Matson Raises Rates for 2013 Westbound Hawaii Service by $225/Container
Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $175 per westbound container and $85 per eastbound container, effective January 1, 2013. The increase will be filed with the Surface Transportation Board. In addition, Matson will raise its terminal handling charge by $50 per westbound container and $25 per eastbound container, also effective January 1, 2013. Matson estimates that the combined increase of both the rate adjustment and terminal handling charge will result in shipping costs rising by an average of 5.6 percent. Historically, Matson announced average percentage increases based solely on the rate increase, excluding terminal handling charges. As of last year, it is now combing both numbers for the average percent increase in the interest of greater transparency.
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