Matson to Increase 2004 Westbound Hawaii Service Rates

Friday, November 14, 2003
Matson Navigation Company, Inc. announced today that it will raise its rates for the company's Hawaii service by $125 per westbound container and $60 per eastbound container, effective January 11, 2004. The increase will be filed with the Surface Transportation Board. In addition, the company will increase its terminal handling charge by $25 per westbound container and $15 per eastbound container, also effective January 11, 2004."This rate increase will help offset rises in contractual operating costs and support a number of investments in our Hawaii service that will deliver value and provide the state with modern, reliable ocean transportation services in the future," said James Andrasick, Matson president and CEO. "This rate increase is consistent with our longstanding philosophy of implementing modest, incremental increases as necessary. Given the essential role ocean transportation has in supporting the state's economic activities, Matson's primary business objective remains focused on ensuring the company's services are among the best in the world," Andrasick further noted that international container rates in the Pacific have risen by $700 per container during the past 12 months.Current investments in Matson's Hawaii service include two new containerships, at a cost $220 million, $90 million in enhancements to the company's ro-ro service, terminal improvements, new container equipment, and greatly enhanced security measures.Historically, Matson has taken across-the-board percent rate increases. The flat fee per container rate increase recognizes that increases in costs and investments tend to be on a per container basis regardless of the commodity that is in a container. Percent increases result in customers shipping higher rated commodities to bear the greatest cost burdens. Matson estimates that this increase will raise rates by an average of 4.4 percent."While we understand that this new charge will affect some businesses more than others, we feel that one uniform increase per container is the most equitable overall approach to address our cost and reinvestment issues," said Andrasick.Matson's last rate increase was 2.9 percent and was implemented in April 2002. No general rate increase was implemented in 2003.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

Container Ship Runs Aground at Fremantle Port

A ship that ran aground at Fremantle Port early Saturday has been refloated. The 62,000-tonne Denmark-registered container ship Maersk Garonne became stuck in soft sand about 500m off South Mole.

Jinhui Shipping Plummets to Loss

Norway listed dry bulk shipper Jinhui Shipping said the tough market that owners faced last year will become tougher in 2015.   Dry bulk shipping market Environment

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

Maritime Security

Sri Lanka Says No to Docking of Chinese Submarines

Sri Lanka declared that it will not allow Chinese submarines to dock in its waters as part of a new policy barring hosting of foreign submarines.   Sri Lanka's

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

Container Ship Runs Aground at Fremantle Port

A ship that ran aground at Fremantle Port early Saturday has been refloated. The 62,000-tonne Denmark-registered container ship Maersk Garonne became stuck in soft sand about 500m off South Mole.

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1053 sec (9 req/sec)