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 October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

World’s First LNG-Ready Ultra Large Container Ship Named

The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships.

NYK Holds 8th Environmental Management Conference

NYK welcomed about 60 environmental supervisors from 47 NYK Group companies to the group’s annual Environmental Management Conference in Tokyo. NYK holds this

Diana Extends Containership Time Charters

Diana Containerships Inc. announced direct continuation of time charter agreements for m/v Cap Domingo and m/v Cap Doukato   Diana Containerships Inc., a global

Maritime Security

Subsea Defense & the Changing Paradigm of Submarine Programs

Technology and dynamic mission profiles have driven change in the defense industry, Hydro Group Plc Managing Director Doug Whyte, explores the changing paradigm of submarine programs,

Bollinger Delivers 11th FRC to the US Coast Guard

Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard.   The announcement was made by Bollinger Chief Operating Officer,

US Navy Evaluating SEWIP for LCS

The U.S. Navy is evaluating a scaled-down version of the Surface Electronic Warfare Improvement Program (SEWIP) system for potential incorporation on future Littoral Combat Ships (LCS),

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Winch
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: 0.3418 sec (3 req/sec)