Matson Inc News

Two Matson Inc subsidiaries must face claims from rival container shipping company American President Lines LLC that Matson is abusing its market power over service from the United States to Guam, a federal judge ruled in an antitrust lawsuit.The ruling Friday by U.S. District Judge Christopher Cooper in Washington, D.C., declined to dismiss claims against Matson Navigation Company Inc and Matson Logistics Inc brought by American President Lines last year seeking unspecified monetary damages for alleged violations of U.S. competition law.The court dismissed parent company Matson Inc as a defendant.Honolulu-based Matson, a leading U.S. carrier in the Pacific, in 2021 recorded revenue of more than $3.9 billion.

A U.S.-registered containership is reportedly leaking lubricant into the water near Anchorage, Alaska.On Thursday evening, personnel at the U.S. Coast Guard Sector Anchorage Command Center received a notification that the 645-foot Maunalei was leaking lubricant while transiting to the Port of Alaska. The vessel, owned by Matson, Inc., was said to be discharging a biodegradable, environmentally acceptable lubricant (EAL) at a rate of approximately six gallons per hour. Given the low toxicity of the lubricant…

President Joe Biden on Monday signed an executive order aiming to use government spending to strengthen domestic manufacturing and create markets for new technologies, in a move widely praised by America's maritime industry.The executive order, titled Strengthening "Buy American" Provisions, Ensuring Future of America is Made in America by All of America’s Workers", calls for increasing the amount of U.S. content that must be in a product for it to be considered made in America under existing "Buy American" requirements.

Matson, Inc. and christened the largest combination ConRo ship ever built in the U.S. -- Lurline -- in a ceremony at the General Dynamics NASSCO shipyard in San Diego, CA on Saturday, June 15. Lurline an iconic name in Matson's long history, dating to the construction of Captain William Matson's first ship of that name in 1887. Four more ships were given the name in subsequent years; this vessel will be the sixth.The new Lurline is the first of two new ships being built for Matson by NASSCO at a total cost of approximately $500 million for the pair…

General Dynamics NASSCO will hold a special event to christen and launch the containership Lurline on Saturday, June 15.  Lurline is an 870-foot-long, 3,500 TEU, 44,200 dwt, combination containership/RoRo vessel built for Matson, Inc.  The ship is the largest containership ever built in San Diego.Lurline has liquefied natural gas-capable engines and is designed for energy efficiency.  It is the lead ship of a two-vessel contract being built for Matson at General Dynamics NASSCO.Ceremony participants include General Dynamics NASSCO president Kevin Graney and Matson CEO Matt Cox.  Constance Lau, CEO and director of Hawaiian Electric Industries and a Matson board of directors member, will christen the ship with the traditional break of a champagne bottle on the hull.

National Steel and Shipbuilding Company (NASSCO) held a ribbon-cutting ceremony on Friday to commission its new panel line, which expands steel production capabilities for the construction of commercial and government ships in San Diego.The American shipbuilding company with three shipyards located in San Diego, Norfolk, and Mayport said in a press release that the new panel line enables distortion-free welding of plates as thin as five millimeters to produce lighter, more energy efficient ships.The cutting-edge facility uses hybrid laser arc welding and numerically controlled robots to mill, seam and weld steel panels in a highly automated production line.

Matson, Inc. took delivery of the first of two new Aloha Class containerships built for Matson's Hawaii service at Philly Shipyard.Christened 'Daniel K. Inouye' in honor of Hawaii's late senior U.S. Senator, the vessel is the largest containership ever built in the United States. Weighing in at over 51,400 metric tons, the 850-foot long and 3,600 TEU capacity Daniel K. Inouye is Matson's largest ship and also its fastest, with a top speed in excess of 23 knots."This new ship, our fifth delivered by Philly Shipyard, is the product of a great partnership with the Philly team in designing and constructing a new class of containership that will set a new standard for cargo delivery in the Hawaii trade…

