Matson to Lower Fuel Surcharge, Again; 3rd Price Drop Since August

98

Guam – Matson has announced that it is decreasing its bunker fuel surcharge by 2% effective this SUNDAY, October 9.

The surcharge is dropping from 44% to 42%  for all service to Guam, the CNMI and Micronesia. The fuel surcharge for Hawaii service will drop from 42.5% to 40.5%.

The price cut should result in a reduction in shipping costs ranging from $60 to $105 per container.

This is the shippers 3rd price decrease since August 28 when Matson dropped the surcharge by 2%, followed by a 3%  reduction on September 25. 

This third and latest cut in the surcharge adds up to an overall 7% decreased  within the past 6 weeks as a result of declining bunker fuel prices. Bunker fuel is the type of fuel that ocean going freighters use..

A release quotes Matson’s Senior Vice President Dave Hoppes as saying:

“The cost of bunker fuel, which is the type of fuel consumed by most ocean carriers, rose faster over the past year than crude oil and has been slower in experiencing declines in prices; fortunately, bunker fuel prices have moderated recently, allowing us to make this third decrease. Matson has made a practice of giving 30 days notice for upward rate adjustments, but as with previous decreases, we are passing on this downward adjustment to our customers as soon as possible.  We will continue to monitor fuel costs and adjust the surcharge accordingly.”