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Shipping firm Matson Navigation Co. announced on Friday that it will be lowering its fuel surcharge for shipments between the US mainland and Hawaii, Guam and Micronesia, effective September 12th.

The company said that the surcharge reduction was in response to falling prices for bunker fuel.

Matson, Hawaii's largest ocean shipper, said that it will be reducing its fuel charge by 3.75 percentage points, from 25.5 percent to 21.75 percent, for its Hawaii service.

Matson will also be cutting its fuel surcharge for shipments to Guam/Micronesia by 3.75 percentage points from 27 percent to 23.25 percent.

Apart from the recent decline in bunker prices, the company also cited benefits from its fuel conservation and fleet optimization efforts. Matson reduced its fleet size to nine vessels several years ago, down from 10-11 ships previously, resulting in container ships that are more than 90 percent full and thereby collectively consume less fuel, Matson spokesperson Jeff Hull said.

"We adjusted our fleet size to adapt to the economic downturn and that helps improve vessel utilization," Hull added.

In a statement Dave Hoppes, Matson’s senior vice president for ocean services, said the latest surcharge decrease would mean a reduction in shipping costs of between $100 to $150 per container.

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

Feb. 4, 2008 - 31.5%
April 6, 2008 - 33.75%
July 13, 2008 - 38.25%
Aug. 31, 2008 - 42.25%
Sept. 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%
June 21, 2009 - 20.0%
July 5, 2009 - 28.0%
Oct. 4, 2009 - 24.0%
Feb. 7, 2010 - 27.5%
July 18, 2010 - 25.5%
Sept. 12, 2010 - 21.75%