Matson fuel rate lowered third time
The cuts will lower customer costs from $25 to $80 a container
Falling bunker-fuel prices have prompted Matson Navigation Co. to lower its surcharge for the third time in four months on service to Hawaii, Guam, the Northern Mariana Islands and Micronesia.
Matson said yesterday it will slash its fuel surcharge by 1.25 percentage points to 17.5 percent from 18.75 percent on Sunday. Previously, the subsidiary of Alexander & Baldwin Inc. cut its surcharge to 18.75 percent from 19.75 percent on Nov. 5 and to 19.75 percent from 21.25 percent on Oct. 1.
"Bunker fuel prices continue to decrease, allowing us to make this third consecutive reduction to our fuel surcharge," said Dave Hoppes, senior vice president, ocean services, for Matson. "Following an extended period of rapidly escalating fuel costs, we've been encouraged by this recent ongoing downward trend."
The reductions will lower customers' shipping costs from $25 to $80 a container, Matson said.
"We will continue to monitor fuel costs and adjust the fuel surcharge accordingly," Hoppes said. "While fuel prices remain volatile, we are hopeful this current trend will continue."
Horizon Lines Inc., the second largest ocean shipper in the islands behind Matson, typically follows its rival and matched Matson's two previous decreases. Mar Labrador general manager and vice president of Hawaii and Guam for Horizon, was at a meeting on the mainland yesterday and couldn't be reached for comment. Horizon's fuel surcharge is currently 18.75 percent.
Reggie Maldonado, general manager of Pasha Hawaii, said the company was looking at the situation and hadn't made a decision yet. Pasha Hawaii, which ships vehicles between Southern California and Hawaii, currently has a fuel surcharge of 18.5 percent.