More Matson Rates to Increase

Posted by Michelle Howard
Tuesday, November 26, 2013

Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Guam/Commonwealth of the Northern Marianas Islands (CNMI) and Micronesia services by $275 for both westbound and eastbound containers, effective January 26, 2014. The increase will be filed with the Surface Transportation Board and the Federal Maritime Commission. The rate increase also applies to the Commonwealth of the Northern Marianas Islands, the Republic of Palau, the Federated States of Micronesia and the Republic of the Marshall Islands. In addition, Matson will raise its West Coast terminal handling charge by $75 for both westbound and eastbound containers, also effective January 26, 2014.

"This is Matson's first rate increase for Guam/CNMI and Micronesia in three years," said Dave Hoppes, senior vice president, ocean services. "During that time, our operating costs have continued to rise, necessitating this adjustment.

The increase will also support ongoing investments in our service to the region. Matson continues to diligently look for ways to operate the most efficient, cost effective service possible, without undercutting our standards of quality. In the past decade, Matson has invested nearly $1 billion in four new containerships, fleet enhancements, new container equipment, information technology and upgrades to its terminal facilities. Earlier this month, the company announced that it is investing $418 million in two new 3,600 TEU containerships that will be deployed in our Hawaii service and will transport Guam cargo from the U.S. West Coast to Honolulu. Matson remains committed to continuing to provide Guam and Micronesia with a modern, reliable ocean transportation infrastructure."

Matson's terminal handling charge was first implemented in 2003 and is designed to recover a portion of the costs associated with the movement of cargo through terminals. This charge is standard in the industry and appears as a separate line item at the bottom of the company's freight bills.

"Terminal handling costs comprise over 40% of Matson's operating costs," said Hoppes. "Matson continues to absorb most of the costs associated with terminal operations, the majority of which are driven by factors that are outside of our control, but needs to pass on some of the expenses to our customers."

 

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

People & Company News

Wärtsilä Reports Healthy Ship Power Sector in Q1 2014

In its interim financial report January to March 2014 Wärtsilä notes healthy development in ship power and services offsetting challenges in power generation markets.

No Lift for Konecranes as Q1 2014 Profit Slips

Finnish crane maker Konecranes on Thursday reported a 32-percent fall in its core quarterly operating profit amid slow demand and tight competition. January-March 2014 operating profit,

GulfMark Offshore Records Highest Ever Q1 Revenue

Houston-based GulfMark Offshore President & CEO Quintin Kneen commented on his company's first quarter 2014 financial report: "We recorded our highest first quarter revenue ever,

News

Mitsui O.S.K. Ship Ready To Leave Chinese Port

Japanese shipping firm Mitsui O.S.K. Lines Ltd said on Thursday that its ship, the "Baosteel Emotion" 226,434 deadweight-tonne ore carrier, is ready to leave

Body Of Korean Boy Who Raised Alarm On Sinking Ferry Found

The body of a South Korean boy whose shaking voice first raised the alarm that a passenger ferry with hundreds on board was in trouble has been found, his parents believe,

UASC Introduces New Asia - Europe Network

UASC has introduced its new Asia – Europe Network with three new services (AEC1, AEC3, AEC4), and two enhanced services (AEC8, AEC9). These services will broaden

Logistics

No Lift for Konecranes as Q1 2014 Profit Slips

Finnish crane maker Konecranes on Thursday reported a 32-percent fall in its core quarterly operating profit amid slow demand and tight competition. January-March 2014 operating profit,

GAO: Limited Commercial Arctic Development Foreseen

Decreasing seasonal sea ice has opened up Arctic waters for longer periods with resulting potential economic opportunities in commercial shipping, cruises, commercial fishing, oil, and mining.

Brokers Marcon Conclude Ocean Deck Barge Sale

Marcon International, Inc. of Coupeville, Washington says that Pacific Coast Maritime, Inc., Seattle, Washington, a subsidiary of Harley Marine Services, Seattle,

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1455 sec (7 req/sec)