POSTED: 12:29 p.m. HST, Oct 5, 2011
LAST UPDATED: 12:54 p.m. HST, Oct 5, 2011
Matson Navigation Co. will cut its fuel surcharge for the third time in a row due to a reduction in the price of bunker fuel used to power its fleet.
The state's largest ocean shipper said it will decrease on Sunday its fuel surcharge by two percentage points to 40.5 percent from 42.5 percent for its Hawaii service.
This represents a reduction in shipping costs from $60 to $105 per container for most customers, the company said.
The surcharge will drop the same day to 42 percent from 44 percent for its Guam/Commonwealth of the Northern Mariana Islands and Micronesia service.
This is the third cut Matson has made to its fuel surcharge since late August, decreasing the cost by seven percentage points in six weeks. A two percentage point reduction took effect Aug. 28, and a three percentage point reduction on Sept. 25.