MATSON BEGINS CONSTRUCTION ON FIRST OF THREE NEW LNG-POWERED ALOHA CLASS CONTAINERSHIPS

Core Points - Matson, Inc. has initiated the construction of three new "Aloha Class" containerships as part of a $1 billion investment aimed at enhancing its services to Hawaii and the China-Long Beach Express [1][2] - The new vessels will feature dual fuel engines capable of operating on conventional marine fuels or liquefied natural gas (LNG), along with advanced green ship technologies [2][3] - The first vessel is expected to be delivered in Q4 2026, with subsequent deliveries in 2027, contributing to Matson's goal of reducing greenhouse gas emissions by 40% by 2030 [3][4] Investment and Construction Details - The investment of approximately $1 billion will fund the construction of three Jones Act-compliant vessels, which will match the size and speed of Matson's existing Aloha Class ships [2][4] - The new Aloha Class vessels will have a carrying capacity of 3,600 TEU and are designed to operate at speeds exceeding 23 knots [3][4] Environmental Goals - Matson aims to achieve a 40% reduction in Scope 1 greenhouse gas emissions by 2030 and net-zero Scope 1 emissions by 2050 [3][4] - The new ships are expected to help Matson meet its environmental targets while providing additional capacity and speed for its services [3][4] Historical Context and Naming - The new vessels will be named Makua, Malama, and Makena, continuing Matson's tradition of using Hawaiian names for its ships [4][5] - The original ships with these names were commissioned by the U.S. Shipping Board during World War I and were active in the Matson fleet for two decades [5]