Last week, due to dramatic increases in fuel prices, Matson Navigation Company, Inc. (Matson) announced that it is raising its fuel surcharge from 6.5 to 7.5 percent in its Hawaii and Guam services effective September 15, 2003. "As anyone who drives a car is well aware, fuel prices have been rising steadily in recent months," said Dave Hoppes, vice president, ocean services. "For transportation companies, the costs are especially significant. Matson burns approximately 1.9 million barrels of fuel annually. For every dollar increase per barrel of bunker fuel, Matson experiences an approximate $1.9 million increase in annual operating costs. We cannot continue to absorb these additional fuel-related operating costs. We will continue to monitor fuel costs and adjust the surcharge accordingly." Historically, Matson has adjusted its fuel surcharges up or down based on established trends in oil prices. In May 2003, Matson lowered its fuel surcharge from 7.5 to 6.5 percent, based on a downward trend in fuel prices.
Star Clippers will implement a fuel surcharge on new bookings starting Dec. 17, 2007. The assessment will be $8 per person per day to a maximum of $100 per person on any sailing for guests from the United States, Canada and Latin America. The surcharge will be assessed on all three of the line's tall ships on all sailings through April 2009. "After discussing the situation of increased fuel costs with our tour operators and travel agent partners
BC Ferries explains that due to current world fuel market conditions the company is advising customers that a fuel surcharge will be implemented on the majority of its routes on January 17, 2014. The fuel surcharge will be 3.5 per cent on average on all of its routes with the exception of the Port Hardy - Prince Rupert and Prince Rupert – Haida Gwaii routes which will not be affected. “Market pricing indicates that the price differential will continue throughout the year
Horizon Lines' financial report shows volume improves 3.4%, & rate, net of fuel up 2.9% from a year ago. Sam Woodward, President and Chief Executive Officer comments on third quarter 2012 financial results: "Horizon Lines generated a 3.4% improvement in container volume and a 2.9% increase in container revenue, net of fuel surcharges, for the third quarter, relative to the same period a year ago," said Sam Woodward, President and Chief Executive Officer
British Columbia Ferry Services Inc. (BC Ferries) announced its third quarter results for fiscal 2005/06 with a net loss of $0.9 million for the three months ended December 31, 2005, compared to a net loss of $4.2 million in the same quarter last year. Due to the seasonality of ferry travel, BC Ferries generates higher net earnings in the spring and summer quarters, which are subsequently reduced by net losses in the last two quarters of its fiscal year.
Bloomberg reported that Neptune Orient Lines Ltd. and 11 of the largest shipping companies plying the Pacific Ocean said costs of moving cargo to the U.S. in 2006 will rise 7 percent on higher fuel prices, which may spur them to raise freight rates. The cost of transporting containers by trucks and railways will increase as much as 25 percent, the 12-line Transpacific Stabilization Agreement, whose members ship about 70 percent of trans-Pacific trade, said in a statement today.
Rickmers-Linie, the Hamburg-based global project liner and heavy lift specialist, has announced that it is implementing a Panama Canal Surcharge. It will also be implementing its Bill of Lading Documentation Fee of $55 for all US trades. This change is due to increased documentation requirements. All changes are effective December 1, 2002. The new Panama Canal Surcharge (PCS) has been necessitated by the toll increases imposed by the Panama Canal Authority for vessels passing
CP Ships Limited announced an unaudited first quarter 2003 operating loss of $2 million before exceptional items, a $4 million improvement on the $6 million operating loss in first quarter 2002 and compared with $34 million operating income before exceptional items in fourth quarter 2002. Basic loss per share before exceptional items was $0.12 compared with last year’s first quarter loss per share of $0.14 and fourth quarter 2002’s earnings per share of $0.23 before exceptional items
There is no chance of the United Nations turning a blind eye to any oil companies that pay a surcharge that Iraq is continuing to demand for its oil exports, United Nations diplomats said. "No way are we going to be turning a blind eye to this," one diplomat said when asked if the United Nations could overlook such payments."Industry sources said that Iraq is insisting that customers for its crude under the United Nations oil-for-food program pay a 40 cents per barrel surcharge direct to an
Iraqi oil lifting remained on hold as Baghdad continued to insist on a surcharge for crude sales under the UN's oil-for-food program, industry sources said. A tanker chartered to the Indian Oil Corp (IOC) remained berthed at Iraq's Mina al-Bakr port on the Gulf but that no oil was being pumped aboard. An industry official in India said that IOC had been asked to pay a surcharge outside the terms of the UN exchange in order to secure its cargo but had refused. Iraq suspended 2
Vessel operators seek protection by hedging fuel needs. It’s easier than you might think. Some workboat operators defend themselves against higher diesel prices by buying futures contracts, while others purchase fuel at prices fixed in advance from their suppliers
According to engine control and instrumentation specialists CMR Group, significant fuel savings can be achieved by diesel engine owners and marine vessel operators using the world’s first commercial high horsepower diesel fuel quality sensor.
