LIHUE — Young Brothers LLC announced Wednesday it has received approval from the state Public Utilities Commission for its first significant rate increase in six years.
The 4.3-percent rate increase is critical to allow Young Brothers to reinvest in its business and upgrade equipment to continue providing essential inter-island cargo transport services, according to a press release.
Young Brothers makes over 1,250 sailings each year between the Hawaiian Islands. Tugs, barges, containers, lifts, generators and other equipment experience significant wear and tear due to usage and from the highly corrosive saltwater, the company said.
Young Brothers is the only water carrier to serve all islands.