Matson says it will drop fuel surcharge

[B]HONOLULU[/B]—Matson Navigation Co. on Friday said it will lower its fuel surcharge by 4.75 percent beginning on Sept. 21.

The drop in price will take the fuel surcharge in Hawaii from 42.25 percent to 37.5 percent. The decrease in the surcharge will also drop the rates for Guam, Micronesia and the Commonwealth of the Northern Mariana Islands to 39 percent.

Matson said the decrease is a result of lower prices being charged for the fuel its ships use. Crude oil prices began falling in August, marking the first time in more than a year that fuel prices have retreated significantly.

“Matson is very pleased to finally have the opportunity to lower its fuel surcharge following an extended period of record high fuel related costs in the world oil market,” Matson vice president of Ocean Services Dave Hoppes said in a written statement.

Hoppes said that the company is beginning to see fuel prices drop while crude oil prices have been in decline.

The drop in price would range from $115 to $180 per container for customers, Matson officials said.

Matson is owned by Honolulu-based Alexander & Baldwin Inc. and is Hawaii’s largest ocean shipper.