Suez Canal tolls will rise for the third straight year by as much as 2.6% with effect from 1, May 2014 for all vessels inform the Suez Canal Authority. In addition, a container stack surcharge for North-bound ships has been increased. In addition the surcharge for North-bound container ships
With high profile carriers agreeing to continue a voluntary low-sulphur fuel switch while at berth in Hong Kong, the issue of emission controls is once again in the headlines. Stepping into this arena, Videotel has launched a new training course, The Practical Management and Switching of Fuels
The charity Beauchamp Lodge Settlement has been ordered to pay £3,330 in fines and costs after pleading guilty to operating a passenger vessel in London without a valid Passenger Certificate, the U.K. Maritime and Coastguard Agency reported.
Beginning on February 2, 2014 Alaska Marine Lines (AML) said it will utilize a different method for calculating fuel surcharge related to pick up, delivery and trucking in the Lower 48 and Alaska. Prior to this change AML has charged the same FSC for trucking and barge transportation
Many shipping lines and suppliers are examining options to meet existing and future pollution regulations, part of MARPOL, which sets limits on NOx and SOx emissions. Nano Fossil Fuels Technology has a solution for these emission problems: the Nano Fuels Combustion Catalyst
CMA CGM announced a peak season surcharge from all Asian ports (including Japan, South East Asia and Bangladesh) to West Mediterranean, Adriatic, East Mediterranean, Black Sea and North Africa. The surcharge, which will take effect January 6, 2014, is $300 (USD) per TEU (Dry cargo, OOG’S
Power Service Products, a producer of diesel fuel additives, launched a website for boat owners at home or at sea: MarineDieselAdditives.com. By EPA mandate, boat owners are required to use Ultra Low Sulfur Diesel (ULSD) fuel, where the sulfur content has been lowered to no more than 15 parts
The skipper of a former fishing vessel has been ordered to pay £3,825 in fines and costs after pleading guilty to firing rocket distress flares when not in need of immediate help. A red distress rocket flare was fired just before the boat torch light procession at this year's Salcombe
“We have completed a series of experiments studying and measuring the ability of a novel catalyst to constructively modify commercial gasoline and diesel fuel. This catalyst has the ability to selectively remove hydrogen and/or add oxygen to hydrocarbon components of fuel
The skipper of a racing yacht has been made to pay over £100,000 in fines and costs after colliding with a 120,000 ton oil tanker in the Solent. Roland Wilson of Perthshire, Scotland was today found guilty on three counts of breaching international maritime law at West Hampshire
Wärtsilä has now released its Wärtsilä 20DF dual-fuel engine for sale in the US market. The engine meets the strict emissions compliance criteria of the United States Environmental Protection Agency (EPA) Tier 4 and is now available to American ship owners and operators
At a hearing today at Truro Magistrates Court, the owner of a tanker paid a total of £22,500 in fines and costs after pleading guilty to a breach of U.K. maritime pollution legislation. On February 25, 2012 a satellite operated by European Maritime Safety Agency (EMSA) detected a ship
Oceanfoil, the maritime technology company developing aerofoil technology, announced the formation of partnerships with naval architects Owen Clarke Design LLP and University College London’s Energy Institute (UCL-Energy). Oceanfoil will work with naval architects Owen Clarke Design LLP