Matson to lower its fuel surcharge

Matson Navigation Co. said Tuesday that it is lowering its fuel surcharge anew by one percentage point, effective Nov. 5, 2006.

Matson, which provides shipping services to Hawaii, Guam, CNMI and Micronesia, said it will lower the fuel surcharge from 19.75 percent to 18.75 percent, as a result of recent declines in bunker fuel prices,

“Bunker fuel prices continue to decrease, allowing us to make this second consecutive reduction to our fuel surcharge,” said Dave Hoppes, senior vice president, ocean services. “Following a year of rapidly escalating fuel costs, we’re pleased to finally experience this downward trend. We will continue to monitor fuel costs and adjust the fuel surcharge accordingly.”

This represents a decrease in shipping costs ranging from $20 to $67 per container.

“While fuel prices remain volatile,” Hoppes said, “we are hopeful this current trend will continue.”

Matson provides ocean transportation, intermodal and logistics services. It is a wholly owned subsidiary of Alexander & Baldwin, Inc. of Honolulu. [B][I](PR)[/I][/B]