Matson keeps rate increase to lowest level in three years

Matson Navigation Co Inc has filed a 2.75% general rate increase in its United States Pacific Coast-Hawaii Service, effective April 14, 2002. The increase was filed with the Surface Transportation Board. Though Matson experienced a 90% decline in operating profit in fourth- quarter 2001, the company is holding the general rate increase at the lowest level in three years. The increase will help offset rises in operating costs and support ongoing investments.

Matson's last general rate increase was 3.5% and was implemented in February 2001. Before that, a 3.9% general rate increase was implemented in February 2000.

In November 2001, Matson reduced its fuel surcharge by one point, from 4.25% to 3.25%, resulting in a 23% reduction in the dollar amount customers pay for the surcharge.