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Shipping company Matson Navigation Co. has announced that it will be decreasing its fuel surcharge for shipments between the US mainland and Hawaii, effective Sunday, November 2, as a result of the recent decline in bunker fuel prices.

Matson, Hawaii's largest ocean shipper, said that it will be lowering the fuel charge for its Hawaii service by 5 percentage points, from 42.5 to 37.5 percent.

The new fee is the third surcharge change to be implemented this year. It follows a 3 percent rise on June 8 and is the first decrease since July 7, 2013.

Matson confirmed that it will also be reducing its fuel surcharge for shipments to Guam and the Commonwealth of the Northern Mariana Islands (CNMI) by 5 percentage points, from 43 to 38 percent.

Dave Hoppes, senior vice president of ocean services, said in a statement: "We are pleased to be able to make this downward adjustment to our fuel surcharge, which for most customers represents a reduction in shipping costs ranging from $100 to $175 per container.

"We have been encouraged by the recent moderation in bunker fuel prices, and remain focused on diligently exploring ways in which we can maximize fuel efficiency for our fleet."

Please find below a surcharge summary for Matson's Hawaii service since February 2008.

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%
Feb 26, 2012 - 45.5%
Jun 17, 2012 - 42.0%
Jul 15, 2012 - 39.0%
Oct 7, 2012 - 43.5%
Mar 17, 2013 - 40%
Apr 28, 2013 - 36.5%
July 7, 2013 - 34.5%
March 23, 2014 - 39.5%
June 8, 2014 - 42.5%
Nov 2, 2014 - 37.5%