Matson Navigation Co., Hawai'i's biggest ocean cargo carrier, said today it will lower its fuel surcharge on Sept. 21 to 37.5 percent, a decline of 4.75 percentage points.

The drop reflects recent declines in bunker fuel prices. The rate applies to Matson's Hawai'i, Guam/Commonwealth of Northern Mariana Islands CNMI and Micronesia services.

"Matson is very pleased to finally have the opportunity to lower its fuel surcharge following an extended period of record high fuel-related costs in the world oil market," said Dave Hoppes, senior vice president, ocean services.

"While crude oil and gasoline prices began to decline in August, Matson's expenses for bunker fuel, which is used to power its fleet, continued to climb," Hoppes said.

"For most customers, this represents a decrease in shipping costs ranging from $115 to $180 per container," he said.

"We are hopeful this current trend will continue, resulting in further decreases in the future," Hoppes added. He said the company will continue to monitor fuel costs and adjust the fuel surcharge accordingly.

The company sent a letter to customers today announcing the decrease..

The company last raised the surcharge on Aug. 31 and last decreased it on Jan. 28, 2007.

About 80 percent of all goods sold in Hawai'i come via ship.