Hawaii’s largest ocean cargo transportation company, Matson Inc., plans to dial down its fuel surcharge Sunday, rolling back most of an increase it instituted five months ago.
FUEL COSTS FALL
Matson Navigation Co. surcharges over the past six years:
| Jan. 28, 2007 |
17.5% |
| March 11, 2007 |
19.5% |
| May 6, 2007 |
20.75% |
| May 27, 2007 |
22.5% |
| Aug. 19, 2007 |
24.0% |
| Dec. 14, 2007 |
29.0% |
| Feb. 4, 2008 |
31.5% |
| April 6, 2008 |
33.75% |
| July 13, 2008 |
38.25% |
| Aug. 31, 2008 |
42.25% |
| Sept. 21, 2008 |
37.50% |
| Oct. 12, 2008 |
33.0% |
| Oct. 19, 2008 |
27.0% |
| Nov. 2, 2008 |
25.0% |
| Nov. 16, 2008 |
19.5% |
| Nov. 30, 2008 |
15.0% |
| May 24, 2009 |
16.5% |
| June 21, 2009 |
20.0% |
| July 5, 2009 |
28.0% |
| Oct. 4, 2009 |
24.0% |
| Feb. 7, 2010 |
27.5% |
| July 18, 2010 |
25.5% |
| Sept. 12, 2010 |
21.75% |
| Feb. 27, 2011 |
26.5% |
| March 27, 2011 |
35.0% |
| May 1, 2011 |
43.5% |
| June 12, 2011 |
47.5% |
| Aug. 28, 2011 |
45.5% |
| Sept. 25, 2011 |
42.5% |
| Oct. 9, 2011 |
40.5% |
| Feb. 26, 2012 |
45.5% |
| June 17, 2012 |
42.0% |
| July 15, 2012 |
39.0% |
| Oct. 7, 2012 |
43.5% |
| March 17, 2013 |
40.0% |
|
Matson announced Tuesday that it will reduce its fuel surcharge by 3.5 percentage points, to 40 percent from 43.5 percent, for its Hawaii service.
That translates to a savings of $80 to $140 on the cost to ship a container for most customers, the company said.
The move follows a 4.5 percentage point increase that took effect in October.
Matson said recent moderation in bunker fuel prices prompted the decrease.
"We are pleased to make this downward adjustment to our fuel surcharge," Dave Hoppes, Matson’s senior vice president of ocean services, said in a statement. "We have been encouraged by the recent moderation in bunker fuel prices, and remain focused on diligently exploring ways in which we can maximize fuel efficiency for our Hawaii and Guam services."
The fuel surcharge for Matson’s Guam service, as well as its service for Micronesia and the Commonwealth of the Northern Mariana Islands, is at 40 percent, and will be reduced to 36.5 percent as part of the adjustment.
The 40 percent rate for Hawaii compares with rates over the past two years that ranged from 26.5 percent to 47.5 percent.
Matson said its practice is to institute fuel surcharge decreases as soon as possible after a significant and sustained change in bunker fuel prices, while giving 30 days’ notice to customers for increases.
The company over the past six years has adjusted the surcharge anywhere from three to 10 times in a year.
Horizon Lines Inc., the state’s second-largest ocean carrier, typically matches Matson but would not comment Tuesday.
Pasha Hawaii Transport Lines, which began transporting containers last year between Honolulu, Maui, Hilo and San Diego to complement its auto-shipping business, indicated it would have something to say about its fuel surcharge today.
