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Thu 9 Oct 2008, 09:03 GMT

Matson lowers bunker surcharge


Recent drop in marine fuel prices leads to second surcharge decrease in a month.

Matson Navigation Co. has announced that it is decreasing its fuel surcharge for the second time in less than a month following recent declines in bunker prices.

Hawaii's leading ocean shipper has said that it will decrease the surcharge for shipments to Hawaii by 4.5 percentage points, from 37.5 percent to 33 percent. It follows last month's reduction of 4.75 percentage points.

The company said its fee for shipments for Guam and Micronesia will also be lowered by 4.5 percentage points from 39 to 34.5 percent.

Commenting on the decision, Dave Hoppes, senior vice president, ocean services, said in a statement "Matson is pleased to be able make a second decrease in its fuel surcharge in less than a month’s time.

“Following an extended period in which oil costs hit historical record highs, it is encouraging to see this downward trend continue to be reflected in the prices the company is now paying for bunker fuel. While Matson has made a practice of giving 30 days notice of rate adjustments, we are passing this decrease on to our customers as soon as possible so that they can quickly realize the benefits of this reduction during this difficult economic environment,” said Hoppes.

The latest surcharge rates are due to come into effect on October 12th.

Below is a summary of the fuel surcharges announced by Matson since January this year for its Hawaii service.

12/10/2008: 33.00 %

21/09/2008: 37.50 %

31/08/2008: 42.25 %

13/07/2008: 38.25 %

06/04/2008: 33.75 %

04/02/2008: 31.5 %

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