With fuel related costs continuing to sustain record highs, Matson Navigation Company announced today that it is raising its fuel related surcharge by 2.5 percentage points, from 29 to 31.5 percent, effective February 4, 2008, for its Hawaii, Guam/CNMI and Micronesia services.

"Fuel related expenses remain a major cost component for Matson, as well as other transportation companies," said Dave Hoppes, senior vice president, ocean services. "Since our last increase was announced in mid-November, fuel prices have continued to be adversely affected by unprecedented demands for oil in the world market. While we recognize the impact these increases have on our customers and consumers in general, fuel consumption is an unavoidable cost that touches virtually all aspects of our operations. As cited in our November announcement, this adjustment is a necessary action due to fuel costs remaining at extraordinary levels. We will continue to monitor fuel prices and adjust the fuel surcharge accordingly. In late 2006 and early 2007, Matson had three consecutive decreases in its fuel surcharge. Unfortunately, that trend reversed dramatically during the duration of 2007."

If you have any questions, please contact your local sales representative or our Customer Support Center.

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