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Shipping firm Matson Navigation Co. has announced that it will be increasing its fuel surcharge for shipments between the US mainland and Hawaii, effective Feburuary 26th.

Matson, Hawaii's largest ocean shipper, said that it will be raising its fuel charge by 5 percentage points, from 40.5 percent to 45.5 percent, for its Hawaii service.

The adjustment follows three consecutive decreases between August and October last year, which totalled seven percentage points over a six week period.

It is the first time since mid-2011 that Matson has increased its fuel surcharge. In June 2011, the surcharge rose by 4 percentage points to 47.5 percent, up from 43.5 percent in May.

Commenting on the latest surcharge rise, Dave Hoppes, senior vice president, ocean services, said: “While we were encouraged by the moderation of bunker fuel prices in the second half of 2011, that trend has been reversed in recent months.

“Since announcing our last fuel surcharge reduction, bunker fuel prices have risen over 16 percent. Matson recognizes that energy costs are a major concern for all businesses, as well as consumers. Unfortunately, transportation companies are especially hard hit, with fuel consumption an unavoidable and significant component of operating costs.

"As with all increases, Matson gives our customers 30 days advance notice prior to implementation. We will continue to monitor fuel prices and adjust the surcharge accordingly," added Hoppes.

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

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%