Matson Navigation Co. said today it will cut its fuel surcharge for the first time since last fall, which will translate into a reduction in shipping costs from $100 to $150 per container.

The state's largest shipping company said it will reduce the surcharge to 24 percent from 28 percent for its Hawai'i service effective Oct. 4.
In addition to the increase for its Hawaiçi service, Matson is also cutting the surcharge on its Guam/CNMI and Micronesia service to 25.5 percent from 28 percent.
The reduction reflects a decline in the price of bunker fuel, which Matson uses to power its fleet of container ships, said Dave Hoppes, Matson’s senior vice president for ocean services.