MATSON NEW VESSEL CONSTRUCTION PROGRAM MARKS TWO MILESTONES

Matson (NYSE: MATX) marked two milestones in its vessel construction program on May 5, 2026: hull assembly began on the second of three new LNG-powered Aloha Class containerships and steel cutting started for the third at Hanwha Philly Shipyard.

Rhea-AI Summary

Matson (NYSE: MATX) marked two milestones in its vessel construction program on May 5, 2026: hull assembly began on the second of three new LNG-powered Aloha Class containerships and steel cutting started for the third at Hanwha Philly Shipyard.

The three Jones Act-compliant vessels represent an investment of approximately $1 billion, each with 3,600 TEU capacity and deliveries expected Q1 2027, Q3 2027, and Q2 2028.

Positive

• $1 billion fleet investment in three new LNG-powered vessels
• 3,600 TEU capacity per Aloha Class vessel supports high container volume
• Staggered deliveries in Q1 2027, Q3 2027, Q2 2028 provide clear timeline
• Built at Hanwha Philly Shipyard—adds Jones Act domestic shipbuilding continuity

Negative

• Capital program of approximately $1 billion extends cash commitments through 2028
• New vessels will replace three existing ships, requiring fleet transition and logistics changes

Argus May 6 session

-1.89% close to close Open Argus

Details

News Market Reaction – MATX

On May 6, the first trading day after this news, MATX closed 1.89% below the previous close.

Data tracked by StockTitan Argus for the May 6 session.

Market Context

This announcement details progress on Matson’s fleet renewal, including hull assembly on a second LN...

Analysis

This announcement details progress on Matson’s fleet renewal, including hull assembly on a second LNG-powered Aloha Class vessel and construction start on a third, part of an approximately $1 billion program. The three 3,600 TEU, 854-foot ships will replace existing Hawaii and CLX vessels between 2027 and 2028. Investors may track build progress, delivery timing, and integration with Matson’s existing Aloha Class ships alongside financial updates from recent SEC filings.

Key Figures

New vessel investment: approximately $1 billion New vessels count: 3 vessels Carrying capacity: 3,600 TEU +5 more

New vessel investment

approximately $1 billion

Three new Jones Act-compliant Aloha Class vessels

New vessels count

3 vessels

Second hull assembly begun; third vessel construction started

Carrying capacity

3,600 TEU

Design capacity per Aloha Class vessel

Vessel length

854 feet

Length of each Aloha Class containership

Service speed

in excess of 23 knots

Designed operating speed for Aloha Class vessels

First delivery timing

Q1 2027

Expected delivery of first new vessel

Subsequent deliveries

Q3 2027 and Q2 2028

Expected delivery of second and third vessels

Fleet replacement count

3 vessels

New Aloha Class ships replacing three existing vessels

Historical Context

5 past events · Latest: Apr 23

5 events

1. Apr 23

   Capital return update

   24h Move

   +1.1%

   Expanded share repurchase authorization and maintained quarterly dividend.

2. Apr 20

   Earnings date notice

   24h Move

   -3.6%

   Announcement of Q1 2026 results release and conference call timing.

3. Mar 18

   Community investment

   24h Move

   +0.6%

   Disclosure of $8.6M in 2025 charitable and community contributions.

4. Mar 12

   Leadership transition

   24h Move

   +0.3%

   Retirement plans for EVP/CCO and internal leadership promotions.

5. Mar 2

   Security program launch

   24h Move

   +3.1%

   Introduction of enhanced intermodal cargo security measures starting Q2 2026.

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

Key Terms

lng powered, jones act-compliant, teu

3 terms

lng powered technical

"the beginning of hull assembly on the second of three new LNG powered "Aloha Class" containerships"

LNG-powered means a vehicle, ship, or piece of equipment that runs on liquefied natural gas (LNG) instead of conventional fuels like diesel or heavy fuel oil. For investors, this matters because LNG can lower fuel costs and cut certain emissions, affecting operating expenses, regulatory compliance, and resale value much like switching a car to a cleaner, cheaper fuel can change running costs and market appeal; it also may require higher upfront investment for conversion or new builds.

jones act-compliant regulatory

"The three new Jones Act-compliant vessels, representing an investment of approximately $1 billion"

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.

teu technical

"With a carrying capacity of 3,600 TEU,* the 854-foot Aloha Class vessels are designed"

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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PHILADELPHIA, May 5, 2026 /PRNewswire/ -- Matson, Inc. ("Matson"; NYSE: MATX) today marked two milestones in its fleet renewal program with the beginning of hull assembly on the second of three new LNG powered "Aloha Class" containerships designed for its Hawaii and China-Long Beach Express (CLX) services, and the start of construction on its third new vessel at Hanwha Philly Shipyard, Inc. (HSPI) in Pennsylvania.

A small shipyard ceremony to mark the dock mounting of the first grand block assembly of the second new vessel was followed by the cutting of steel plates to initiate work to build the third vessel.

The three new Jones Act-compliant vessels, representing an investment of approximately $1 billion, will match the size and speed of Matson's two existing Aloha Class ships, Daniel K. Inouye, and Kaimana Hila, which entered service in 2018 and 2019, respectively, as the largest containerships ever constructed in the U.S.

Matson expects to receive the first new vessel in the first quarter of 2027 with subsequent deliveries in the third quarter of 2027 and second quarter of 2028, respectively.

With a carrying capacity of 3,600 TEU,* the 854-foot Aloha Class vessels are designed to operate at speeds in excess of 23 knots in support of Matson's service hallmark – fast and reliable delivery of goods, while incorporating the latest energy-efficient technologies to enhance operational efficiency and reduce environmental impact. 

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

HPSI is a leading U.S. commercial shipyard constructing vessels for operation in the domestic Jones Act trade lanes. Prior to Matson's current Aloha L Class project, the shipyard delivered four Jones Act containerships for Matson between 2003 and 2006, and two additional containerships in 2018 and 2019, which were the first Aloha Class vessels.

* 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. 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.

Investor Relations inquiries: Justin Schoenberg Matson, Inc. 510.628.4234 jschoenberg@matson.com

News Media inquiries: Keoni Wagner Matson, Inc. 510.628.4534 kwagner@matson.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/matson-new-vessel-construction-program-marks-two-milestones-302763321.html

SOURCE Matson, Inc.

FAQ

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

What did Matson (MATX) announce on May 5, 2026 about its new vessels?

Matson began hull assembly on the second Aloha Class ship and started construction on the third. According to the company, the three LNG-powered, Jones Act-compliant vessels total about $1 billion investment and will replace three existing ships.

When will Matson (MATX) receive the new Aloha Class vessels?

Deliveries are scheduled for Q1 2027, Q3 2027, and Q2 2028. According to the company, the staggered timeline spaces final commissioning and fleet integration across 2027–2028.

What are the size and capacity specs of Matson's new Aloha Class ships (MATX)?

Each Aloha Class vessel is 854 feet and holds 3,600 TEU. According to the company, they are designed to exceed 23 knots and include energy-efficient technologies to reduce environmental impact.

Where are Matson's new Aloha Class ships being built for MATX?

Construction is at Hanwha Philly Shipyard in Pennsylvania. According to the company, HPSI previously delivered Matson containerships and is a leading U.S. Jones Act commercial shipyard.

How will Matson's (MATX) new ships affect its Hawaii and CLX services?

The three new vessels will replace three ships currently on Hawaii and CLX routes. According to the company, matching size and speed aims to maintain fast, reliable delivery across those services.