HONOLULU, Nov. 25, 2014 /PRNewswire/ -- Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $225 per westbound container and $110 per eastbound container, effective January 4, 2015. The increase will be filed with the Surface Transportation Board. No adjustment will be made to the company's terminal handling charge (THC). Matson estimates that the rate adjustment will result in shipping costs rising by an average of
5.4% percent.
"This rate increase will help offset rises in operating costs and support ongoing investments in our Hawaii service," said Dave Hoppes, senior vice president, ocean services. "The adjustment is consistent with our longstanding philosophy of implementing modest, incremental increases as necessary to maintain the highest levels of service, and is identical to increases implemented in 2012, 2013 and 2014. Matson continues to diligently look for ways to operate the most efficient, cost effective service possible, without undercutting our standards of quality. In the past decade, Matson has invested nearly $1 billion in four new containerships, fleet enhancements, new container
equipment, information technology and upgrades to its terminal facilities. Last year, the company signed a contract to build two 'Aloha Class' 3,600 TEU containerships for our Hawaii service at an aggregate price of $418 million. Matson remains committed to continuing to make long term investments that will provide the state with a modern, reliable ocean transportation infrastructure."
About Matson
Founded in 1882, Matson is a leading U.S. carrier in the Pacific. Matson provides a vital lifeline to the island economies of Hawaii, Guam, Micronesia and select South Pacific islands, and operates a premium, expedited service from China to Southern California. Matson's fleet of 21 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 and warehousing. Additional information about Matson, Inc. is available at www.matson.com.
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SOURCE Matson, Inc.
