Matson Announces Q2 2019 Results; Lowers FY2019 Outlook
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.
Matson Christens First Kanaloa Class Vessel 'Lurline'
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…
U.S. DOT Announces New MTSNAC Members
U.S. Transportation Secretary Elaine L. Chao today announced the appointment of 29 members to the Maritime Transportation System National Advisory Committee (MTSNAC).Established in 2010, the MTSNAC is made up of leaders from commercial transportation firms, trade associations, state and local public entities, labor organizations, academia, and environmental groups that advise the Secretary on policies to ensure that the marine transportation system can respond to projected trade increases.“This advisory committee will help strengthen and modernize our nation’s maritime capabilities…
Matson Receives New Cranes
Acquisition part of $60 million investment in Honolulu terminal improvements.Matson has received three new 65 long-ton capacity gantry cranes at its Honolulu hub terminal at Sand Island. The biggest ship-to-shore container cranes to be deployed at any commercial harbor in Hawaii, the cranes arrived aboard a special heavy-lift vessel on Saturday and were positioned for discharge starting this morning. Matson's acquisition of the new cranes, along with the upgrading of three existing cranes and other improvements…
Matson Christens 'Kaimana Hila'
Largest Containership Built in U.S. Will Serve HawaiiMatson, Inc. and Philly Shipyard, Inc. (PSI) christened the second of two Aloha Class containerships built for Matson in a ceremony at Philly Shipyard on Saturday, March 9. Dubbed Kaimana Hila, it is the sister ship to Daniel K. Inouye, which entered service in November of 2018. "Kaimana Hila" is a Hawaiian transliteration for "Diamond Head," the name of Hawaii's iconic landmark crater near Waikiki Beach. The ships cost $418 million for the pair…
Matson Names Dreyfus VP, Alaska
Matson has announced that Branton B. "Bal" Dreyfus has been appointed vice president, Alaska, succeeding Kenny Gill, who has resigned from the company.In his new role, Dreyfus 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. Dreyfus reports directly to Chairman and CEO Matt Cox.Dreyfus joined Matson in 1993 as General Manager…
Optimarin Sees Early Order Surge in 2019
In the quarter of a century since its formation in 1994, ballast water treatment (BWT) specialist Optimarin has never experienced a year quite like 2018.The Norwegian headquartered firm has revealed that the previous 12 months saw it sell more than 100 systems and achieve record revenues. However, according to company CEO Tore Andersen, 2019 is already shaping up to set a new standard, with the orderbook currently five times the size it was at this point in 2018. Revenues, he says…
First Aloha-Class Ship Delivered to Matson
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…
Matson Launches New U.S. Flag Marshall Islands Service
Matson has launched its new direct U.S. flag service between Honolulu and the Republic of the Marshall Islands ("RMI"), reducing cargo transit times to the RMI from the U.S. mainland by as many as eight days. The new service will call at three ports in the RMI - Kwajalein, Ebeye and Majuro every 17 days. Matson purchased a 700-TEU, U.S.-flagged containership to operate the new service. Christened Kamokuiki, or 'small island or vessel' in the Hawaiian language, the vessel is well suited to serving island communities with two 45 ton cranes onboard…
DeNike Presented with Connie Award
Edward Anthony DeNike, president of SSA Containers, a division of Carrix, received the 2018 Connie Award presented by the Containerization & Intermodal Institute (CII) in Long Beach, Calif., on Tuesday. DeNike was honored for his contributions to containerization and international trade and transportation industry over the course of the last five decades.The dinner event honoring DeNike was held in conjunction with the IANA Intermodal EXPO and attracted more than 250 people."It is no surprise that our recipient, Ed DeNike – an industry legend – has attracted a record-breaking crowd.
Port of Long Beach Awarded $50 Mln for Zero Emissions Project
The drive toward cleaner goods movement continues on the U.S. West Coast. The Port of Long Beach announced Tuesday it has received preliminary approval for a $50 million grant from the California Air Resources Board (CARB) to demonstrate a near-zero and zero-emissions supply chain at the nation’s second-busiest seaport.CARB has preliminarily awarded the grant for the Sustainable Terminals Accelerating Regional Transformation (START) Project, which will demonstrate nearly 100 pieces of zero-emissions terminal equipment and trucks at three California seaports…
The Inouye: The Largest American-Made and American-Crewed Containership Ever Built
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…
Matson Christens First Aloha Class Vessel 'Daniel K. Inouye'
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.
SSA Terminals Extends Marine Lease at Oakland
A major global marine terminal operator has OKd a new Port of Oakland lease that runs through 2027. The agreement includes options that could keep SSA Terminals (Oakland) here to 2042. The Port today characterized the deal as validation for the city’s maritime future. “SSA is an influential player on the waterfront worldwide, and a significant presence in Oakland,” said Port Maritime Director John Driscoll. Oakland’s Board of Port Commissioners approved the new lease last night.
