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Matson Navigation Co. has announced that it is decreasing its fuel surcharge for the fourth consecutive time following recent declines in bunker prices.

Hawaii's leading ocean shipper said that it will decrease the surcharge for shipments to Hawaii by 2 percentage points from 27 to 25 percent.

The fuel surcharge for Guam and Micronesia is also being lowered by the same amount, from 28.5 percent to 26.5 percent.

Commenting on the decision, Dave Hoppes, senior vice president, ocean services said "Following an extended period in which oil costs hit historical record highs, it is encouraging to see this downward trend continue to be reflected in the prices the company is now paying for bunker fuel."

The latest surcharge rates are due to come into effect on November 2nd.

Below is a summary of the fuel surcharges announced by Matson since January this year for its Hawaii service.

02/11/2008: 25.00 %

19/10/2008: 27.00 %

12/10/2008: 33.00 %

21/09/2008: 37.50 %

31/08/2008: 42.25 %

13/07/2008: 38.25 %

06/04/2008: 33.75 %

04/02/2008: 31.5 %