Matson’s fuel surcharge on the rise
Honolulu-based Alexander & Baldwin Inc., parent of Matson Navigation Co., said Friday it will raise the ocean carrier’s fuel related surcharge in its Hawaii and Guam/Commonwealth of the Northern Mariana Islands (CNMI) services from 24 percent to 26 percent, effective Dec. 2.
“We are experiencing record highs in fuel related costs that are being driven by unprecedented demands for oil in the world market,” said Dave Hoppes, A&B’s senior vice president, ocean services.
“These costs comprise a large component of operating costs for the transportation industry, and are unavoidable expenses for transporting goods, both on land and at sea. The recent spikes have been unusually dramatic in an already volatile period, and are anticipated to continue through the end of the year. We will continue to monitor fuel costs and adjust the fuel surcharge accordingly. This marks the first adjustment we’ve made to our surcharge in four months. Fuel costs have increased over 10 percent since our last adjustment.”