Matson's fuel surcharge will increase to 10.5 percent from 9.2 percent beginning April 18.

This latest increase follows three fuel surcharge hikes last year. The surcharge grew from 7.5 percent to 8 percent in March last year, increased to 8.8 percent in June, then reached 9.2 percent in October.

Horizon Lines often matches Matson's fuel surcharges. Horizon Lines officials could not be immediately reached.

Dave Hoppes, Matson's vice president of ocean services, said bunker fuel prices have grown 20 percent in the last two months.

"Record high fuel prices have been widely reported in the media and is a subject that touches virtually all consumers," he said. "For transportation companies, fuel consumption is an unavoidable and significant component of operating costs."

Hoppes said many major railroads, trucking companies and international ocean carriers have fuel surcharges of more than 13 percent.

"While we continue to invest in modern, fuel-efficient vessels that help reduce our overall fuel consumption, the impact of fuel prices on Matson's business remains a cost factor we cannot simply absorb," he said.

Crude futures rose $1.41 to $55.30 per barrel today on the New York Mercantile Exchange