By Gerardo R. Partido
Variety News Staff

MATSON Navigation has reduced its fuel surcharge by 1.25 percentage points as a result of recent declines in bunker fuel prices.
The fuel surcharge cut applies to the company’s Hawaii, Guam/CNMI and Micronesia services.
The fuel surcharge will go down from 18.75 percent to 17.5 percent, effective Jan. 28, 2007.
Dave Hoppes, Matson senior vice president for ocean services, said bunker fuel prices continue to decrease, allowing the company to make this third consecutive reduction to its fuel surcharge.
“Following an extended period of rapidly escalating fuel costs, we’ve been encouraged by this recent ongoing downward trend. We will continue to monitor fuel costs and adjust the fuel surcharge accordingly. While fuel prices remain volatile, we are hopeful this current trend will continue,” Hoppes said in a statement.
For Matson customers, this latest fuel surcharge cut represents another decrease in shipping costs ranging from $25 to $80 per container.