Matson cuts fuel surcharge
It's the first decrease since November 2001
Matson Navigation Co. said yesterday it will cut its fuel surcharge by 1.5 percentage points, to 19.75 percent from 21.25 percent, effective Oct. 1.
The decrease in shipping costs for customers will range from $30 to $100 per container and applies to Matson's routes covering Hawaii, Guam, the Northern Mariana Islands and Micronesia.
"Matson is pleased to finally make a downward adjustment to our fuel surcharge, after a year of dramatic hikes in fuel prices," said Dave Hoppes, senior vice president, ocean services.
"While fuel costs remain at historic highs, we have seen some relief in the past month, allowing us to make this reduction."
In June, Matson and Horizon Lines Inc. increased their fuel surcharges to 21.25 percent from 18.5 percent.
Before that, they raised the surcharge from 15 percent in April.
Horizon said yesterday it was evaluating Matson's latest move. It has historically followed Matson's lead.
The last time Matson cut its fuel surcharge was in November 2001, when it cut the rate by 1 percentage point, or nearly one-fourth, bringing it down to 3.25 percent, according to Jeff Hull, the company's director of public relations.
Matson started adding fuel surcharges to freight bills in June 1996 to help offset increasing bunker fuel costs.