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Wednesday, November 25, 2015
Matson Admits Rate Hikes Caused by Expensive Jones Act Ships
By News Release @ 12:05 PM :: 4969 Views :: Jones Act

Matson to File Rate Increases for 2016

News Release from Matson

HONOLULU, Nov. 24, 2015 -- Matson, Inc. (NYSE: MATX), announced today that Matson Navigation Company, Inc. (Matson) 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 percent for the majority of Matson's customers, is designed to help offset increasing costs of operation and support continuing investment in improvements to Matson'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.  Last month, the company commenced construction on two new 3,600 TEU 'Aloha Class' containerships that are 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, senior vice president, Ocean Services.

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SA: Matson raising rates by 5%

2013: Matson's New Jones Act Ships Deemed an “Expensive Luxury”

2014: Matson Hikes Rates 5.4%

2015: VIDEO: McCain Rips Matson's Overpriced Ships on Senate Floor


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