hit, with fuel consumption an unavoidable and significant component of operating costs,” Hoppes said.

Matson’s last fuel surcharge adjustment was an increase of 4.75 percent, set to go into effect Sunday, Feb, 27, 2011.

Last year, Matson dropped its prices 2 percent in July and 3.75 in September.

— Find out more:



Become a fan on facebook

Photos on flickr

Stock Quotes

NASDAQ4403.646  chart+7.442
S&P 5001962.50  chart-2.18
^NYA10913.146  chart-28.193
^TNX2.516  chart-0.016
AAPL95.71  chart+0.675
FB66.17  chart+1.2975
GOOG576.1937  chart+5.0938
INTC31.24  chart-0.02
MSFT41.725  chart+0.04
ORCL40.26  chart-0.06
QCOM80.02  chart-0.41
ALEX41.22  chart-0.56
BOH57.40  chart-0.33
BRN3.03  chart0.00
BYD11.42  chart-0.08
CAGU0.24  chart0.00
CPF19.54  chart-0.17
CYAN4.62  chart0.00
HA13.46  chart+0.18
HCOM29.09  chart+0.22
HE24.8199  chart-0.0001
MLP7.29  chart0.00
MRPI0.0005  chart-0.0001
NNUT0.00  chartN/A
PLFF0.01  chart0.00
TBNK20.57  chart+0.08
TSO59.47  chart+0.54
Jul 11, 2014 / 11:19 am