HONOLULU (HawaiiNewsNow) - The cost to ship items with Young Brother just went up.
The company announced Wednesday the Hawai’i Public Utilities Commission approved a 4.3 percent increase — the first significant rate increase for the company in six years.
Young Brothers says the increase is “critical" to maintaining operations in the state. Money generated by the increase will go to upgrading equipment essential to inter-island cargo transport services.
“We are grateful to the Consumer Advocate for its work and the Hawai'i Public Utilities Commission for approving our request for a rate increase,” said Joe Boivin, president of Young Brothers.
“By nature, the business of being an inter-island water carrier in Hawai’i is very capital intensive and requires constant upgrading of equipment to meet or exceed safety requirements and customer needs. The increase in rates will enable us, among other things, to replace four of our six towing tugs, which averaged 44 years old,” Boivin added.
Two of the four new tugs were put into service in 2018. The two others will be added to the fleet later this year.
Young Brothers added that in the long-run, the new tugs will reduce costs to customers and reduce carbon emissions.
Young Brothers is the only inter-island water carrier to serve all islands.