Matson will raise rates for Hawaii service

Matson Inc (NYSE: MATX) announced that Matson Navigation Company Inc will raise its cargo rates for Hawaii service by $225 per westbound container and $110 per eastbound container, effective January 3, 2016.

The adjustment, which will represent an increase of less than 5% for the majority of Matson’s customers, is designed to help offset increasing costs of operation and support continuing investment in improvements to the firm’s Hawaii service.

Matson has invested nearly $1 billion in new containerships, fleet enhancements, new container equipment, information technology improvements, and upgrades to its terminal facilities in recent years. In October 2015, the company commenced construction on two new 3,600 TEU Aloha Class containerships designed specifically for Hawaii service and scheduled to launch in 2018.

“Matson remains committed to investing in our service to ensure that Hawaii continues to have a modern, reliable, and efficient ocean transportation infrastructure,” said John Lauer, the firm’s senior vice-president, ocean services.

Founded in 1882, Matson is a leading US carrier in the Pacific. Providing a lifeline to the economies of Hawaii, Alaska, Guam, Micronesia, and select South Pacific islands, it operates an expedited service from China to Southern California. The company’s fleet of 25 vessels includes containerships, combination container and roll-on/roll-off ships, and custom-designed barges.

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