Matson lowers its fuel surcharge to 18.75%
The decrease follows a dip in bunker fuel costs
For the second time in a month, Matson Navigation Co. plans to lower its fuel surcharge on shipping that serves Hawaii, Guam, the Northern Mariana Islands and Micronesia.
The state's largest ocean shipper said yesterday it will cut its fuel surcharge by 1 percentage point to 18.75 percent from 19.75 percent effective Nov. 5. The reduced amount will save customers shipping costs ranging from $20 to $67 per container.
On Oct. 1, Matson dropped its surcharge to 19.75 percent from 21.25 percent.
"Bunker fuel prices continue to decrease, allowing us to make this second consecutive reduction to our fuel surcharge," said Dave Hoppes, Matson senior vice president, ocean services. "Following a year of rapidly escalating fuel costs, we're pleased to finally experience this downward trend."
The last time Matson had cut its fuel surcharge was in November 2001 when it cut the rate by 1 percentage point, or nearly one-fourth, to 3.25 percent. The shipper's surcharge then rose over time as energy prices soared.
Horizon Lines Inc., which typically matches Matson and lowered its surcharge to 19.75 percent on Oct. 2, said yesterday it was reviewing Matson's decrease.
Pasha Hawaii, which ships vehicles between Southern California and Hawaii, in May doubled its fuel surcharge to 18.5 percent from 9.2 percent.
Reggie Maldonado, general manager of Pasha Hawaii, noted yesterday that its 18.5 surcharge is still below that of its competitors but didn't indicate whether Pasha would be making any adjustments.