Matson to Raise Fuel Surcharge for Hawaii, Guam and Micronesia Services

Tuesday, June 17, 2008

With fuel related costs reaching historical highs, Matson Navigation Company announced today that it is raising its fuel surcharge for its Hawaii service by 4.5 percentage points, from 33.75 to 38.25 percent, and its Guam/CNMI and Micronesia services by 6 percentage points, from 33.75 to 39.75 percent, both effective July 13, 2008. This is the first adjustment Matson has made to its fuel surcharge since April 6, 2008. While Matson has traditionally applied the same percentage fuel surcharge to all of its Pacific service, it is implementing a new program that recognizes that there are greater fuel requirements in serving the more geographically remote regions of Guam and .
In order to offset the impact of record breaking fuel prices, Matson has diligently explored ways to maximize fuel efficiency for its Pacific services. For example, when possible, Matson has slowed the speed of its containerships without adversely impacting its schedule reliability; reduced speed during ocean transit is a very effective means of lowering fuel consumption. In addition, Matson has temporarily removed one vessel from its service to best meet current market conditions. While this action requires triangulating one ship every other week between , and , resulting in minor service changes for its customers, the related fuel cost savings during the past several months has allowed the company to delay implementing increases to its fuel surcharge despite the volatility of the world oil market. Matson also operates its four newest diesel powered containerships in its Long Beach/Hawaii/Guam service, utilizing the most fuel efficient vessels in its fleet.Matson will continue to monitor its fuel costs and related consumption. If there is no moderation in the escalation of energy prices, the company may be required to make future adjustments to the current fuel surcharge.

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

People & Company News

Jacques R. Saadé Visits the CMA CGM Columba

During the CMA CGM Columba call in Beirut, Lebanon, on August 19, Jacques R. Saadé, CMA CGM Group's Chairman and Chief Executive Officer, visited the 11,400 TEU ship.

Reliance to Source Ethane from US

India's Reliance Industries Ltd said it will source 1.5 million metric tons of ethane a year from the United States as feedstock for its crackers in India. The

Dredge Yard to Participate in Latin American Congress of Ports

Dredge Yard announced it will for the first time participate in the Latin American Congress of Ports that will be held in less than a week in Puerto Iguazú in Argentina.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction
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: 0.2501 sec (4 req/sec)