HONOLULU,
Nov. 25, 2013 /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
Guam/Commonwealth of the Northern Marianas Islands (CNMI) and
Micronesia services by
$275 for both westbound and eastbound containers, effective
January 26, 2014. The increase will be filed with the Surface Transportation Board and the Federal Maritime Commission.
The rate increase also applies to the Commonwealth of the Northern Marianas Islands, the Republic of
Palau, the Federated States of
Micronesia and the Republic of the
Marshall Islands. In addition, Matson will raise its West Coast terminal handling charge by
$75 for both westbound and eastbound containers, also effective
January 26, 2014.
“This is Matson’s first rate increase for
Guam/CNMI and
Micronesia in three years,” said
Dave Hoppes, senior vice president, ocean services.
“During that time, our operating costs have continued to rise, necessitating this adjustment. The increase will also support ongoing investments in our service to the region. 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. Earlier this month, the company announced that it is investing
$418 million in two new 3,600 TEU containerships that will be deployed in our
Hawaii service and will transport
Guam cargo from the U.S. West Coast to Honolulu. Matson remains committed to continuing to provide
Guam and
Micronesia with a modern, reliable ocean transportation infrastructure.” Matson’s terminal handling charge was first implemented in 2003 and is designed to recover a portion of the costs associated with the movement of cargo through terminals. This charge is standard in the industry and appears as a separate line item at the bottom of the company’s freight bills. “Terminal handling costs comprise over 40 percent of Matson’s operating costs,” said Hoppes. “Matson continues to absorb most of the costs associated with terminal operations, the majority of which are driven by factors that are outside of our control, but needs to pass on some of the expenses to our customers.”
About the Company 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. The Company’s fleet of 18 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.
Investor Relations: |
Media inquiries: |
Jerome Holland |
Jeff Hull |
Matson, Inc. |
Matson, Inc. |
510-628-4021 |
510-628-4534 |
SOURCE Matson, Inc.