Ocean carrier Matson is raising rates for Guam and the Commonwealth of the Northern Mariana Islands.
"In order to offset increasing costs of operation and continuing investment in service improvements, Matson’s rates for Guam and CNMI cargo service will increase ... effective Jan. 30, 2022," the company stated in a Dec. 2 email to customers.
For Guam and the CNMI, westbound and eastbound rates will increase by:
• $250 per container.
• $350 for intermodal container
• $50 for a vehicle.
• $25 for hazardous cargo.
Rates for the rest of Micronesia will increase starting Feb. 6.
• $200 for a 20-foot and $300 for 40-foot westbound container.
• $300 for an eastbound container.
• $50 for a vehicle.
• $25 for hazardous cargo.
"Incremental annual rate increases such as these are necessary to maintain stable, reliable and convenient service tailored to the region’s needs over the long term. This year, we are also experiencing higher costs related to West Coast port congestion, landside supply chain delays, and extraordinary inflationary impacts on equipment," Matson stated in its email.
The company reported its net income increased from $162 million in the second quarter to $283 million in the third quarter of this year.
FedEx to hike rates
FedEx also has announced it will hike shipping rates early next year due to rising costs associated with a “challenging operating environment,” Yahoo Finance reported.
FedEx Freight shipping rates will increase by an average of 5.9% to 7.9%, depending on their zones. This rate hike will be levied on shipments within the United States, including Alaska, Hawaii, Puerto Rico, and the U.S. Virgin Islands and between the contiguous United States and Canada, FedEx announced, according to Yahoo Finance.
