Matson Navigation Company, Inc. has completed the sale of two combination Ro/Ro /lift-on, lift-off containerships to Sea Star Line, LLC (Sea Star) in Jacksonville, Fla. The vessels, which have been bareboat chartered to Sea Star since the company was formed in 1998, will continue to be deployed in the Puerto Rico trade. The sale to Sea Star, which is owned jointly by SaltChuk Resources, Inc., Matson and Taino Star Investment, Inc., underscores the investors' long term commitment to the line's Puerto Rico service. Matson is a wholly owned subsidiary of Alexander & Baldwin, Inc. of Honolulu (Nasdaq:ALEX). The two ships, the SSs El Yunque and El Morro, were both built by Sun Ship Building and Dry Dock Company and initially placed in the U.S. Atlantic Coast-Puerto Rico trade.
