Horizon Lines Inc. and Pasha Hawaii Transport Lines LLC are reducing the fuel surcharge for shipments between the mainland and Hawaii, allaying fears of rising commodity prices amid a global economic downturn.

Charlotte, N.C.-based Horizon will implement a 2 percentage-point decrease to 25 percent from 27 percent tomorrow, following the lead of its rival, Matson Navigation Co., which is lowering its Hawaii fuel surcharge by the same amount on the same day for the fourth consecutive time in six weeks.

Meanwhile, Pasha will cut its fee by 2 percentage points to 22.5 percent from 24.5 percent on Nov. 9 due to a rapid decline in fuel prices.

“;This would be the silver lining, so to speak, against the backdrop of everything else that's going on,”; said Paul Brewbaker, Bank of Hawaii's chief economist. “;This is a bit of a help and at some margin it dampens the negative impact of the wealth reduction from the global stock market declines in the last two months.”;

The risks of a global recession have unraveled in the last six to eight weeks most of the commodity inflation that has occurred in the past year, he said.

Matson's reduction also applies to its Guam/Commonwealth of Northern Mariana Islands and Micronesia service, which will drop to 26.5 percent from 28.5 percent, also tomorrow.

Matson and Horizon's most recent fuel surcharge adjustment on Oct. 19 for its Hawaii, Guam/Commonwealth of Northern Mariana Islands and Micronesia service routes was a drop of 6 percentage points—the largest percentage-point decrease in the history of the companies.