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Matson Inc., the state’s largest ocean shipper, said Thursday it will raise the fuel surcharge for its Hawaii service by 3 percentage points to 42.5 percent next month to cover increases in fuel prices and other energy-related costs.
The surcharge increase, the second hike in three months, is effective June 8 for shipments between the West Coast and Hawaii. Matson also is raising its fuel surcharge for its Guam/Commonwealth of the Northern Mariana Islands and Micronesia service by 1.5 percentage points to 43 percent.
"Since announcing our last increase, which became effective March 23, 2014, Matson’s fuel costs have continued to rise," said Dave Hoppes, senior vice president, ocean services. "A major contributor to our increase in fuel consumption has been a number of additional vessel sailings necessary to meet the service requirements of our customers."
The extra voyages mean that Matson faces increased costs to comply with the Emission Control Area regulations that became effective in August 2012, Hoppes said.
In 2013, Matson filed three consecutive decreases for the company’s Hawaii service, which totaled 9 percentage points, and one decrease for Guam/CNMI and Micronesia of 3.5 percentage points.
On Tuesday, Matson reported that its first-quarter net income fell 63 percent to $3.4 million from $9.1 million in the year-earlier period due to the timing of fuel surcharge collections, small declines in Hawaii and China container shipping volumes and $1 million in legal expenses dealing with a Septembermolasses spill in Honolulu Harbor.