Profile: Matson Inc (MATX.N)
1 May 2015
Matson, Inc. (Matson), incorporated on January 25, 2012, is a holding company. The Company is engaged in providing ocean transportation and logistics services. It has two segments, ocean transportation and logistics.
Matson’s fleet includes 18 owned and three chartered vessels. The Matson-owned fleet consists of 11 containerships; three combination container/roll-on/roll-off ships; one roll-on/roll-off barge; and three container barges equipped with cranes.
Matson’s ocean transportation business is conducted through Matson Navigation Company, Inc. (MatNav), a wholly-owned subsidiary of Matson. MatNav is an asset-based business that provides ocean freight transportation services to Hawaii, Guam, Micronesia, and various islands in the South Pacific. MatNav also operates expedited service from China to Long Beach, California. In addition, a subsidiary of MatNav provides container stevedoring, container equipment maintenance and other terminal services for MatNav and other ocean carriers on the islands of Oahu, Hawaii, Maui and Kauai. The Company has a 35% ownership interest in SSA Terminals, LLC (SSAT) through a joint venture between Matson Ventures, Inc., a wholly-owned subsidiary of MatNav, and SSA Ventures, Inc. (SSA), a subsidiary of Carrix, Inc. SSAT provides terminal and stevedoring services to various carriers at six terminal facilities on the Pacific Coast of the United States.
Matson’s Hawaii service provides ocean freight services (lift-on/lift-off, roll-on/roll-off and conventional services) between the ports of Long Beach, Oakland, Seattle, and the major ports in Hawaii on the islands of Oahu, Kauai, Maui and Hawaii. Matson is a carrier of ocean cargo between the United States Pacific Coast and Hawaii. Westbound cargo carried by Matson to Hawaii includes dry containers of mixed commodities, refrigerated commodities, packaged foods, building materials, automobiles and household goods. Matson’s eastbound cargo from Hawaii includes automobiles, household goods, dry containers of mixed commodities, food and beverages, and livestock.
Matson’s China service is part of an integrated Hawaii/Guam/China service. This service employs five of Matson’s containerships in a weekly service that carries cargo from Long Beach to Honolulu and then to Guam. Matson’s Guam service provides weekly container and conventional freight services between the United States Pacific Coast and Guam. Additionally, the Company provides freight services from Guam to the Commonwealth of the Northern Mariana Islands. Its Micronesia service provides container and conventional freight services between the United States Pacific Coast and the islands of Kwajalein, Ebeye and Majuro in the Republic of the Marshall Islands, the islands of Yap, Pohnpei, Chuuk and Kosrae in the Federated States of Micronesia, and the Republic of Palau. Cargo destined for these locations is transshipped through Guam.
The Company’s logistics business is conducted through Matson Logistics, Inc. (Matson Logistics), a wholly-owned subsidiary of MatNav. Matson Logistics is an asset-light business that provides multimodal transportation services, including domestic and international rail intermodal service; long-haul and regional highway brokerage, specialized hauling, flat-bed and project services, less-than-truckload services, and expedited freight services; and warehousing and distribution services.
Matson Logistics operates six customer service centers, including one in China (for supply chain services), and has sales offices throughout the United States. Matson Logistics also provides freight forwarding, consolidation, customs brokerage, purchase order management and non-vessel operating common carrier services. Matson Logistics Warehousing principally provides warehousing and distribution services in Northern and Southern California, and Savannah, Georgia. Through Matson Logistics Warehousing, Matson Logistics provides its customers with a full suite of rail, highway, warehousing and distribution services.
The Company competes with Horizon Lines, Inc.; Pasha Hawaii Transport Lines, LLC; Maersk; COSCO; Evergreen; Hanjin; APL; China Shipping; Hyundai; MSC; OOCL; “K” Line; NYK Line; C.H. Robinson Worldwide; and the Hub Group.
1411 Sand Island Pkwy
HONOLULU HI 96819-4322