BUSINESS BRIEFS
Horizon to cut fuel charge, too
Advertiser Staff and News Services
Horizon Lines, the state's No. 2 shipper, said it will reduce its fuel surcharge from 21.25 percent to 19.75 percent beginning Oct. 2.
The announcement comes days after Matson Navigation Co. said it will lower its surcharge by the same amount.
"This fuel surcharge decrease is the result of a recent downward trend in fuel costs," Horizon said in a Sept. 25 letter to Hawai'i and Guam customers.
"Horizon lines will continue to monitor fuel costs weekly and adjust the fuel surcharge as trends warrant."
BENETEAU DEAL FOR YACHT BROKER
Ala Wai Yacht Brokerage has signed an agreement to become the exclusive Hawai'i dealer for Beneteau USA, the American division of the world's largest sailboat maker.
The first Beneteau sailing yachts are on order and should arrive in Hawai'i in the next few months, said Tom Bashaw, Ala Wai Yacht Brokerage president.
JETSTAR FARES TO AUSTRALIA DROP
Jetstar, Qantas Airways Ltd.'s low-cost carrier, has announced new fares for its Honolulu- to-Australia flights.
Jetstar said one-way fares to Sydney for travel between Feb. 1 and March 31 will drop to $313 and one-way fares to Melbourne to $337.
Tickets must be purchased by Oct. 3 and are subject to availability.
The airline will begin flying five weekly flights to Australia on Dec. 27.
HIG'S FINANCIAL RATING RAISED
Hawaiian Insurance & Guaranty Co., the state's No. 4 hurricane insurer, has received a "B" financial strength rating, or fair, from A.M. Best Co. after its recent sale to Great Northwest Insurance Co
The local insurer is benefiting from a $12 million infusion from Great Northwest after almost being shut down because of the financial problems of its former owner. A.M. Best also said Hawaiian Insurance's ratings outlook was stable.
Hawaiian Insurance had a "C," or marginal, rating when it was owned by Alabama-based Vesta Insurance Group.
