Recent decreases in bunker fuel prices has prompted Matson to drop its fuel-related surcharge by 3.5 percentage points.
The decrease takes the surcharge from 40 percent to 36.5 percent for its Hawaii service. The decrease is effective Sunday, according to the company.
Matson’s last adjustment to its fuel surcharge in March was a decrease of 3.5 percentage points.
“We are pleased to make this downward adjustment to our fuel surcharge, which for most customers represents a reduction in shipping costs ranging from $80 to $140 per container,” said Dave Hoppes, senior vice president of ocean services. “We have been encouraged by the recent moderation in bunker fuel prices, and remain focused on diligently exploring ways in which we can maximize fuel efficiency for our fleet. Matson has made a practice of giving 30 days notice for upward rate adjustments, but passes on downward adjustments to our customers as soon as possible. We will continue to monitor fuel costs and adjust the surcharge accordingly.”
A spokesman for the company said it does not “hedge” on oil prices, but buys fuel as each ship reaches port.