World News
Matson Makes Further Drop to Bunker Surcharge
Pacific shipping company Matson Monday announced in an emailed statement that it will further reduce its bunker surcharge, lowering it by four percentage points on its Hawaii, Guam/CNMI, and Micronesia services.
"We are pleased to be able to make another downward adjustment to our fuel surcharge, which for most customers represents a reduction in shipping costs ranging from $80 to $140 per container," said Dave Hoppes, Matson's Senior Vice President for Ocean Services.
Bunker surcharges for Hawaii will become 31.5 percent, while Guam falls to 32 percent and Micronesia to 37 percent.
The move is Matson's third consecutive decrease in bunker adjustment surcharges for services in the region since October 2014.
"Our fuel surcharge for [Hawaii and Guam/CNMI] services will have dropped 11 percentage points since November 2, 2014" when the reduction takes effect on Sunday, January 18, said Hoppes.
"We continue to be 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."
Hoppes added that Matson "passes on downward adjustments to our customers as soon as possible" and said the company would continue to monitor movements in the bunker price.
Ship & Bunker today reported a Jefferies analyst has said container shippers are the "biggest beneficiaries" of falling bunker prices, although others suggest reductions in bunker surcharges will mean the benefit to box shippers will be limited.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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