Matt Cox News

U.S.-based ocean carrier Matson announced it has placed a $1 billion order with Philly Shipyard for the construction of three new 3,600 TEU Aloha Class containerships.The first vessel is expected to be delivered in the fourth quarter of 2026 with subsequent deliveries in 2027.Matson, which aims to achieve a 40% reduction in Scope 1 fleet emissions by 2030 and net-zero Scope 1 by 2050, said the three newbuilds will be equipped with dual fuel engines that are designed to operate on either conventional marine fuels or liquefied natural gas (LNG).

U.S.-based Matson, a carrier in the Pacific, said this week it will reduce its fleet greenhouse gas (GHG) emissions by 40% by 2030, and achieve net zero fleet GHG emissions by 2050.The Honolulu-headquartered company joins peers such as Denmark-based Maersk and Switzerland-based MSC on a growing list of international shipping companies to reveal decarbonization plans that go beyond the International Maritime Organization's (IMO) target to reduce overall GHG emissions from ships by 50% from 2008 levels by 2050.Shipping…

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 has taken delivery of Matsonia, the second of two new Kanaloa Class combination container / roll-on, roll-off (con-ro) ships built for the U.S. carrier at General Dynamics NASSCO's San Diego shipyard. Weighing in at over 50,000 metric tons, Matsonia and Lurline are each 870 feet long, with 114 feet beam and a deep draft of 38 feet. The sister ships have an enclosed garage with room for approximately 500 vehicles, plus ample space for rolling stock and breakbulk cargo. Lurline…

Ocean Voyages Institute’s marine plastic recovery vessel, S/V KWAI, docked at the port of Honolulu at the end of June after a 48-day expedition successfully removing 103 tons (206,000 lbs.) of fishing nets and consumer plastics from the North Pacific Subtropical Convergence Zone (more commonly known as the Great Pacific Garbage Patch or Gyre).The Pacific Gyre, located halfway between Hawaii and California, is the largest area with the most plastic, of the five major open ocean plastic accumulation regions…

Matsonia, the second of two Kanaloa Class combination container/roll-on, roll-off (con-ro) vessels being built for U.S.-based carrier Matson, was christened at the General Dynamics NASSCO shipyard in San Diego, on Thursday.Peggy Forest, wife of Matson's President Ron Forest, officially christened the vessel by breaking a ceremonial bottle of champagne against its hull. Immediately after the bottle was broken, the vessel was released from its build ways and slid backward into San Diego Bay.

U.S. carrier Matson announced it promoted three executives to the company's senior leadership team, effective immediately.Branton "Bal" Dreyfus, Vice President, Alaska, has been promoted to Senior Vice President, Alaska in recognition of Matson's growing scope of operations, continuing investment in and long-term commitment to serving Alaska. Dreyfus will continue to report directly to Matt Cox, Chairman and Chief Executive Officer.Capt. John "Jack" Sullivan, Vice President, Vessel Operations and Engineering…

Matson reported net income of $18.4 million, or $0.43 per diluted share, for the quarter ended June 30, 2019. Net income for the quarter ended June 30, 2018 was $32.6 million, or $0.76 per diluted share. Consolidated revenue for the second quarter 2019 was $557.9 million compared with $557.1 million for the second quarter 2018. For the six months ended June 30, 2019, Matson reported net income of $30.9 million, or $0.72 per diluted share compared with $46.8 million, or $1.09 per diluted share in 2018.

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.

Largest Containership Built in U.S. Will Serve Hawaii. Matson, a U.S. flag carrier in the Pacific, and Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA (Oslo: PHLY) christened the largest containership ever built in the United States in a ceremony at the Philly Shipyard on Saturday, June 30. The new vessel is named 'Daniel K. Inouye' in honor of Hawaii's late senior U.S. Senator, who was a longstanding supporter of the U.S. maritime industry and its important role in supporting Hawaii's economy. It is the first of two new ships being built for Honolulu-based Matson by Philly Shipyard at a total cost of approximately $418 million for the pair, and the first of four new vessels that Matson will put into its Hawaii service during the next two years.

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.

