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Shipping firm Matson Navigation Co. has announced that it will be decreasing its fuel surcharge for shipments between the US mainland and Hawaii, Guam, the Commonwealth of the Northern Mariana Islands (CNMI) and Micronesia, effective October 9th.

Matson, Hawaii's largest ocean shipper, said that it will be cutting its fuel charge by 2 percentage points, from 42.5 percent to 40.5 percent, for its Hawaii service.

Matson will also be lowering its fuel surcharge for shipments to Guam, the Commonwealth of the Northern Mariana Islands (CNMI) and Micronesia by 2 percentage points from 44 percent to 42 percent.

It is the third time in six weeks that Matson, citing lower bunker fuel prices, has dropped its fuel surcharge. In total the company has reduced the rate by 7 percentage points since August 28th.

The decreases represent a reduction in shipping costs of $60 to $105 per container, Dave Hoppes, senior vice president of ocean services, said in a statement.

Commenting on the surcharge cut, Hoppes said: "The cost of bunker fuel, which is the type of fuel consumed by most ocean carriers, rose faster over the past year than crude oil and has been slower in experiencing declines in prices; fortunately, bunker fuel prices have moderated recently, allowing us to make this third decrease."

Please find below a surcharge summary for Matson's Hawaii service.

Feb 4, 2008 - 31.5%
Apr 6, 2008 - 33.75%
Jul 13, 2008 - 38.25%
Aug 31, 2008 - 42.25%
Sep 21, 2008 - 37.50%
Oct 12, 2008 - 33.0%
Oct 19, 2008 - 27.0%
Nov 2, 2008 - 25.0%
Nov 16, 2008 - 19.5%
Nov 30, 2008 - 15.0%
May 24, 2009 - 16.5%
Jun 21, 2009 - 20.0%
Jul 5, 2009 - 28.0%
Oct. 4, 2009 - 24.0%
Feb. 7, 2010 - 27.5%
Jul 18, 2010 - 25.5%
Sep 12, 2010 - 21.75%
Feb 27, 2011 - 26.5%
May 1, 2011 - 43.5%
Jun 12, 2011 - 47.5%
Aug 28, 2011 - 45.5%
Sep 25, 2011 - 42.5%
Oct 9, 2011 - 40.5%