Crystal Cruises Announces 2007 Fuel Surcharge
Crystal Cruises has announced that, due to the continual rising cost of fuel, and the impact on Crystal Cruises’ daily operations, effective July 17, 2006, the cruiseline will institute a fuel surcharge of $5.00 per person, per day on all 2007 voyages. The cruiseline will protect any 2007 bookings that are made and paid prior to July 17, 2006, at the current fare, without the fuel surcharge. There will be no change to the current fuel surcharge of $4.00 per person, per day that is currently in effect for all 2006 voyages.
Matson Decreases Fuel Surcharge by One Percentage Point
As a result of recent declines in bunker fuel prices, Matson Navigation Company will lower its fuel surcharge in its Hawaii, Guam/CNMI and Micronesia services by one percentage point, from 19.75 percent to 18.75 percent, effective November 5, 2006. "Bunker fuel prices continue to decrease, allowing us to make this second consecutive reduction to our fuel surcharge," said Dave Hoppes, senior vice president, ocean services. We will continue to monitor fuel costs and adjust the fuel surcharge accordingly. While fuel prices remain volatile, we are hopeful this current trend will continue."
Alaska Marine Lines Lowers Fuel Surcharge
Alaska Marine Lines has filed with the Surface Transportation Board to decrease the fuel surcharge from 31% to 29% on shipments to, from and within Central Alaska and Prince William Sound locations. The line has also filed to decrease the fuel surcharge from 14% to 7% on shipments to, from and within Southeast Alaska. The decreases will become effective on January 25, 2015. Alaska Marine Lines said it will continue to monitor fuel prices on a daily basis and will adjust the fuel surcharge when necessary.
Matson Raises Fuel Surcharge
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.
Port of Houston- Fuel surcharge Increase
Effective March 17, 2005 local barge companies in the port of Houston will increase their fuel surcharge to 20% of all bunker delivery freight charges. Harbor fees, tariffs, demurrage and other fees, applicable to the bunker delivery, will not be subject to this fuel surcharge. This pass through cost will apply to any new bunker orders delivered by Chemoil March 17th or later.
Matson to Raise Fuel Surcharge for Hawaii, Guam and Micronesia Services
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 .
Alaska Marine Lines Reduces Fuel Surcharge
Alaska Marine Lines, a marine transportation company providing barge service to and from Alaska and Hawaii, informs it has filed with the U.S. Surface Transportation Board to decrease the fuel surcharge from certain locations as a result of fluctuating fuel costs. Effective September 6, the line’s fuel surcharge will be reduced from 29 percent to 28 percent on shipments to, from and within Central Alaska and Prince William Sound locations
Matson Lowers Fuel Surcharge
Continuing decreases in bunker fuel prices has prompted Matson to drop its fuel-related surcharge by 4 percentage points. Matson announced it will lower its fuel surcharge for service to Hawaii, Guam, the Commonwealth of the Northern Mariana Islands and Micronesia, effective Sunday. The decrease takes the surcharge from 35.5 percent to 31.5 percent for its Hawaii service, from to 36 percent to 32 percent for Guam/Commonwealth of the Northern Mariana Islands service and from 41 percent to 37 percent for Micronesia service, the company said.
B.C. Ferries Fuel Costs, Fares Rise
Passengers on British Columbia's ferry routes will be paying a little more starting next month, as the latest fuel surcharge takes effect. The province's ferry commissioner has approved a surcharge of 1.5 percent on the major routes between Vancouver Island and the Lower Mainland - and three percent on all other routes. The fare boost follows an earlier fuel surcharged levied last July - four percent on major routes and six percent on the smaller runs. According to CBC News, the commissioner noted that fuel prices in the second half of 2005 were significantly higher than forecast when that increase took effect. Passengers could face another surcharge this June, if current fuel price forecasts hold up. B.C.
US Inland Waterway Transportation Outlook
With consumers increasing their spending as the economy recovers, and manufacturers likewise boosting their production, demand for inland water transportation will get a boost. Additionally, rising fuel costs will lead to operators earning more money from fuel surcharges. However, the industry will experience some turbulence from rail transport providers, which are often seen as cheaper, faster and more environmentally friendly. For these reasons, industry research firm IBISWorld has added a report on the Inland Water Transportation industry to its growing industry report collection. The Inland Water Transportation industry dipped as the economy sank into recession. Over the past couple of years, consumers have decreased spending, and manufacturing industries have decreased production.
Star Clippers to Implement Fuel Surcharge
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, we have concluded the fairest and least disruptive method of assessing the surcharge would be only on new reservations made on or after Dec. 17," said Jack Chatham, Star Clippers' vice president of marketing and sales for North and Latin America.
BC Ferries to Implement Fuel Surcharge
BC Ferries explains that due to current world fuel market conditions the company is advising customers that a fuel surcharge will be implemented on the majority of its routes on January 17, 2014. The fuel surcharge will be 3.5 per cent on average on all of its routes with the exception of the Port Hardy - Prince Rupert and Prince Rupert – Haida Gwaii routes which will not be affected. “Market pricing indicates that the price differential will continue throughout the year,” said Mike Corrigan, BC Ferries’ President and CEO.
Alaska Marine Line Alters Fuel Surcharge
Beginning on February 2, 2014 Alaska Marine Lines (AML) said it will utilize a different method for calculating fuel surcharge related to pick up, delivery and trucking in the Lower 48 and Alaska. Prior to this change AML has charged the same FSC for trucking and barge transportation. The cost of fuel for trucking can vary greatly compared to ocean transportation. AML trucking services are primarily provided by contracted owner/operators. According to AML, the inland fuel surcharge more closely reflects the amount it pays for the trucking service that is purchased on behalf of its customers. The Inland FSC will be adjusted weekly using the Federal Energy Information website to determine fuel price.
