Company Overview of Matson Navigation Company, Inc.
Matson Navigation Company, Inc. provides ocean freight transportation services. The company offers ocean, intermodal, and logistics transportation services. It also provides containerized freight and automobiles services between the West Coast and Hawaii, and Guam and Mid-Pacific. In addition, it offers container stevedoring, and terminal and equipment maintenance services. The company also provides container and chassis leasing services. The company was founded in 1882 and is based in Oakland, California. Matson Navigation Company, Inc. operates as a subsidiary of Matson, Inc.
555 12th Street
Oakland, CA 94607
Founded in 1882
Key Executives for Matson Navigation Company, Inc.
Chief Executive Officer and President
Vice President of Government and Community Relations
Vice President of Transpacific Services
Compensation as of Fiscal Year 2016.
Matson Navigation Company, Inc. Key Developments
Matson Navigation Company, Inc. Signs Contract With General Dynamics NASSCO to Build Two New Con-Ro Ships For Hawaii Service
Aug 25 16
Matson, Inc. announced that its subsidiary, Matson Navigation Company, Inc. has signed a contract with General Dynamics NASSCO to build two new combination container and roll-on/roll-off ("Con-Ro") vessels for its Hawaii fleet at a contract price of $511 million for both vessels with deliveries scheduled for the end of 2019 and mid-year 2020. Matson is calling these vessels the Kanaloa Class in honor of the ocean deity revered in the native Hawaiian culture and will name each of the new vessels after predecessor ships from its 134 year history. The first vessel will be named Lurline, the sixth Matson vessel to carry that name, while the second vessel will be its fifth named Matsonia. The Kanaloa Class vessels will be built on a 3,500 TEU vessel platform, which is 265 meters long, 34.9 meters wide (beam), with a deep draft of 11.5 meters and enclosed garage space for up to 800 vehicles. In addition, the new vessels will have green technology features, including a fuel efficient hull design, environmentally safe double hull fuel tanks, fresh water ballast systems and dual-fuel engines, meaning that they will be able to operate at speeds up to 23 knots on either conventional fuel oils or liquefied natural gas ("LNG") with some adaptation for LNG. These advancements are important to Hawaii as a means to reduce fuel consumption, and will result in significant emissions reductions over time. The two Kanaloa Class ships will replace three diesel powered vessels in active service, which will be moved to reserve status. With delivery of the Kanaloa Class ships, along with its two new Aloha Class ships, Matson will have completed the renewal of its Hawaii fleet, allowing it to retire its seven older steamship vessels that will no longer comply with environmental regulations in 2020 without substantial modification. The larger capacity of the Aloha Class and Kanaloa Class vessels will allow Matson to return to an optimal nine-ship fleet deployment in Hawaii, increasing efficiency and lowering operating costs. The Kanaloa Class vessels are expected to be more fuel efficient than the ships they will replace and will add rolling stock carrying capacity while lowering operating, repair and maintenance, and dry-docking costs.
Matson Navigation Co. Inc. Wins $47,647,499 Contract
Feb 27 16
Matson Navigation Co. Inc. was awarded a task order modification valued at up to $47,647,499 by the U.S. Transportation Command, Scott Air Force Base, Illinois, for international ocean and intermodal distribution services.
Matson Navigation Company, Inc. Announces Tender Offer, Consent Solicitation for Horizon Lines, Inc.'s Convertible Notes
May 18 15
Matson, Inc. announced that its wholly-owned subsidiary Matson Navigation Company, Inc. has commenced a cash tender offer and consent solicitation for any and all of the approximately $2 million outstanding principal amount of 6.00% Series A Convertible Senior Secured Notes due 2017 of Horizon Lines, Inc. The offer is being made in connection with Matson Navigation's previously announced agreement to acquire Horizon pursuant to the merger transaction. The offer is described in the offer to Purchase and Consent Solicitation Statement dated May 18, 2015. The offer will expire on June 15, 2015 unless extended or earlier terminated. Holders of the notes who validly tender their Notes and deliver their consents to the proposed amendments to the indenture governing the notes prior to the consent payment deadline on May 26, 2015, unless extended, will receive the total consideration of $1,040 per $1,000 principal amount of the notes, which includes a consent payment of $30 per $1,000 principal amount of the notes, plus any accrued and unpaid interest from the last interest payment date on the Notes up to, but not including, the settlement date for such notes. The offer contemplates an early settlement option, such that any Holders who validly tender notes and deliver Consents prior to the Consent Expiration that are accepted for purchase could receive payment as early as May 27, 2015. Holders who validly tender their notes after the Consent Expiration but prior to the Expiration Time will be entitled to receive the tender offer consideration of $1,040 per $1,000 principal amount of the Notes, plus any accrued and unpaid interest on the Notes up to, but not including, the settlement date for such notes. Holders of notes tendered after the Consent Expiration will not receive a consent payment.
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