Matson Takes Delivery Of 'Matsonia'

Rhea-AI Summary

Matson, Inc. (NYSE: MATX) announced the delivery of Matsonia, the second Kanaloa Class con-ro ship, marking a significant upgrade in its fleet, which includes four new vessels aimed at enhancing service to Hawaii. These ships, the largest of their kind built in the U.S., are part of Matson's $1 billion investment in modernization. The new vessels feature advanced environmental technologies and faster operation capabilities, ensuring reliable transport. This fleet renewal also aligns with global emissions regulations and is complemented by a $60 million terminal improvement project in Honolulu.

Positive

• Delivery of the second Kanaloa Class con-ro ship, Matsonia, enhancing fleet capacity.
• Investment of nearly $1 billion in fleet modernization and terminal improvements.
• State-of-the-art technology in new ships, promoting fuel efficiency and compliance with emissions regulations.
• Faster operational speeds with the capability to deliver timely services to Hawaii.

Negative

• None.

HONOLULU, Dec. 18, 2020 /PRNewswire/ -- Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, today took delivery of Matsonia, the second of two new Kanaloa Class combination container / roll-on, roll-off ("con-ro") ships built for Matson by General Dynamics NASSCO.  The two are the largest vessels of their kind ever built in the U.S.  They join two new containerships, Daniel K Inouye and Kaimana Hila, themselves the largest of their kind in the U.S. commercial fleet, in completing the renewal of Matson's Hawaii fleet.

Matsonia and Lurline are each 870 feet long, 114 feet wide (beam), with a deep draft of 38 feet and weighing in at over 50,000 metric tons. The sister ships have an enclosed garage with room for approximately 500 vehicles, plus ample space for rolling stock and breakbulk cargo. Lurline entered service in January of this year.

Built by Philly Shipyard, Matson's new Aloha Class containerships, Daniel K. Inouye and Kaimana Hila, entered service in 2018 and 2019, respectively.  Each 850-foot long containership has a 3,600 twenty-foot equivalent (TEU) capacity.

The four new ships are the centerpiece of Matson's nearly $1 billion investment to modernize its Hawaii service.  In addition to a nearly $930 million investment in its fleet, Matson is also investing more than $60 million in improvements to its Hawaii hub terminal at Sand Island in Honolulu, in conjunction with the State of Hawaii's Harbors Modernization plan.

"Putting four new ships into service in a three-year span is a significant accomplishment that culminates eight years of planning, project management and coordination for teams across many departments at Matson," said Matt Cox, chairman and chief executive officer. "Together with the modernization and expansion of our Honolulu terminal, these investments position Matson to provide efficient, reliable service to Hawaii for decades to come."  

Phase 1 of Matson's Sand Island Terminal Modernization project was completed this year, with the installation of three new electrically powered gantry cranes and the upgrading of three existing cranes and the terminal's power system. Phase 2, which will include improvements to the container yard and gate, will begin in 2021. In Phase 3, concurrent with the State's completion of the new Kapalama Container Terminal, Matson will expand its waterfront and overall terminal footprint by 30 percent by acquiring adjacent piers 51A and B.

In addition to ensuring efficient, reliable service to Hawaii for the next three decades, Matson's fleet renewal program is also accomplishing a broader fleet modernization that ensures compliance with increasingly stringent global emissions regulations.

Designed and built specifically for the Hawaii trade, all four of the new ships feature state-of-the-art green technology, including fuel-efficient hull design, environmentally safe double hull fuel tanks, Liquid Natural Gas (LNG) compatible engines, and freshwater ballast systems.  The more recent Kanaloa Class vessels are equipped with the first Tier 3 dual-fuel engines to be deployed in containerships regularly serving West Coast ports. 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.

The four new ships are also Matson's fastest vessels, with the ability to operate at or above 23 knots, helping ensure on-time deliveries in Hawaii from Matson's three West Coast terminals in Tacoma, Oakland and Long Beach.

'Matsonia' and 'Lurline' are iconic vessel names in Matson's long history.  Matsonia dates to the construction of Matson's first ship of that name in 1912. Three more ships were given the name in subsequent years; the new vessel is the fifth. 'Lurline' dates 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; the newest vessel is the sixth.

Daniel K. Inouye was named in honor of the late Hawaii Senator, who was a strong supporter of the U.S. Merchant Marine and a powerful advocate of the maritime industry. "Kaimana Hila" is a Hawaiian transliteration for "Diamond Head," one of Hawaii's most iconic landmarks.

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 two premium, expedited services from China to Long Beach, California, provides service to Okinawa, Japan and various islands in the South Pacific, and operates an international export service from Dutch Harbor to Asia.  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.

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 Matson's $1 billion investment?

Matson's $1 billion investment aims to modernize its fleet and enhance service efficiency to Hawaii, ensuring compliance with emissions regulations.

When did Matson take delivery of the Matsonia?

Matson took delivery of the Matsonia on December 18, 2020.

What features do the new Kanaloa Class ships have?

The new Kanaloa Class ships feature fuel-efficient designs, dual-fuel engines, and the ability to carry approximately 500 vehicles.

How will the new ships impact Matson's service to Hawaii?

The new ships are expected to provide more efficient and reliable transport services to Hawaii for the next three decades.

What are the emissions benefits of the new vessels?

The new vessels comply with Tier 3 emissions standards, reducing particulate emissions by 40% and nitrogen oxide emissions by 20% compared to previous standards.