Matson, Hanwha Philly Shipyard Mark "Aloha Class" Ship Construction Milestone with Dock-Mounting Ceremony

Rhea-AI Summary

Matson (NYSE: MATX) and Hanwha Philly Shipyard marked a significant milestone in the construction of their first new Aloha Class containership with a traditional dock-mounting ceremony. The event featured the placement of the first 420-metric-ton engine room section into dry dock, accompanied by the ceremonial coin placement.

The new vessel is part of a series of three 854-foot containerships to be delivered in 2027 and 2028. These ships will feature 3,600 TEU capacity, speeds exceeding 23 knots, and dual-fuel engines capable of using LNG. The vessels, to be named Makua, Malama, and Makena, will serve Matson's Hawaii, Guam, and China-Long Beach Express routes, replacing three existing vessels.

Positive

• New vessels feature dual-fuel engines with LNG capability, improving fuel efficiency
• Ships will have 3,600 TEU capacity and speeds exceeding 23 knots
• Project supports 1,500 American jobs and creates opportunities for American mariners
• Vessels will enhance service capabilities in Asia-U.S. trade lane

Negative

• None.

Insights

Shipping Industry Analyst

Matson's fleet modernization with three new Aloha Class ships will enhance operational efficiency and service capabilities while supporting Jones Act compliance.

Matson's dock-mounting ceremony marks significant progress in its fleet modernization strategy with three new 854-foot Aloha Class containerships scheduled for delivery in 2027-2028. These vessels represent important capital investments that will replace three older ships across Matson's Hawaii, Guam, and China-Long Beach Express services.

The new containerships offer three key operational advantages: larger capacity (3,600 TEU), higher speeds (exceeding 23 knots), and improved fuel efficiency through dual-fuel engines capable of operating on LNG. This combination addresses the critical balance shipping companies must strike between capacity, speed, and fuel consumption.

This investment strengthens Matson's position in the Jones Act market, which requires vessels operating between U.S. ports to be American-built, owned, and crewed. By partnering with Hanwha Philly Shipyard, Matson maintains compliance while supporting approximately 1,500 American shipbuilding jobs. The relationship between these companies spans over two decades and multiple vessel series, indicating a stable, productive partnership for complex maritime construction projects.

The dual-fuel capability aligns with the maritime industry's gradual shift toward cleaner fuels, potentially positioning Matson to better manage future environmental regulations and fuel price volatility. While the financial terms aren't disclosed, this multi-vessel order represents a substantial long-term capital commitment that will influence Matson's balance sheet and operational capabilities through the next decade.

PHILADELPHIA, Aug. 4, 2025 /PRNewswire/ -- Hanwha Philly Shipyard, Inc. (HPSI), a wholly-owned U.S. subsidiary of Hanwha Systems and Hanwha Ocean, and Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, today marked an important milestone in the construction of the first of three new "Aloha Class" containerships to be delivered to Matson in 2027 and 2028. Matson plans to deploy the new vessels in its Hawaii, Guam, and China-Long Beach Express (CLX) services.

During the event, the first engine room section of the vessel — weighing 420 metric tons — was lowered into the dry dock, marking the official start of hull assembly. In keeping with maritime tradition, senior executives from both companies placed ceremonial coins beneath the section to invoke good fortune and safe passage for the ship.

The ceremony, which marks the lowering of the first "grand block" segment of a new vessel's hull into the construction dry dock, was attended by a team of Matson executives led by Capt. Jack Sullivan, Senior Vice President of Vessel Operations & Engineering, and Archibald Morgan, Vice President of New Construction and Marine Engineering at Matson, along with HPSI representatives David Kim, CEO, and John Bond, Project Director and NSMV Program Manager.

"These new ships are just the latest Jones Act vessels Matson has built with Philly Shipyard over the past 22 years, supporting 1,500 jobs for skilled American workers and providing additional opportunities for American mariners," said Matt Cox, Chairman and Chief Executive Officer of Matson.

