Categorized | Business

Matson decreasing fuel surcharge by 2 percentage points


As a result of continuing moderation in bunker fuel prices, Matson announced today that it is decreasing its fuel surcharge by two percentage points, from 42.5% to 40.5% for its Hawaii service, and from 44% to 42% for its Guam/CNMI and Micronesia service, effective Oct. 9, 2011.

This is third downward adjustment Matson has made since late August.

A two percentage point reduction became effective Aug. 28, followed by a three percentage point reduction Sept. 25.

With this latest adjustment, the fuel surcharge will have been decreased by 7 percentage points in a six week period.

“We are pleased to be able to pass along this third consecutive decrease, which for most customers represents a reduction in shipping costs ranging from $60 to $105 per container,” said Dave Hoppes, senior vice president, ocean services.

“The cost of bunker fuel, which is the type of fuel consumed by most ocean carriers, rose faster over the past year than crude oil and has been slower in experiencing declines in prices; fortunately, bunker fuel prices have moderated recently, allowing us to make this third decrease,” Hoppes said. “Matson has made a practice of giving 30 days notice for upward rate adjustments, but as with previous decreases, we are passing on this downward adjustment to our customers as soon as possible. We will continue to monitor fuel costs and adjust the surcharge accordingly.”

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