HONOLULU (KHON2) – Young Brothers, the company that ships cargo between our islands, says it needs help to stay alive.
The company is asking state regulators to approve new rates so it can keep serving all of Hawaiʻi.
Right now, Young Brothers is losing millions of dollars, having lost $14 million last year and expecting losses to top $25 million in 2025 if nothing changes. Routes to Molokaʻi, Lānaʻi, and Hilo are some of the most brutal hit.
“These hearings are about securing the future of Hawai‘i’s supply chain and Young Brothers’ vital role in it,” Interim President Frank Almaraz says. “Our goal is smaller, more predictable rate increases that everyone agrees will be better for our customers, communities, and the company.”
The plan calls for higher customer rates and smaller yearly increases tied to inflation. State officials agree that some increase is necessary, but are still deciding how much.
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Young Brothers has been around for 125 years and remains the only shipping line that connects Molokaʻi and Lānaʻi to the rest of the state.
Without changes, the company warns reliable interisland shipping could be in danger.