I was honored to be present in South Philadelphia on June 30 to witness the christening of the largest container ship ever built in the United States. It was built by Philly Shipyards for shipping company, Matson, Inc., and was named for the former Hawaii senator, war hero, and long-standing maritime champion Daniel K. Inouye. At a time when the U.S. maritime industry is fighting to keep its place among international competitors, this event was a momentous occasion. Built for the Hawaii trade…

Honolulu-based Matson Inc reported fourth-quarter net income of $166.9 million. On a per-share basis it has profit of $3.90. The ocean transportation and logistics services company posted revenue of $516.1 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $503.2 million. The  U.S. carrier in the Pacific reported profit of $232 million, or $5.37 per share for the year. Revenue was reported as $2.05 billion. Matt Cox, Matson's Chairman and Chief Executive Officer, commented, "Matson's core businesses performed well during the fourth quarter supported in particular by continued strong demand in our China service and higher lift volumes at SSAT. Overall, 2017 was a solid year for Matson.

Matson, Inc. said its subsidiary Matson Navigation Company, Inc. has replaced one of its three barges dedicated to serving Hawaii's neighbor island ports with a newer, larger barge that will improve service levels. The container barge Columbia, to be renamed Mauna Loa in honor of the barge it replaces, is now Matson's largest barge. At 360 feet long, with a beam (width) of 100 feet and cargo carrying capacity of 12,600 tons or 500 TEU, it is 12 feet longer and 40 feet wider than the barge it replaces, with the capacity to carry 180 more TEU or nearly 8,000 tons more cargo. Built in 2012 by Gunderson Marine and classified as a Deck Cargo Barge with approximately 33,000 square feet of deck cargo space, the vessel's design enables swifter and more fuel efficient transits.

San Diego shipyard General Dynamics NASSCO said it has begun building the first of two liquefied natural gas (LNG)-capable combination containership/roll-on, roll-off (ConRo) vessels for Matson Navigation Company, Inc., a wholly owned subsidiary of Matson, Inc. The 265-meter-long, 3,500 TEU Kanaloa class design was developed by the shipyard in partnership with Daewoo Ship Engineering Company, and incorporates Tier III compliant LNG-capable main and auxiliary engines, with accommodation for future LNG fuel gas system installation.

Matson has welcomed Matson Anchorage back to Alaska following three months of work to upgrade the vessel, including the installation of new equipment that virtually eliminates particulate matter and sulfur from engine exhaust, making it one of the cleanest ships operating in Alaska. Matson Anchorage was the last of Matson's three D7 Class containerships serving Alaska to receive the new equipment. Sister ships Matson Kodiak and Matson Tacoma underwent the same upgrade work and were returned to service last year. The state-of-the-art hybrid "wet scrubber" exhaust gas cleaning (EGC) technology now operating in Matson's Alaska fleet is unlike any other on a U.S. flagged vessel.

Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA, and Matson, Inc., a U.S. carrier in the Pacific, today marked a milestone in the construction of the first of two new "Aloha Class" containerships to be delivered to Matson in the third quarter of 2018 and first quarter of 2019, respectively. Designed specifically for Hawaii service, they will be the largest containerships ever built in the U.S. During today's ceremony in the dry dock where the first engine room section…

Matson, Inc. president and chief executive officer Matthew J. Cox will succeed retiring chairman of the board Walter A. Dods, the company announced today. The appointment becomes effective at the end of the company's annual shareholders’ meeting today, as Dods retires in accordance with the company's corporate governance guidelines limiting board members’ age. “In my nearly 30 years associated with Matson, I've never felt stronger about its leadership and long-term prospects,” Dods said.

