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Mon 4 May 2009, 08:03 GMT

Ocean shipper raises fuel surcharge


Shipping firm matches main rival and increases fuel fee by 1.5 percentage points.

Shipping firm Horizon Lines has announced that it is raising its bunker fuel surcharge for shipments between the US mainland and Hawaii.

Horizon, Hawaii's second-largest ocean shipper, will be matching its main rival Matson Navigation Co. and increasing its fuel surcharge by 1.5 percentage points to 16.5 percent following six consecutive surcharge cuts.

The company also plans to increase its surcharge for shipments to Guam/Northern Mariana from 16.5 percent to 18 percent.

The changes are due to come into effect on May 24th 2009, the same day main rival Matson Navigation Co is set to raise its fee by the same margin.

Last month Horizon Lines posted a net loss of $10 million for the first quarter of 2009, citing a loss in revenue from reduced fuel surcharges and a 7.1 percent overall volume decrease.

The company said it will continue to closely monitor fuel costs and will adjust the fuel surcharge as trends warrant.

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