The Associated Press - Matson Navigation Co., the state’s largest ocean shipper, announced last week it is increasing the fuel surcharge for its Hawai‘i service to 42.25 percent beginning Sunday, Aug. 31, to offset record fuel prices. It is Matson’s fourth rate hike this year and the 12th in two years. The increase could result in companies increasing the cost of everything from food to clothing. The increase is slightly lower than rival Horizon Lines LLC’s planned hike of 4.5 percentage points to a record 42.75 percent this month.

“While record-high fuel prices are adversely impacting virtually all businesses, as well as consumers, transportation companies are particularly hard hit,” said Dave Hoppes, Matson’s senior vice president of ocean services. “Fuel costs comprise a substantial component of Matson’s operating costs and are an unavoidable expense for transporting goods.” He said since April 2008, the company’s fuel costs have risen 48 percent. To offset rising fuel prices, Matson has slowed the speed of its container ships and temporarily removed one vessel from its Hawai‘i service.