Matson Promotes Three
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 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 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…
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.
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.
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…
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.
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 Nabs Top Ocean Carrier Honor
For the third consecutive year, Matson, Inc. (NYSE: MATX) subsidiary Matson Navigation Company, a leading U.S. carrier in the Pacific, has been rated by shipping customers as the top ocean carrier in the world. The Number One ranking was bestowed by Logistics Management magazine and Peerless Research Group (PRG), whose annual Quest for Quality Awards survey of qualified buyers of transportation and logistics services is considered the most important measure of customer satisfaction and performance excellence in the industry.
Matson Donations Top $2 Million in 2015
Funded by the businesses of container shipper Matson, Inc., the Matson Foundation last year provided more than $2 million in cash and in-kind donations to charitable organizations and community efforts in Matson's service areas including Hawaii, the Pacific (Guam, Micronesia, the South Pacific), and across the U.S. Mainland and Alaska. "As a Hawaii corporation, we demonstrate our reliability and commitment to this state in many ways, and our communities can count on Matson to be a charitable partner as well," said Matt Cox, president & CEO of Matson, Inc. and president of Matson Foundation.
Matson Appoints Communications Director
Matson, Inc., a U.S. carrier in the Pacific, has appointed Keoni Wagner as director of corporate communications, succeeding Jeff Hull, who is retiring from Matson after a 33-year career with the company. Wagner will report to Matt Cox, president and chief executive officer, and is based at Matson's corporate office in Oakland, Calif. Wagner most recently served as public information officer and spokesman for Oakland International Airport. Prior to that, he served as vice president of public affairs at Hawaiian Airlines, based in Honolulu.
Matson Declares 2Q EPS Of $0.23
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…
Matson Pumps $30 Million into Alaska Operations
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 Promotes Gill as Alaska VP
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…
Top US Shipping Execs to Receive USS Awards
Anthony Chiarello, Matthew J. Cox and James C. The United Seamen's Service (USS) 2015 Admiral of the Ocean Sea Awards (AOTOS) will be presented to Anthony Chiarello, President and CEO of TOTE; Matthew J. Cox, President/CEO of Matson Inc.; and James C. McKenna, President and CEO of Pacific Maritime Association. The maritime industry awards are to be presented at the 46th annual gala industry dinner and dance in New York on November 13, 2015. Recognition will also be given to American seafarers for specific acts of bravery and heroism while at sea.
Matson Senior VP Hoppes to Retire
Dave Hoppes, Matson’s senior vice president, ocean services, will retire March 31, 2015, the company announced. John Lauer, currently vice president, Transpacific services at the company's wholly-owned subsidiary, Matson Navigation Company, Inc., will succeed Hoppes as senior vice president, ocean services, effective March 31, 2015. The company also announced that Chris Scott, currently director, Asia at Matson Navigation Company, will succeed Lauer as vice president, Transpacific services at Matson Navigation Company, effective March 31, 2015, as part of the transition plan.
Matson Announces Quarterly Dividend
The Board of Directors of Matson, Inc. ("Matson" or the "Company") (NYSE: MATX), a U.S. carrier in the Pacific, has declared a fourth quarter dividend of $0.17 per common share. The dividend will be paid on December 4, 2014 to all shareholders of record as of the close of business on November 6, 2014. "Today's dividend declaration reflects the solid foundation of our core businesses and the continued confidence we hold in our ability to generate strong cash flows," said Matt Cox, Matson's President and Chief Executive Officer.
Matson Reports Solid Q2 2014 Results, Dividend Increased
Leading U.S. carrier in the PacificMatson, Inc. reported net income of $18.1 million or $0.42 per diluted share for the quarter ended June 30, 2014, compared with $20.1 million or $0.47 per diluted share in 2013. Consolidated revenue for the second quarter 2014 was $436.4 million compared with $416.6 million in 2013. Matt Cox, Matson's President and Chief Executive Officer, commented, "We had another solid quarter, benefiting from higher freight yields in our major trade lanes, improved lift volumes at SSAT and continuing improvements at Logistics. Mr.
