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Young Bros. pitches 5.5 percent rate increase
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Honolulu Star - Bulletin
- Article date:
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June 19, 2008
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Copyright informationCopyright Honolulu Star - Bulletin Jun 19, 2008. Provided by ProQuest LLC. (Hide copyright information)
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Young Bros. Ltd. said yesterday it has requested a 5.5 percent rate increase for all of its interisland cargo shipments.
Young Bros. said yesterday it requested an effective date of Aug. 1. The state Public Utilities Commission can take up to 45 days to review the request.
The $3.5 million in additional annual revenue would help offset costs of a 10-year, $186 million plan to improve its equipment and infrastructure. The company is adding four new, larger barges as well as upgrading facilities in Honolulu, Kawaihae and Kahului. It is also developing a cargo facility in Hilo.
The rate hike comes in the wake of a fuel-surcharge increase earlier this month to 4.22 percent from a 2.78 percent ...