Americas News
Matson Decreasing Fuel Surcharge
Plunging oil prices have prompted Hawaii-based shipping company Matson, Inc. to lower its fuel surcharge by five percentage points, the company announced.
The price cut will apply to its Hawaii and Guam/CNMI services, with Hawaii routes seeing a decrease to 37.5 percent from 42.5 percent while Guam/CNMI will decline to 38 percent from 43 percent.
"We are pleased to be able to make this downward adjustment to our fuel surcharge, which for most customers represents a reduction in shipping costs ranging from $100 to $175 per container," said Dave Hoppes, Matson's senior vice president of ocean services.
"We have been encouraged by the recent moderation in bunker fuel prices, and remain focused on diligently exploring ways in which we can maximize fuel efficiency for our fleet."
The changes will be effective November 2, 2014.
"Matson has made a practice of giving 30 day notice for upward rate adjustments, but passes on downward adjustments to our customers as soon as possible," said Hoppes.
Matson said that it would continue to monitor fuel costs and adjust the fuel surcharge accordingly.
The company reported earlier this year that its first quarter profits had plunged 63 percent year-over-year after changing the timing of bunker surcharge collections.