"Our existing Aloha Class ships are among the fastest, most efficient vessels in the Matson fleet," added Cox. "These new vessels will expand Matson's Jones Act fleet and enhance our service capabilities in the Asia-U.S. trade lane, while providing additional capacity and speed benefitting customers of our Hawaii and Guam services."

The 854-foot Aloha Class ships will each have a carrying capacity of 3,600 TEU* and are designed to operate at speeds exceeding 23 knots, supporting Matson's reputation for fast, reliable delivery across its Hawaii, Guam, and CLX trade lanes. The new vessels also feature a more fuel-efficient hull design and dual-fuel engines that will allow operation on liquefied natural gas (LNG) from delivery.

The three new Aloha Class ships will replace three vessels currently deployed in Matson's Hawaii, Guam, and CLX services.

Founded in 1882 as a Hawaii-focused business, Matson has a long tradition of giving Hawaiian names to its vessels, and also reusing vessel names from the early 20th century. The company plans to name the new containerships Makua, Malama, and Makena, names originally used for three freighters in the WWI era. Makua ("mah-KOO-ah") is a Hawaiian word meaning parent, elder, ancestor, or family.

HPSI has long been recognized as a leader in U.S. commercial shipbuilding, constructing vessels for operation in the domestic Jones Act trade lanes. Prior to delivering Matson's first two Aloha Class ships in 2018 and 2019, the shipyard delivered four newly built Jones Act containerships for Matson between 2003 and 2006. With the backing of Hanwha Systems and Hanwha Ocean since 2024, HPSI is leveraging the global capabilities of one of South Korea's largest and most diversified conglomerates to usher in a new era of U.S. shipbuilding.

"Today's keel laying marks more than the beginning of another great ship — it symbolizes the strength of our ongoing partnership with Matson and our shared commitment to American shipbuilding," remarked David Kim, Hanwha Philly Shipyard CEO. "We're honored that Matson has entrusted us with three series of ships, and we remain committed to excellence with every block."

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

About Matson
Founded in 1882, Matson is a leading U.S. carrier in the Pacific. Matson provides a vital lifeline to the economies of Hawaii, Alaska, Guam, Micronesia and select South Pacific islands, and operates a premium, expedited service from China to Southern California. The Company's fleet of 22 owned vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges. Matson Logistics, established in 1987, extends the geographic reach of Matson's transportation network throughout the continental U.S. Its integrated, asset-light logistics services include rail intermodal, highway brokerage, warehousing, and less-than-container load freight consolidation and forwarding to Alaska. Additional information about Matson Inc. is available at www.matson.com.

About Hanwha Philly Shipyard, Inc.
Hanwha Philly Shipyard is a leading U.S. shipbuilder 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, shipbuilding, defense, aerospace, finance, and retail & services industries. To learn more about what's on the horizon, visit www.hanwhaphillyshipyard.com.

Contacts:
Keoni Wagner	Rob Loveless
Matson, Inc.	Hanwha Philly Shipyard, Inc.
(510) 628-4534	(215) 875-8815
kwagner@matson.com	rob.loveless@hanwhaphillyshipyard.com

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SOURCE MATSON, INC. - PR

FAQ

When will Matson's new Aloha Class containerships be delivered?

The three new Aloha Class containerships will be delivered to Matson in 2027 and 2028.

What is the capacity of Matson's new Aloha Class ships?

The new Aloha Class ships will have a carrying capacity of 3,600 TEU and can operate at speeds exceeding 23 knots.

What routes will MATX's new Aloha Class ships serve?

The ships will be deployed in Matson's Hawaii, Guam, and China-Long Beach Express (CLX) services, replacing three existing vessels.

What are the names of Matson's new containerships?

The new containerships will be named Makua, Malama, and Makena, names originally used for three freighters in the WWI era.

What fuel technology will Matson's new ships use?

The vessels will feature dual-fuel engines that can operate on liquefied natural gas (LNG) from delivery, along with a more fuel-efficient hull design.