Fukunaga Joins Matson Board
Matson, Inc. shareholders elected Mark H. Fukunaga, Chairman and CEO of Servco Pacific Inc., as a new member of Matson’s board of directors. Concurrently, Matson Chairman and CEO, Matt Cox, announced that the board's independent directors have designated Stanley M. Kuriyama to succeed Jeffrey N. Watanabe, the board's Lead Independent Director, who retired from the board in accordance with a mandatory retirement age policy.
General Dynamics NASSCO Builds Second Matson Containership
General Dynamics NASSCO has started construction on the second ship in a two-ship series of Kanaloa-class containerships for Matson Navigation Company, Inc. Construction of Matsonia began with a ceremonial first cut of steel at NASSCO's San Diego shipyard where the first ship in the series, Lurline, is 15 percent complete. Both ships will transport containers, automobiles and rolling stock between the West Coast of the United States and Hawaii. Using proven design standards, the ship design incorporates liquefied natural gas-capable main and auxiliary engines…
Cargo Ships Slow Transits to Curb Emissions, Protect Whales
Partners in an initiative to cut air pollution and protect whales have announced results from the 2017 program and publicly recognized the 11 shipping companies who participated, reducing speeds to 12 knots or less in two regions. For the first time the program included speed reduction zones in the San Francisco Bay Area in addition to the Santa Barbara Channel region. The voluntary incentive program started July 1 and ended November 15, 2017. Automatic Identification System (AIS)…
Log-In Logística selects COMPAC
The containership segment’s commitment to ocean sustainability has been underscored with another order for Thordon Bearings’ COMPAC water lubricated propeller shaft bearing concept. The decision by Brazil-based cabotage carrier Log-In Logística to select the Thordon solution for a 2700TEU newbuild Log-In Polaris, is indicative of a trend in the sector for mitigating against the risk of oil pollution by adopting the simpler, environmentally-safer water-lubricated propel shaft concept.
Matson to Start U.S. Flag Marshall Islands Route
Matson has announced that it will introduce a new direct U.S. flag service between Honolulu and the Republic of the Marshall Islands ("RMI") that will shorten cargo transit times to the RMI from the U.S. mainland by as many as eight days. The new biweekly service will call at three ports in the RMI — Kwajalein, Ebeye and Majuro — starting in the first quarter of 2018. Matson has entered into an agreement to purchase a 707-TEU, U.S.-flagged containership from Sealift, Inc., of Oyster Bay, NY to operate the new service.
Matson to Upgrade Honolulu Terminal
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.
Matson Launches Okinawa Service
U.S. carrier Matson, Inc. said it has inaugurated service to the port of Naha, Okinawa as part of its expedited China-Long Beach Express (CLX) service. Having received all necessary permits and clearances, the new weekly service made its first call at Naha on September 2, 2017. Westbound transit times to Naha are 17 days from Long Beach, 18 days from Oakland, 21 days from Seattle, and 11 days from Honolulu. Eastbound transits from Naha are 14 days to Long Beach, 17 days to Oakland and 33 days to Seattle.
APM Terminals Tacoma Ends Lease
APM Terminals Tacoma concluded its operations on September 30, 2017, ahead of the December 31, 2017 lease expiration date, transferring the lease to Seattle-based SSA Marine who formed a new joint venture with Matson Lines, called SSAT, starting operations October 2, 2017. APM Terminals Tacoma was used primarily by the Matson Alaska Service, with twice-weekly sailings between Tacoma, Anchorage and Kodiak, Alaska, and a weekly service between Tacoma and Dutch Harbor, Alaska, handling a combined 190,000 TEUs in 2016. APM Terminals’ U.S.
Matson Increases Neighbor Island Barge Capacity
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.
Hapag-Lloyd's Nachbar Appointed to Industry Board
The Container Owners Association – the international organization representing container shipping lines and container leasing companies worldwide – has appointed Frank Nachbar, Director - Container Engineering, Hapag-Lloyd, to its Board of Directors. Nachbar joins six other Directors, who represent some of the world’s largest container owners, on the Board of the Container Owners Association. The COA Board comprises senior representatives from some of the world’s largest container shipping lines and leasing companies…
Philly Shipyard Order Backlog Touches USD 187.7 mln
As of 31 December 2017, Philly Shipyard had an order backlog of USD 187.7 million. The contract with Matson (Hulls 029-030) provides for shipbuilding activity with delivery dates through Q1 2019. On 20 November 2017, Philly Shipyard delivered Hull 028, the final product tanker in the four-ship order for Philly Tankers, a Jones Act shipping company that is majority-owned (but not controlled) by Philly Shipyard. This vessel was delivered to Kinder Morgan, as assignee of Philly Tankers, ten days before its contract delivery date.
Matson Reports Q4 Earnings Per Share $3.90
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…