Matson, Inc., a holding company incorporated in January 2012, in the State
of Hawaii, and its subsidiaries, is a leading provider of ocean transportation
and logistics services. The Company consists of two segments, Ocean Transportation
and Logistics.
Ocean Transportation: Matson’s Ocean Transportation business is conducted
through Matson Navigation Company, Inc. (“MatNav”), a wholly-owned
subsidiary of Matson, Inc. Founded in 1882, MatNav is an asset-based business
that provides a vital lifeline of ocean freight transportation services to the
island economies of Hawaii, Guam and Micronesia, and also operates a premium,
expedited service from China to Long Beach, California. In January 2013, Matson
began providing ocean services to various islands in the South Pacific including
New Zealand, Fiji, Samoa, American Samoa, Tonga and the Cook Islands, and later
expanded service to include Australia to the Solomon Islands, and Nauru. Matson’s
fleet consists of 18 owned and three chartered vessels including containerships,
combination container/roll-on/roll-off ships, and custom-designed barges.
Matson also provides container stevedoring, container equipment maintenance
and other terminal services for MatNav and other ocean carriers through Matson
Terminals, Inc. (“Matson Terminals”), a wholly-owned subsidiary
of MatNav, on the islands of Oahu, Hawaii, Maui and Kauai.
Matson has a 35 percent 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 U.S. West Coast, including to MatNav at several
of those facilities. Matson records its share of income in the joint venture
in operating expenses within the Ocean Transportation segment due to the nature
of SSAT’s operations.
Logistics: Matson’s Logistics business is conducted through Matson Logistics,
Inc. a wholly-owned subsidiary of MatNav. Established in 1987, Matson Logistics
is an asset-light business that provides multimodal transportation, including
domestic and international rail intermodal service (“Intermodal”);
long-haul and regional highway brokerage, specialized hauling, flat-bed and
project work, less-than-truckload services, expedited freight services (collectively
“Highway”); and warehousing and distribution services. The warehousing
and distribution services are provided in the U.S. by Matson Logistics Warehousing,
Inc. (“Matson Logistics Warehousing”), a wholly-owned subsidiary
of Matson Logistics.
