Matson Navigation Company announced yesterday that it will raise its fuel surcharge in Hawai‘i and Guam, effective March 11.
The two-percentage-point hike, from 17.5 to 19.5 percent, is to offset increases in bunker fuel prices, the company said yesterday in a release on its Web site.
“While Matson experienced steady declines in fuel prices in late 2006 and early 2007, allowing us to make three consecutive downward adjustments, current trends have increased our fuel costs by over 15 percent,” Dave Hoppes, senior vice president of ocean services, said in the release. “Fuel consumption is an unavoidable and significant component of our operating costs, with every dollar increase per barrel adding over $2 million in annual expenses. We will continue to monitor fuel costs and adjust the fuel surcharge accordingly.”