24 Dec 2010

Hawaii cargo rates hiked 24 percent

11:17 am on 24 December 2010

Hawaii's regulated interisland ocean cargo transportation firm Young Bros is seeking to raise its average rates 24 percent - the company's highest increase in at least 30 years.

The company filed an application yesterday with the state Public Utilities Commission seeking the rate increase, saying it is necessary to provide the company a reasonable profit.

The Honolulu Star Advertiser reports the company's move comes as cargo volume declines and competition from Pasha Hawaii Transport Lines is expected to end the regulated monopoly it has held for decades.