MATSON CHRISTENS NEXT ALOHA CLASS VESSEL 'MAKUA'

The replacement ships will arrive LNG-ready, with dual-fuel engines designed for conventional marine fuels or liquefied natural gas.

Rhea-AI Summary

Matson (NYSE: MATX) christened Makua on October 10, the first of three new containerships being built by Hanwha Philly Shipyard.

The vessels represent an investment of approximately $1 billion and will replace three ships in Matson's Hawaii and China-Long Beach Express services. Makua is scheduled for delivery in the first quarter of 2027, followed by the second ship in the third quarter of 2027; the third is expected in the second quarter of 2028. Matson expects the additions to improve operating efficiency and reliability and increase capacity in both services. The new Jones Act-compliant vessels will match the size and speed of its two existing Aloha Class ships.

4 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Matson expects three replacement vessels to improve operating efficiency and reliability and increase Hawaii and China-Long Beach Express capacity.
• Minor point. Forward-looking: it has not happened yet and may not happen.Makua delivery is scheduled for the first quarter of 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.Second vessel delivery is scheduled for the third quarter of 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.Third vessel delivery is expected in the second quarter of 2028.

Negative

• Major pointApproximately $1 billion investment funds construction of the three new containerships. 15% of market cap

Key Figures

Program investment: Approximately $1 billion Vessels in program: 3 vessels Containership capacity: 3,600 TEU +3 more

Program investment

Approximately $1 billion

Three new Jones Act-compliant vessels

Vessels in program

3 vessels

New Aloha Class containerships replacing vessels in Hawaii and CLX services

Containership capacity

3,600 TEU

Aloha Class design; new vessels are being built to match the existing ships

Makua scheduled delivery

First quarter 2027

First vessel

Second vessel scheduled delivery

Third quarter 2027

Second vessel

Third vessel expected delivery

Second quarter 2028

Third vessel

Historical Context

1 past event · Latest: May 05

1 event

1. May 05

   Vessel construction

   24h Move

   -1.9%

   Hull assembly began on the second ship and steel cutting on the third in the same three-vessel program.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

jones act-compliant, dual fuel engines, lng, teu

4 terms

jones act-compliant regulatory

"three new Jones Act-compliant vessels"

A vessel or operation that meets the U.S. Jones Act’s requirements is built, registered, owned and crewed by U.S. interests so it can legally move goods or passengers between U.S. ports. For investors, Jones Act compliance matters because it restricts which ships and companies can serve domestic routes, often raising costs, limiting competition, and creating regulatory barriers that affect revenue, asset value and market access.

dual fuel engines technical

"equipped with dual fuel engines designed to operate"

Engines designed to operate on two different fuels, typically a gaseous fuel (like natural gas or LNG) and a liquid fuel (like diesel), using a single combustion system that can switch between fuels or burn a controlled mixture. In most commercial designs the gaseous fuel supplies the main combustible charge while a small amount of liquid fuel acts as a pilot to initiate combustion; fuel delivery and electronic controls manage switching, proportions, and ignition. The term differs from some “bi‑fuel” setups that carry two independent fuel systems and run on only one fuel at a time; performance, emissions, and allowable fuel mixes depend on the engine’s design and regulatory approvals.

lng technical

"liquefied natural gas (LNG)"

Liquefied natural gas (LNG) is natural gas that has been cooled into a liquid so it takes up far less space for transport and storage, like turning a bulky bundle into a compact package for shipping. Investors care because LNG enables gas trade across regions without pipelines, so changes in production, export capacity, shipping, or demand can quickly affect energy company revenues, infrastructure operators and commodity prices, amplifying both opportunity and risk.

teu technical

"TEU = Twenty-foot Equivalent Units, the standard unit of measurement for container capacity"

TEU stands for twenty-foot equivalent unit, a standard measure of containerized cargo capacity equal to one 20-foot long shipping container. Investors use TEUs to compare the size, throughput and utilization of ships, ports and logistics networks—think of it as counting parking spots for containers—which affects revenue potential, shipping costs and the flow of goods that influence supply chains and company earnings.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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First of Three New Containerships Will Enter Service in 2027

PHILADELPHIA, Oct. 12, 2026 /PRNewswire/ -- Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, and Hanwha Philly Shipyard, Inc. (HPSI), a leading U.S. shipbuilder of ocean-going merchant vessels, christened the first of three new containerships being built for Matson's China-Long Beach Express (CLX) and Hawaii services in a ceremony at Hanwha Philly Shipyard (HPSI) on Saturday, October 10. 

At the ceremony, Matson board member Jenai Wall officially christened the vessel 'Makua' by breaking a ceremonial bottle of champagne against the ship's hull before a gathering of approximately 300 attendees including U.S. Maritime Administration Deputy Administrator Mark Johnson, Matson and HPSI executives, shipyard workers and union leaders. Speakers included U.S. Transportation Command (USTRANSCOM) Deputy Commander Lt. General Jered P. Helwig.

Representing an investment of approximately $1 billion, Matson's three new Jones Act-compliant vessels are being built to match the size and speed of Matson's two existing Aloha Class ships, Daniel K. Inouye, and Kamina Hila, which were also built by HPSI and set a new standard for cargo transportation in Hawaii when they entered service in 2018 and 2019, respectively, as the largest containerships ever constructed in the U.S.