Matson Navigation Company, a leading U.S. carrier in the Pacific, has signed contracts with Paceco Corporation for the purchase of three new 65 long-ton capacity cranes and modifications to upgrade three existing cranes at its Sand Island Terminal in Honolulu Harbor. The investments are part of a broader $60 million terminal expansion and modernization program Matson is undertaking to prepare its operational hub in Hawaii for the arrival of four new ships the company has on order with a combined value of approximately $930 million and deliveries starting next year. The new cranes will be built by Mitsui Engineering & Shipbuilding (MES), delivered next year and installed at Matson's Sand Island Terminal in Honolulu in early 2019.

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…

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.

Matson, Inc. announced today that it will release its financial results for the Third Quarter 2015 on Wednesday, November 4, 2015. A conference call is scheduled for 4:30 p.m. EST when Matt Cox, President and Chief Executive Officer, and Joel Wine, Senior Vice President and Chief Financial Officer, will discuss Matson's third quarter results. Scheduled Time: 4:30 p.m. EST / 1:30 p.m. PST / 11:30 a.m. The conference call will be broadcast live along with a slide presentation on the Company's website at www.matson.com; Investor Relations. A replay of the conference call will be available approximately two hours after the call through November 11, 2015 by dialing 1-855-859-20561-855-859-2056 FREE FREE or 1-404-537-34061-404-537-3406 FREE FREE and using the conference number 60363876.

Thordon Bearings has signed a contract to supply COMPAC seawater-lubricated propeller shaft bearing solutions to two Jones Act containerships under construction at the Aker Philadelphia Shipyard Inc. (APSI) for Matson Navigation Company, Inc. The order represents the first large containership reference for the manufacturer and the largest commercial ship propeller shafts to be fitted with COMPAC bearings, Thordon noted. The 3600TEU Aloha Class vessels, the largest Jones Act containerships ever built…

Matson, Inc., a U.S. carrier in the Pacific, announced that production has begun on its two new Aloha Class containerships following a steel cutting ceremony at Aker Philadelphia Shipyard Inc. (APSI) in Pennsylvania. Matson subsidiary Matson Navigation Company, Inc. ordered the ships from APSI in 2013 for an aggregate price of $418 million, following on the delivery of four newly-built Jones Act containerships for Matson between 2003 and 2006. At 850 feet long and with 3,600 TEU capacity…

Matson, Inc., a U.S. carrier in the Pacific, reported net income of $9.9 million, or $0.23 per diluted share for the quarter ended June 30, 2015. The company said its second quarter results were negatively impacted by $13.5 million of additional selling, general and administrative expenses related to the company's acquisition of Horizon Lines, Inc. in excess of the company's incremental run-rate target and by $11.4 million of costs related to the company's settlement with the State of Hawaii to resolve all claims arising from the discharge of molasses into Honolulu Harbor in September 2013, which together reduced earnings per diluted share by $0.33. Net income for the quarter ended June 30, 2014 was $18.1 million, or $0.42 per diluted share.

Pacific cargo shipper Matson, Inc. informs that a settlement has been reached with the State of Hawaii to resolve all civil, criminal and administrative claims that the State could have had arising from the discharge of molasses into Honolulu Harbor in September 2013. Matson will pay $5.9 million to the State as compensation for damaged coral and lost fish, as well as the State's response and other costs. As part of the settlement, Matson has terminated its molasses operations in Honolulu and has committed to remove the molasses risers and tanks at Sand Island terminal at an estimated cost of between $5.5 million and $9.5 million bringing the total cost to Matson of between $11.4 million and $15.4 million.

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services. The company expects to invest more than $30 million in new equipment planned by Horizon prior to its acquisition. According to the shipper, equipment upgrades to be made over the next three months include 2,000 new standard 40-foot dry containers for general cargo, a new 65-ton gantry crane for Kodiak Terminal…

Matson, Inc. has promoted Kenny Gill to the position of Vice President, Alaska. In his new role, Gill has management responsibility for all Matson operations in Alaska, including terminal operations, customer service, sales and financial performance of the company's terminals in Anchorage, Kodiak and Dutch Harbor. Gill previously served as Senior Director of Operations for Horizon Lines' Alaska division. His appointment follows Matson's May 29, 2015 acquisition of the Alaska operations of Horizon Lines and subsequent retirement of Marion Davis…