POSTED: 09:45 a.m. HST, Jul 02, 2013
LAST UPDATED: 11:41 a.m. HST, Jul 02, 2013
The cost to ship goods to Hawaii on the state’s largest ocean cargo transporter will become a bit less expensive Sunday when Matson Inc. implements a slight reduction in its fuel surcharge.
Matson announced today that it will lower its fuel surcharge by 2 percentage points, from 36.5 percent to 34.5 percent because bunker fuel prices have eased.
It is Matson’s third consecutive fuel surcharge decrease, following 3.5 percentage point drops in March and April.
For most customers, the cost to ship a container will decrease by $45 to $80, according to Dave Hoppes, Matson’s senior vice president of ocean services.
Matson’s fuel surcharge rate is adjusted up or down depending on bunker fuel prices, and has fluctuated between 26.5 percent and 47.5 percent over the last two years.
The company’s practice is to reduce the rate as soon as possible after a significant and sustained change in fuel cost, and give 30-day advance notice of planned increases.
Hoppes said in a statement that Matson remains focused on exploring ways to maximize fuel efficiency for its fleet of containerships, and that the company continues to be encouraged by recent moderation in bunker fuel prices.