HONOLULU (HawaiiNewsNow) - Matson Navigation Company is raising its rates.
Starting on October 7, Matson will raise its fuel surcharge by 4.5 percentage points, from 39% to 43.5% for its Hawaii service, and from 35.5% to 40% for its Guam/CNMI and Micronesia services.
Matson blames rising bunker fuel prices and other energy related costs for the hike.
The increase follows two consecutive decreases in June and July, which totaled 6.5 percentage points.
"While we were encouraged by the moderation of bunker fuel prices earlier this year, that trend has been reversed in recent months," said Dave Hoppes, senior vice president, ocean services. "Since announcing our last decrease in mid-July, bunker fuel prices have risen over 13 percent. Energy related expenses continue to be a significant cost factor for most businesses, as well as consumers, with transportation companies especially hard hit."