Matson Q1 2014 Profits Slip, Market Growth Expected
Leading US carrier in the Pacific Matson report that in the first quarter of 2014 its financial results were negatively impacted by the timing of fuel surcharge collections. Matt Cox, Matson's President and Chief Executive Officer, commented, "Our businesses performed as we anticipated in the first quarter of 2014, driven by sustained demand in our core markets and continued freight rate strength in all of our markets. And while the timing of fuel surcharge collections significantly impacted financial results during this quarter…
Heilmann Takes Over for Retiring Matson Senior VP
Matson, Inc., a U.S. carrier in the Pacific, announced today that Kevin O'Rourke, senior vice president and chief legal officer, is retiring after 21 years with Matson. O'Rourke will be succeeded by Peter Heilmann, who has been promoted to senior vice president and chief legal officer. O'Rourke joined Matson in 1992 as vice president and general counsel. He was promoted to senior vice president in 1995. His career has included over 30 years of experience in domestic and international maritime law. He has a thorough knowledge of the industry's federal regulatory bodies and government agencies.
Matson, Aker Ink Shipbuilding Deal
Matson Signs Contract With Aker Philadelphia Shipyard For Two New "Aloha Class" Containerships, First Ship To Be Named The Daniel K. Inouye. Matson, Inc., a U.S. carrier in the Pacific, announced today that its subsidiary, Matson Navigation Company, Inc., has signed a contract with Aker Philadelphia Shipyard Inc. (APSI) to build two new 3,600 TEU containerships for an aggregate price of $418 million. The new vessels will be equipped with dual fuel engines that have liquefied natural gas (LNG) capability and are expected to be delivered in the third and fourth quarters of 2018.
Matson to Pay Quarterly Dividend
The Board of Directors of leading US carrier in the Pacific, Matson Inc., declares its second quarter cash dividend of $0.15 per share. "I am pleased to announce that our Board of Directors have authorized our second quarter 2013 dividend," said Matt Cox , Matson's President and Chief Executive Officer. The dividend is payable June 6, 2013 to Matson shareholders of record as of the close of business on May 9, 2013. Founded in 1882, Matson is a leading U.S. carrier in the Pacific.
Matson Report Solid Financial Profits
Matson, Inc. a leading U.S. carrier in the Pacific, did well in Q4 2012 and the whole year; believes it can do better. Consolidated revenue for the fourth quarter 2012 was $398.3 million compared with $374.9 million reported for the fourth quarter 2011, and consolidated revenue for the full year 2012 was $1,560.0 million, compared with $1,462.6 million in 2011. Matt Cox, Matson's President and Chief Executive Officer commented, "Continued strong Guam volume and an improved rate environment in our expedited China service led to a solid fourth quarter.
Matson Pays Out First Quarter Cash Dividend
Matson, Inc., a leading U.S. carrier in the Pacific, declares a first quarter 2013 cash dividend of $0.15 per share. "The strong cash flows generated from our core businesses allow us to support a solid dividend to our shareholders," said Matt Cox , Matson's President and Chief Executive Officer. The dividend is payable March 7, 2013 to Matson shareholders of record as of the close of business on February 14, 2013. Founded in 1882, Matson is a leading U.S. carrier in the Pacific.
Matson Acquisition Extends South Pacific Reach
Matson, Inc. agrees to acquire the primary assets formerly owned by Reef Shipping, a South Pacific shipping company based in Auckland, New Zealand. The assets to be acquired include four vessels and approximately 1,500 pieces of container equipment. The financial terms of the agreement were not disclosed and the closing of the transaction is expected to occur on or about year-end. "With this acquisition, Matson continues to expand its geographic reach into the South Pacific, and build on its well-earned expertise as a Pacific island carrier," said Matt Cox , president and CEO.
Matson Report Increased Operating Income in Q2 2012
Matson, Inc. announces its second quarter 2012 financial results. The financial results for the second quarter and first six months of 2012 reflect Matson's separation from its former parent corporation, Alexander & Baldwin, Inc., on June 29, 2012. The separation of Matson from A&B was originally announced on December 1, 2011. Commenting on the quarter, President and Chief Executive Officer Matt Cox said, "While we are reporting improved operating income for the second quarter compared with last year…