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US shipping and logistics company Horizon Lines Inc. has announced it has increased its fuel surcharge by 1.5 percentage points to 35.35 percent on ocean shipments between Hawaii and Guam.

The hike, which comes into effect on June 8th, is the eighth price increase in a row and the second since April 6th when Horizon raised the surcharge by 2.25 percentage points to 33.75 percent.

Horizon Lines attributed the increase to "continued high and unprecendented levels of the cost of fuel."

"At this time, Horizon Lines sees no immediate relief in sight, as fuel costs are forecasted to remain either at this level or continue to escalate through midyear," the company said in a statement.

Horizon said that it would monitor fuel costs closely and adjust the fuel surcharge according to future market trends. In a message to customers, the company said "Horizon Lines understands that this adjustment impacts your cost of doing business, just as these fuel-cost increases have affected our cost of providing service."