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
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
Effective from August 1, 2007, Maersk Line is increasing the Bunker Adjustment Factor (BAF) between Mediterranean ports and the United States and Canada. The change follows the higher oil prices. The new bunker surcharges will be: $ 453 (currently $ 399) per 20 ft. container $ 906 (currently $ 798) per 40 ft. container Transatlantic cargo to and from the following countries will be affected: United States, Canada, Russia (via Black Sea ports), Ukraine, Romania, Bulgaria, Kazakhstan
First introduced at the turn of the millennium, MAN PrimeServ – MAN Diesel & Turbo’s service division – recently retrofitted its 20,000th slide fuel-valve. Slide Fuel-Valves Slide fuel-valves come as standard on all new MAN B&W engines but can also be retrofitted on
First introduced at the turn of the millennium, MAN PrimeServ – MAN Diesel & Turbo’s service division – recently retrofitted its 20,000th slide fuel-valve. Christian Ludwig – Head of Retrofit & Upgrade – MAN Diesel & Turbo
As ship owners and operators continue to be pinched by high fuel prices, Alfa Laval says it is raising the bar when it comes to solutions. Drawing on the industry’s broadest portfolio of equipment and knowledge, Alfa Laval is taking a comprehensive approach that promises sweeping advances
Inatech launches its Optimizer to add smart decision making for fuel purchasing to its cloud-based management solution for the entire fuel procurement process. The company explains that Optimizer helps ship operators take the guesswork out of their fuel purchasing decisions by providing real-time
The Society For Gas as a Marine Fuel (SGMF) is launched as new Non-Governmental Organisation to enhance safety and best practices in the use of LNG as a ship fuel. Following a decision to proceed by the Board of Directors of the Society of International Gas Tanker and Terminal Operators (SIGTTO)
Washington State Ferries (WSF) is exploring an option to use liquefied natural gas (LNG) as a source of fuel for the Issaquah Class ferries. LNG is used worldwide and provides an opportunity to reduce fuel costs, and better the environment by decreasing emissions.
In his newly published book, industry expert Nigel Draffin answers the key questions about LNG bunker fuel. The publishers, Petrospot, say that Nigel Draffin answers the key questions about LNG bunker fuel in his usual informative and lucid style
Wärtsila obtained certification of emission standard compliance from the United States Environmental Protection Agency (EPA) for its Wärtsilä 34DF dual-fuel engines. It will enable Wärtsilä to strongly enter the American market with marine engine technology that offers
Container, bulk and tankship owners, Samudera Shipping Line, presents its 2012 financial report with the chairman's letter to shareholders. The following is extracted from Mr. Masli Mulia's letter to stakeholders: "The financial year ended December 31
US-based ESRG adds total vessel power analytics to OstiaEdge to help optimize fuel consumption for a vessel or across a fleet. OstiaEdge® now integrates shaft torque, weather and environmental data, fuel consumption and draft & displacement with its existing equipment performance
Carnival Corporation contracts with JOWA Technology & JOWA WFE for equipment supply, installation & product training throughout its cruise fleet. Carnival representatives believe that the automated fuel switching system by JOWA Technology can save fuel by optimising fuel
GAC Bunker Fuels Limited has announced the opening of its newest office - in Bergen, Norway - in a move to further strengthen its marine fuel and lubricant trading operation across the Nordic region. The Bergen office will be responsible for the trading of all grades of marine fuel and
Former Executive Convicted for Role in Price-Fixing Conspiracy Involving Coastal Freight Services Between the Continental United States and Puerto Rico. Following a two-week trial, a federal jury in Puerto Rico today convicted a former executive of a Florida-based coastal water freight
Emulsified Fuel Tech Earns a Better Rep Matters of fuel use, economy and emissions are “A-List” items on any vessel owner’s agenda, as skyrocketing prices for diesel and a spiraling maze of regulation regarding fuel content and emissions are pressing owners to adopt technical
New device will help combat multi billion dollar global crime. Tracerco, part of the Johnson Matthey group, has developed what it touts to be the world’s first fully portable, lightweight and rugged system to test for tampering in fuel