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Matson Navigation Company
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February 24, 2005
Matson Plans New Guam, China Services for 2006
Purchase of Two New U.S.-built Containerships Announced

OAKLAND, CA - February 24, 2005 -- Matson Navigation Company, Inc. (Matson), the ocean transportation subsidiary of Alexander & Baldwin, Inc. (NASDAQ:ALEX), announced today that it intends to invest $365 million in vessel, container and terminal assets to launch a new Guam and China service beginning in February 2006 when its present ten-year alliance agreement expires with APL. As a key element of that plan, the company has entered into cash on delivery purchase contracts for two new U.S.-built containerships with Kvaerner Philadelphia Shipyard, Inc. (KPSI).

February 24, 2005
WEB CAST TO DESCRIBE MATSON'S NEW GUAM CHINA SERVICE - New Ships Resolve Guam Service Replacement Dilemma, Add Upside

Honolulu (February 24, 2005)-- Alexander & Baldwin, Inc. (NASDAQ:ALEX) will conduct a web cast on the subject of the just-announced new Guam China service by its subsidiary, Matson Navigation Company, Inc. The web cast will be at 11:30 a.m. EST on Friday, February 25. Participants will be Allen Doane, A&B president and chief executive officer, James Andrasick, Matson president and chief executive officer and Chris Benjamin, A&B vice president and chief financial officer. Listeners can access the web cast on A&B's corporate website, www.alexanderbaldwin.com via a link called "Matson's Guam China Service Web Cast, February 25, 2005, 11:30 a.m. EST.

July 18, 2004
New Matson Containership MV Maunawili Christened in Philadelphia

PHILADELPHIA - July 18, 2004 -- Matson Navigation Company, Inc.’s (Matson) new containership MV Maunawili was christened Saturday, July 17 at Kvaerner Philadelphia Shipyard, Inc.(KPSI) by Ms. Maryanna G. Shaw, great grand-daughter of Samuel T. Alexander, one of the founders of Matson’s parent company, Alexander and Baldwin, Inc. (A&B). The vessel is the second of a two-ship, $220 million contract with KPSI. Among those present for the ceremony were Charles M. Stockholm, chairman of the board, A&B, Allen Doane, president and CEO, A&B, James Andrasick, president and CEO, Matson, and the event’s keynote speaker, Lt. General Gary Hughey, deputy commander of U.S. Transportation Command (TRANSCOM).

October 5, 2003
Matson's New MV Manukai Arrives in Honolulu on its Inaugural Voyage

HONOLULU - Matson Navigation Company, Inc's (Matson) new 712-foot containership MV Manukai arrived October 5 in Honolulu on its inaugural voyage. The vessel is the first new containership built for Hawaii in the 21st century and is the first new build to enter the Matson fleet since the MV R. J. Pfeiffer in 1992. The ship has the capacity to carry 2,600 containers (twenty foot equivalent units) and will be deployed in Matson's Hawaii service between Long Beach and Honolulu. It is the first of two new Matson containerships being built at Kvaerner Philadelphia Shipyard, Inc. (KPSI) at a cost of $110 million each. The second vessel, MV Maunawili, is scheduled to be delivered in mid-2004.

July 12, 2003
New Matson Containership MV Manukai Christened in Philadelphia

PHILADELPHIA - July 12, 2003 -- Matson Navigation Company, Inc's (Matson) new containership MV Manukai was christened today by Mrs. Margaret Inouye, wife of Senator Daniel K. Inouye of Hawaii, at a ceremony held at Philadelphia Kvaerner Shipyard, Inc. (KPSI). The vessel is the first of a two-ship, $220 million contract with KPSI. Among those present for the ceremony were Senator Inouye, Governor Edward G. Rendell of Pennsylvania, Charles M. Stockholm, chairman of the board, Alexander and Baldwin, Inc., and Allen Doane, president and CEO, Alexander and Baldwin, Inc., and chairman of the board, Matson.

View Pictures of the MV Manukai Christening
(KPSI) Slide Show of the MV Manukai Christening

May 20, 2003
New Agreements Reached with Offshore Unions;
Matson to Proceed with Purchase of KPSI Vessels

SAN FRANCISCO - May 20, 2003 -- Matson Navigation Company has reached agreements with its offshore unions that will allow the company to proceed with the purchase of the two new containerships currently under construction at Kvaerner Philadelphia Shipyard, Inc. (KPSI). As a result of the cooperative efforts of these maritime unions, Matson will be able to operate the new ships under a cost model that justifies the significant financial investment. The first of the two new ships will enter Matson's Hawaii service later this year; the second will be delivered in 2004.

May 29, 2002
A&B's Matson to Invest $220 Million in New Ships For Its Hawaii Service; Company Will Tap Existing $170 Million Capital Construction Fund

HONOLULU, May 29, 2002 (BUSINESS WIRE) -- As expected, Matson Navigation Company, Inc., the ocean transportation subsidiary of Alexander & Baldwin, Inc. (NASDAQ:ALEX), today signed a contract to purchase two new container ships, to be built in the United States...
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Page last modified: Sat February 22, 2014