Matson Christens 'Matsonia'

Rhea-AI Summary

Matson, Inc. (NYSE: MATX) recently celebrated the christening of the Matsonia, its second Kanaloa Class vessel, on July 2, 2020, at NASSCO shipyard in San Diego. The Matsonia is part of a $500 million investment for two new ships designed for efficient transport services between the U.S. mainland and Hawaii. At 870 feet long, the vessel features advanced green technology, including Tier 3 dual fuel engines, reducing emissions significantly. The launch is a milestone in Matson's fleet renewal program aimed at enhancing service capabilities and operational efficiency.

Positive

• Launch of Matsonia enhances service capabilities in Hawaii.
• Investment of $500 million for two new vessels strengthens fleet.
• Deployment of Tier 3 engines reduces emissions by 40% and nitrogen oxides by 20%.
• Creation of approximately 4.5 million man-hours of U.S. maritime job opportunities over the ship's lifespan.

Negative

• None.

SAN DIEGO, July 6, 2020 /PRNewswire/ -- Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, and General Dynamics NASSCO shipyard, christened the second of two Kanaloa Class vessels, the largest combination container / roll-on, roll-off ("con-ro") ships ever built in the United States, in a ceremony at the NASSCO shipyard in San Diego, CA on Thursday, July 2, 2020. 

The new vessel was christened 'Matsonia,' an iconic name in Matson's long history, dating to the construction of Matson's first ship of that name in 1912. Three more ships were given the name in subsequent years; this vessel will be the fifth.

The new Matsonia is the second of two new ships being built for Honolulu-based Matson by NASSCO at a total cost of approximately $500 million for the pair, and the fourth of four new vessels that Matson will put into service during 2018, 2019 and 2020.  Named in honor of the ocean deity revered in the native Hawaiian culture, Matson's two "Kanaloa Class" vessels constructed at the NASSCO shipyard are built on a 3,500 TEU* vessel platform.

At 870 feet long, 114 feet wide (beam), with a deep draft of 38 feet and weighing in at over 50,000 metric tons, Matsonia will join Lurline as Matson's largest ships and the largest con-ro vessels ever constructed in the U.S. They are also among Matson's fastest vessels, with a top speed of 23 knots, helping ensure on-time deliveries in Hawaii from Matson's three West Coast terminals in Seattle, Oakland and Long Beach. 

Both new Kanaloa Class vessels will have an enclosed garage with room for approximately 500 vehicles, plus ample space for rolling stock and breakbulk cargo. They will also feature state-of-the-art green technology, including a fuel-efficient hull design, environmentally safe double hull fuel tanks, fresh water ballast systems and the first Tier 3 dual fuel engines to be deployed in containerships regularly serving West Coast ports. 

Under the latest International Maritime Organization (IMO) requirements for engine manufacturers, Tier 3 engines reduce the levels of particulate emissions by 40 percent and nitrogen oxide emissions by 20 percent, as compared to Tier 2 standards. Matson's deployment of Tier 3 engines in both Kanaloa Class vessels is supported by California Climate Investments, a statewide initiative that puts billions of Cap-and-Trade dollars to work reducing greenhouse gas emissions, strengthening the economy and improving public health and the environment — particularly in disadvantaged communities.

"Matson is already benefitting from the speed, capacity and improved environmental profile of the three new ships we've put into service since 2018," said Matt Cox, Matson's chairman and chief executive officer, after the shipyard ceremony. "Matsonia will be our fourth new ship, completing a three-year fleet renewal program that positions us well to serve the needs of our communities in Hawaii for many years to come."

"As a proud U.S. company and Jones Act carrier, our investment in this new ship is about much more than maintaining a high level of service to Hawaii. It also helps drive substantial economic benefits in and opportunities in communities around the Pacific, where this vessel will operate," Cox said.

"The construction of Matsonia represents over a year's work for about 2,000 professionals here at NASSCO…engineers, tradesmen and lots of support people and countless others who produced the materials used to build this ship that are sourced here in the U.S. Over its expected lifespan, this ship will generate approximately 4.5 million man-hours of work opportunity for the U.S. mariners who will operate it and decades of steady work for all of the dockworkers and terminal personnel that move the cargo on and off our ships.

"These are all living wage jobs, supporting the families of these American workers and the taxes they pay," Cox said, adding, "Multiply that by all the ships NASSCO and other U.S. shipyards are building, and you get a sense of the value of the maritime industry to our country and its economy. In California alone, there are more than 51,000 jobs tied to the American maritime industry, providing over 3.6 billion dollars in labor income with a total economic impact in the state of more than twelve billion dollars."

Dave Carver, President of General Dynamics NASSCO, said, "The Matsonia is a reflection of the highest standards of shipbuilding and we are proud to celebrate her launching. This extraordinary vessel is a testament to the hard work, unity and strength of our thousands of dedicated shipbuilders who made this possible."

Matson invited Peggy Forest, wife of Matson's President Ron Forest, to officially christen the vessel by breaking a ceremonial bottle of champagne against the ship's hull. Immediately after the bottle was broken, the vessel was released from its build ways and slid backward into San Diego Bay. Matsonia was then docked at NASSCO's nearby testing and trials berth, where the final stages of construction will be completed. 

Matson is expected to take delivery of the vessel in the fourth quarter of 2020.

More information on Matsonia and Matson's fleet modernization program is available at: https://www.matson.com/kanaloa-class.html

* Twenty-foot Equivalent Units, the standard unit of measurement for container capacity

About Matson

Founded in 1882, Matson (NYSE: MATX) is a leading provider of ocean transportation and logistics services.  Matson provides a vital lifeline to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, and to other island economies in Micronesia.  Matson also operates a premium, expedited service from China to Southern California and provides services to Okinawa, Japan and various islands in the South Pacific.  The Company's fleet of owned and chartered vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges.  Matson Logistics, established in 1987, extends the geographic reach of Matson's transportation network throughout the continental U.S.  Its integrated, asset-light logistics services include rail intermodal, highway brokerage, warehousing, freight consolidation, Asia supply chain services, and forwarding to Alaska.  Additional information about the Company is available at www.matson.com

About General Dynamics NASSCO Shipyard

General Dynamics NASSCO has been designing, building, and repairing ships since 1960. Today, the company conducts work in four ports in the United States and around the world. NASSCO is the largest shipyard on the West Coast of the United States conducting design, new construction and repair of ships. In the past decade, NASSCO delivered more than 30 ocean-going ships to government and commercial customers—including the world's first LNG-powered containerships and several other lead ships.

More information about NASSCO can be found at www.nassco.com.

More information about General Dynamics can be found at www.generaldynamics.com.

Matson Investor Relations inquiries:	Matson News Media inquiries:
Lee Fishman	Keoni Wagner
Matson, Inc.	Matson, Inc.
510.628.4227	510.628.4534
lfishman@matson.com	kwagner@matson.com

 

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SOURCE Matson, Inc.

FAQ

What is the significance of the <i>Matsonia</i> launch for MATX?

The launch of the Matsonia enhances service capabilities in Hawaii and is part of a broader fleet renewal strategy.

When was the <i>Matsonia</i> christened?

The Matsonia was christened on July 2, 2020.

How much did Matson invest in the <i>Matsonia</i> and its sister ship?

Matson invested approximately $500 million for the construction of the two vessels.

What technology does the <i>Matsonia</i> use for emissions reduction?

The Matsonia is equipped with Tier 3 dual fuel engines, which significantly reduce emissions.

How long is the <i>Matsonia</i> and what is its cargo capacity?

The Matsonia is 870 feet long and can carry approximately 500 vehicles.