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
With the North American ECA (Emission Control Area) now in force, Hans Staal, Branch Manager, OW Bunker USA explains the lessons that must be learned and why collaboration within the shipping supply chain is going to be key to meeting new regulatory challenges. Since the outset, the introduction of the North American Emission Control Area (ECA) in August 2012 has been an issue of some concern for many ship owners and operators
To offset the additional cost incurred by switching to cleaner fuels in Emission Control Areas, as required by the new regulation, Maersk Line will introduce a new Low Sulphur Surcharge (LSS). The surcharge will be effective from 1 January 2015 and affect all cargo with load port
The U.S. Federal Maritime Commission (FMC) Commissioner William P. Doyle issued a statement today regarding port congestion, as well as the Transpacific Stabilization Agreement’s (TSA) amendment to expand its scope to include westbound trans-Pacific trade. The full statement is below.
CMA CGM said it will implement a low sulfur surcharge on all its trades in Emission Control Areas (ECAs) and for all cargos as of January 1, 2015. MARPOL Annex VI regulations for the prevention of air pollution from ships assign Sulfur Oxides (SOx) Emission Control Areas (ECA) with more
Matson, Inc., a U.S. carrier in the Pacific, announced its results for the third quarter of 2014, in which it reported a net income of $21.5 million, or $0.50 per diluted share, compared with $17.2 million or $0.40 per diluted share in 2013, while consolidated revenue for the third quarter 2014
Container port congestion has been hitting the headlines recently, but the reasons for it vary widely and in many cases it is only a short term issue. Certain world regions though may be at greater risk of persistent congestion in the longer term
Carrying numbers of passengers, including schoolchildren, far in excess of its license, has cost a Hampshire ferry company £12,340, informs the Maritime and Coastguard Agency (MCA). At Portsmouth Magistrates Court the master, operator and owner of the ferry, Tina Maria
Carrying numbers of passengers, including schoolchildren, far in excess of its license, has cost representatives of a Hampshire ferry company fines and costs totaling £12,340. At Portsmouth Magistrates Court today, the master, operator and owner of the ferry Tina Maria were each charged
Rickmers-Linie has declared its support for the introduction of stricter sulphur regulations but expects that it will inevitably lead to an increase in the cost of marine fuels. “While shipping is already the most environmentally friendly mode of transport
Vessel delays due to the current port congestion in Douala are still causing severe disruptions of service and highly increasing operational costs. The Port Congestion Surcharge effective from August 15th, 2014 will include the Emergency PCS.
The recent decision by Chinese antitrust authorities to block approval of the P3 Ocean Carrier Alliance has increased the demand for Ocean Contract Management. In response, Freightgate is offering free demonstration of its award winning Rate & Tender Management Tariff-Trek! Solution.
CMA-CGM issued an announcement stating it will implement surcharges for all cargo due to port congestion in West Africa. “Considering the deterioration of shipping operations in Douala (Cameroon), Port Gentil (Gabon) and Nouakchott (Mauritania)
Horizon Lines, Inc. has released its financial results for the fiscal first quarter ended March 23, 2014. Excerpts as follows: First-Quarter 2014 Financial Highlights Volume, Rate & Fuel Cost – Container volume for the 2014 first quarter
Leading US carrier in the Pacific Matson report that in the first quarter of 2014 its financial results were negatively impacted by the timing of fuel surcharge collections. Highlights Net Income of $3.4 million versus $9.1 million in 1Q13
Container shipping lines have agreed to raise Asia-U.S. freight rates by $300 per 40-foot container (FEU) to west coast ports of the U.S. and by $400 to all other ports in the U.S from May 15. The increase was agreed by companies in the Transpacific Stabilization Agreement (TSA) which also
The operator of a U.K.-registered containership has been ordered to pay £17,311.01 for breaching oil pollution legislation. The Ever Sigma – operated by Evergreen Marine – was en route from Greece to the Netherlands when 700 liters of heavy fuel oil went overboard