Weighing in at over 51,400 metric tons, Matson's 850-foot long and 3,600-TEU*-capacity Aloha Class containerships are also Matson's fastest vessels, with a top speed of nearly 24 knots, helping ensure on-time deliveries in Hawaii and industry-leading transit times from Asia to the U.S. West Coast. 

Like their sisterships, the new vessels will be equipped with dual fuel engines designed to operate on either conventional marine fuels or liquefied natural gas (LNG), as well as other "green ship technology" features, such as a fuel-efficient hull design, environmentally safe double hull fuel tanks, and freshwater ballast systems. While the earlier ships required some modification to operate with LNG, the new ships will be delivered LNG-ready.

The three new ships will replace three vessels currently deployed in Matson's Hawaii and CLX services. Makua is scheduled for delivery in the first quarter of 2027; the second ship is scheduled to deliver in the third quarter of 2027, and the third is expected in the second quarter of 2028.

"We look forward to putting Makua to work serving our customers early next year," said Matt Cox, chairman and chief executive officer. "We're excited that adding three new Aloha Class ships to Matson's fleet over the next 18 months will improve operating efficiencies and reliability, and increase capacity in our core Hawaii service, as well as our China-Long Beach Express service. And we're proud that building them here supports hundreds of good-paying shipyard jobs and will provide more than 2,500 job opportunities for U.S. mariners over the lifespan of each ship."

HPSI is a leading U.S. commercial shipyard constructing vessels for operation in the domestic Jones Act trade lanes. Prior to Matson's first two Aloha Class ships, the shipyard delivered four newly built Jones Act containerships for Matson between 2003 and 2006.

"Today's christening of Makua is especially meaningful because Matson has been part of the story of this shipyard from its earliest days," said David Kim, CEO of HPSI. "Our partnership spans generations of vessels and reflects a shared commitment to American shipbuilding and the U.S. maritime industry. We are grateful for Matson's continued trust in our people, and incredibly proud of the skill and craftsmanship our workforce is bringing to Makua and the next generation of Aloha Class ships."

Matson plans to name the other two new containerships Malama and Makena. Founded in 1882 as a Hawaii-focused business, Matson has a long tradition of giving Hawaiian names to its vessels serving Hawaii, and also reusing vessel names from the early 20th century. 

Matson's original ships named Makua, Malama, and Makena were all freighters commissioned by the United States Shipping Board (USSB), an emergency agency established by the 1916 Shipping Act to increase the number of U.S. ships supporting the war effort during World War I. They were purchased by Matson in the 1920s and remained active in the Matson fleet for the next two decades.

Makua ("mah-KOO-ah") is a Hawaiian word for parent, elder, ancestor, or family.
Malama ("MAH-lah-mah") is a Hawaiian word meaning to care for or protect.
Makena ("Mah-KEN-ah") is a Hawaiian word for abundance.

More information on Makua and Matson's fleet modernization program is available at www.Matson.com.

* TEU = Twenty-foot Equivalent Units, the standard unit of measurement for container capacity

About Matson

Founded in 1882, Matson (NYSE: MATX) is a leading provider of ocean transportation and logistics services. Matson provides a vital lifeline of ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, and to other island economies in Micronesia. Matson also operates premium, expedited services from China to Long Beach, California, which includes cargo from other Asia origins, provides services to Okinawa, Japan and various islands in the South Pacific, and operates an international export service from Alaska to Asia. The Company's fleet of owned and chartered vessels includes containerships, combination container and roll-on/roll-off ships and barges. Matson Logistics, established in 1987, extends the geographic reach of Matson's transportation network throughout North America and Asia. Its integrated logistics services include rail intermodal, highway brokerage, warehousing, freight consolidation, supply chain management, and freight forwarding to Alaska. Additional information about the Company is available at www.matson.com.

About Hanwha Philly Shipyard, Inc.
Hanwha Philly Shipyard, Inc. (HPSI) is a leading U.S. shipbuilder with a state-of-the-art shipbuilding facility that has earned a reputation as a preferred provider of ocean-going merchant vessels with a track record of delivering quality ships, having delivered around 50% of all large ocean-going U.S. Jones Act commercial ships since 2000.

The Shipyard is part of Hanwha Group, a multinational company with a robust network of affiliates in the energy, ocean, aerospace, finance, and retail & services industries.

For more information, visit www.hanwhaphillyshipyard.com.

Matson Investor Relations inquiries:	Matson News Media inquiries:	Hanwha Philly Shipyard Media inquiries:
Justin Schoenberg	Keoni Wagner	Kelly Whitaker
Matson, Inc.	Matson, Inc.	Philly Shipyard, Inc.
510.628.4234	510.628.4534	215-875-2640
jschoenberg@matson.com	kwagner@matson.com	kelly.whitaker@phillyshipyard.com

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SOURCE Matson, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When will Matson's new containership Makua be delivered?

Makua is scheduled for delivery in the first quarter of 2027. The second new ship is scheduled for delivery in the third quarter of 2027, and the third is expected in the second quarter of 2028.

Will Matson's new Aloha Class ships be ready to use LNG?

The three new ships will be delivered LNG-ready, with dual-fuel engines designed to operate on conventional marine fuels or liquefied natural gas. Matson's earlier Aloha Class ships required some modification to operate with LNG.