Matson cuts fuel surcharge to 15%

Matson Navigation Co. is lowering its fuel surcharge again, just one day after announcing it would raise shipping rates.

Matson announced Wednesday that is will lower the surcharge 4.5 percentage points, from 19.5 percent to 15 percent, for Hawaii service.

The company said it will decrease the fuel surcharge for Guam and Micronesia from 21 percent to 16.5 percent.

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The new rates are effective Nov. 30.

Matson said customers should see a reduction of between $110 and $170 per container.

On Tuesday, Matson announced it would raise rates for Hawaii service by $120 per westbound container and $60 per eastbound container, effective Jan. 4.

Matson lowered its fuel surcharge for the first time in over a year on Sept. 21. The company said it has lowered its fuel surcharge six times for a total of 27.25 percentage points since Sept. 20, representing a decrease in shipping costs ranging from $640 to $1,015 per container for customers.

Oakland, Calif.-based Matson is owned by Honolulu-based Alexander & Baldwin Inc. (NYSE: AXB) and is Hawaii???s largest ocean shipper.