Matson Raises Fuel Related Surchage Due to Record High Fuel Costs

OAKLAND, California (KHNL) -- As a result of record high prices for fuel related costs, Matson Navigation Company will be raising its fuel related surcharge in its Hawaii and Guam services by two percentage points, from 24 to 26 percent.

"We are experiencing record highs in fuel related costs that are being driven by unprecedented demands for oil in the world market," said Dave Hoppes, senior vice president, ocean services.  "These costs comprise a large component of operating costs for the transportation industry, and are unavoidable expenses for transporting goods, both on land and at sea.

Hoppes says the recent spikes have been unusually dramatic in an already volatile period, and are anticipated to continue through the end of the year.

He says Matson we will continue to monitor fuel costs and adjust the fuel surcharge accordingly.

This marks the first adjustment they've made to their surcharge in four months.  Fuel costs have increased over 10% since their last adjustment.