Hawaii regulators question Young Brothers on viability
Prices for interisland shipping might need to rise 25% next year to keep tug-and-barge operator Young Brothers LLC solvent even if the company receives a $25 million state bailout.
The potential impact on customers was mentioned Wednesday during a state Public Utilities Commission hearing, which represented an opening discussion in an emergency evaluation of the regulated monopoly that claims to be on the brink of shutting down.
Young Brothers informed state leaders May 26 that it was in dire financial straits because of coronavirus-related business declines that exacerbated existing financial losses that would no longer be covered by the company’s $2.75 billion parent company, Saltchuk Resources Inc., in Seattle.
https://www.staradvertiser.com/2020/06/12/hawaii-news/hawaii-regulators-question-young-brothers-on-viability/