APM Terminals Tacoma has received notification from Matson, Inc., its main customer, that Matson does not intend to renew its current terminal services agreement after its expiration on December 31, 2017. Accordingly, APM Terminals is evaluating all options with respect to its existing terminal lease, which is currently set to expire on December 31, 2017. The terminal, with 12 employees, became part of the Maersk Group portfolio with the acquisition of US-based Sea-Land Service by Maersk Line in 2000. The 600,000 TEU annual throughput capacity facility was used primarily by the Matson Alaska Service, with twice-weekly sailings between Tacoma, Anchorage and Kodiak, and a weekly service between Tacoma and Dutch Harbor, handling approximately 190,000 TEUs in 2016.

Matson, Inc. announced the issuance of $200 million in privately placed 15-year final maturity senior unsecured notes pursuant to a previously announced commitment letter on July 18, 2016. The notes will have a weighted average life of approximately 8.5 years and will bear interest at a rate of 3.14 percent, payable semiannually. Matson said it plans to proceeds from the notes to pay down the its revolving credit facility and for general corporate purposes. Joel Wine, Matson's Senior Vice President and Chief Financial Officer commented, “We are pleased to complete this attractive fixed rate financing that will pay down our revolving credit facility and strengthen our balance sheet as we progress with our four vessel Hawaii fleet renewal program.

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two new combination container and roll-on/roll-off (Con-Ro) vessels for its Hawaii fleet at a contract price of $511 million for both vessels with deliveries scheduled for the end of 2019 and mid-year 2020. Matson is calling these vessels the Kanaloa Class in honor of the ocean deity revered in the native Hawaiian culture and will name each of the new vessels after predecessor ships from its 134-year history.

U.S. carrier in the Pacific Matson, Inc. has introduced a new containership service between the U.S. West Coast and ports in Samoa, American Samoa, Tonga and Fiji. Starting August 10, 2016, the shipper’s South Pacific Express (SPX) will for the first time link the its West Coast - Hawaii service with its South Pacific network. Using a dedicated ship to carry West Coast cargo transshipped at Honolulu, SPX will provide reliable, same-day-of-week South Pacific arrivals every 28 days, calling on Apia, Samoa; Pago Pago, American Samoa; Nuku'alofa, Tonga; Suva, Fiji and Lautoka, Fiji before returning to Honolulu. “We have sought for some time the right opportunity to link our networks in the northern and South Pacific in a way that enhances both operations…

The Board of Directors of Matson, Inc. has appointed Stanley Kuriyama as a director of the company, effective June 23, 2016.   Kuriyama is the Executive Chairman of Alexander & Baldwin, Inc. He first joined Alexander & Baldwin in 1992, and from January 2010 until his retirement in December 2015, he served as Alexander & Baldwin's president and chief executive officer. Prior to joining Alexander & Baldwin, Kuriyama was a partner in the law firm of Cades Schutte Fleming & Wright, specializing in real estate and real estate financing. He is a 1977 graduate of Harvard Law School.

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders of record as of the close of business on May 12, 2016.

Matson, Inc. today reported net income of $26.6 million, or $0.60 per diluted share for the quarter ended December 31, 2015. Net income for the quarter ended December 31, 2014 was $27.8 million, or $0.63 per diluted share. Consolidated revenue for the fourth quarter 2015 was $494.8 million compared with $443.5 million reported for the fourth quarter 2014. For the full year 2015, Matson reported net income of $103.0 million, or $2.34 per diluted share compared with $70.8 million, or $1.63 per diluted share in 2014. Consolidated revenue for the full year 2015 was $1,884.9 million, compared with $1,714.2 million in 2014. Matt Cox, Matson's President and Chief Executive Officer, commented, "2015 was an exceptional year for Matson. Financially, it was the best year in our history. Mr.

The Board of Directors of Matson, Inc., a U.S. carrier in the Pacific, has declared a first quarter dividend of $0.18 per common share.    The dividend will be paid on March 3, 2016 to all shareholders of record as of the close of business on February 11, 2016.

The Board of Directors of Matson, Inc. today declared a fourth quarter dividend of $0.18 per common share.  The dividend will be paid on December 3, 2015 to all shareholders of record as of the close of business on November 5, 2015.