Discovery Lowers Fares and Fuel Surcharges
Discovery Cruise Line, which offers daily ferry service with cruise line amenities between South Florida and Grand Bahama Island except Wednesdays, announced that it is lowering its fares and fuel surcharge. Hanns J. Hahn, General Manager of Discovery, said that "Effectively immediately and at least through January 3, 2009, the fare for a same day roundtrip Fun Day Cruise has been reduced to just $39.99 per person and the price of a two day, one night Cruise N Stay Staycation has been reduced to only $89.99 per person. In effect, two are sailing for the previous price of one." Hahn said that "In addition, we have lowered the fuel surcharge by $10 to $19 per person.
Matson Raises Fourth Quarter Outlook
Matson, Inc. said it holds a higher operating income outlook for the fourth quarter 2014, citing higher than expected freight rates and volumes as well as declining bunker fuel prices leading to gains. The company also made preliminary comments regarding its outlook for 2015, stating it anticipates flat to higher income for the coming year. Matson said it expects fourth quarter 2014 ocean transportation operating income to be approximately $45 million primarily driven by higher than expected freight rates in its China service and continued rate and volume growth in Hawaii and Guam.
Cruise Co. Sued Over Fuel Surcharges
Attorney General Bill McCollum filed a lawsuit against a Broward County cruise ship company for failing to adequately disclose fuel surcharge fees. According to the lawsuit, Imperial Majesty Cruise Line LLC has collected approximately $4m in fuel surcharges from late 2006 to present. The company, which offers two-day cruises to the Bahamas, is also accused of falsely representing those fees as governmental taxes or fees. Consumer complaints indicated that when travelers arrived to board the ship they were charged the surcharge, even though it was not, in any way, mandated by any governmental entity. Many consumers first learned of the $20-$30 surcharge only when they arrived to embark on their cruise.
New York Barge Rate Increase
Given the recent tariff increase by bunker barge operators in New York, Chemoil advises that it will begin charging the following rates for any deliveries on or after Oct 15, 2004. Quantity (MTS) Rate 1 - 565 4,800.00 Flat 566 - 653 $8.50/MT 654 - 1025 $5,550.00 Flat 1026 - 1716 $5.41/MT 1717 - 2300 $9,300.00 Flat 2301 - 2493 $4.05/MT 2494 - 3400 $10,100.00 Flat Over 3400 $2.97/MT Boom Fee $410.00* * Effective August 10, 2004 All deliveries will have an additional fuel surcharge rate of 12%.
APL: New Fuel Surcharge to Reflect Slow-steaming
Container shipping line APL has announced a new fuel surcharge formula in the Trans-Pacific Trade that reflects the financial impact of slow-steaming, the industry-wide practice of reducing vessel speed to reduce fuel consumption, control costs and reduce emissions. The new formula results in a somewhat lower bunker surcharge, effective July 1, 2011, than would have been assessed under the previous formula which was based on a guideline from the Transpacific Stabilization Agreement. The surcharge for a standard 40-foot standard container shipped from Asia to the U.S. West Coast drops to $538 from $568. The surcharge for a standard 40-foot standard container shipped to the U.S. East Coast drops to $1,049 from $1,107.
Matson Q1 2014 Profits Slip, Market Growth Expected
Leading US carrier in the Pacific Matson report that in the first quarter of 2014 its financial results were negatively impacted by the timing of fuel surcharge collections. Matt Cox, Matson's President and Chief Executive Officer, commented, "Our businesses performed as we anticipated in the first quarter of 2014, driven by sustained demand in our core markets and continued freight rate strength in all of our markets. And while the timing of fuel surcharge collections significantly impacted financial results during this quarter…
Horizon Lines Report Container Volume, Revenue, Up in Q3 2012
Horizon Lines' financial report shows volume improves 3.4%, & rate, net of fuel up 2.9% from a year ago. "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. "Volume increases in Hawaii and Alaska offset volume weakness in Puerto Rico. However, third-quarter adjusted EBITDA of $27.0 million declined by $6.0 million from a year ago, largely due to $4.6 million of incremental transit and crew costs associated with dry-docking three Puerto Rico vessels in China.
Cheaper Fuel to Boost Container Shipping
Lower oil prices are sharply reducing the cost of shipping merchandise from Asia to the United States and Europe as the cost of bunker fuel tumbles. Container shipping companies deal with the volatility in fuel prices by adding a separate bunker adjustment factor or fuel surcharge to their freight rates. Fuel can account for more than 60 percent of the total operating costs of moving freight across the oceans so the surcharges are one of the most important elements of total transportation costs.
Lake Michigan Ferry Raises Fuel Charge
Cars now can ride cheaper on the Lake Express ferry, according to a Associated Press report, but there is a catch. The cost of transporting a vehicle from Muskegon to Milwaukee is dropping from $59 to $40 during August. But the discount only applies to the 11 p.m. departure out of Muskegon. Passengers who earlier reserved vehicle spaces on these runs at the higher price will receive refunds for the difference. The ferry is also charging passengers a higher fuel surcharge on their tickets. That additional fee went up July 26th from $1.25 to $3.
Rickmers-Linie Supports Low Sulphur Regime, Expects Cost Hike
Rickmers-Linie has declared its support for the introduction of stricter sulphur regulations but expects that it will inevitably lead to an increase in the cost of marine fuels. “While shipping is already the most environmentally friendly mode of transport, the new regulations help to further reduce the impact on the environment and our health,” said Ulrich Ulrichs, Chief Executive Officer of Rickmers-Linie. The new regulations come into effect on January 1, 2015 in the Emission Control Areas (ECA) in the U.S. and Canada as well as the North Sea, English Channel and the Baltic Sea.