Matson’s Hawaii service rates to rise in 2015

Matson Inc (NYSE: MATX), a leading US carrier in the Pacific, announced that Matson Navigation Company Inc 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%.
“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,” he said. “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.”
Additional information is available at www.matson.com.

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