AI Analysis | Feedback

Maersk for ocean freight to Hawaii, Alaska, and Guam.

A specialized FedEx or UPS for maritime cargo shipping to destinations like Hawaii and Alaska.

AI Analysis | Feedback

Here are Matson's major products and services:

• Ocean Transportation: Provides container shipping, automobile transport, and oversized cargo services across the Pacific, primarily connecting the U.S. West Coast to Hawaii, Alaska, Guam, and certain South Pacific islands.

• Logistics: Offers supply chain management, freight forwarding, warehousing, and distribution services through its Matson Logistics subsidiary.

AI Analysis | Feedback

Matson (MATX) primarily sells its services to other companies (Business-to-Business).

Due to the diverse nature of its customer base and its role as a leading ocean transportation and logistics provider, Matson does not publicly disclose specific names of its major customers in its SEC filings or investor relations materials. Matson's customer base typically consists of a broad array of businesses that require freight transportation services to and from its key markets (primarily Hawaii, Alaska, Guam, Micronesia, and China).

However, companies that operate in or serve these markets and require significant cargo movement would be typical users of Matson's services. Examples of large public companies with significant retail, distribution, or manufacturing operations in these regions that would likely rely on ocean freight services include:

• Walmart Inc. (WMT)
• Costco Wholesale Corporation (COST)
• The Home Depot, Inc. (HD)
• Albertsons Companies, Inc. (ACI)

AI Analysis | Feedback

• General Dynamics (NYSE: GD)
• Philly Shipyard ASA (OSE: PHLY)

AI Analysis | Feedback

Matthew J. Cox, Chairman and Chief Executive Officer

Matthew J. Cox was appointed Chairman of the Board of Matson, Inc. in April 2017 and has served as Chief Executive Officer since 2012. He oversees the entire Matson organization, including Matson Navigation Company, Matson Logistics, and Matson Terminals. Mr. Cox joined Matson in June 2001 as Senior Vice President and Chief Financial Officer, becoming Executive Vice President and Chief Operating Officer in 2005, and President in 2008. Prior to joining Matson, he accumulated 15 years of experience in the transportation industry, holding executive posts at Distribution Dynamics, Inc. from 1999 to 2001, and various financial and operational positions at American President Lines, Ltd. (APL) from 1987 to 1999. He also had a key role in the startup of Matson’s China – Long Beach Express in 2006. Matson was spun off from its parent company, Alexander & Baldwin, in 2012, becoming a separately listed NYSE company under his leadership. His accomplishments also include overseeing the acquisitions of Span Alaska and Horizon Lines, Inc.

Joel M. Wine, Executive Vice President and Chief Financial Officer

Joel M. Wine was appointed Executive Vice President and Chief Financial Officer of Matson in February 2021, having served as Matson's Chief Financial Officer since 2012. He is responsible for all financial matters, including accounting, financial reporting, treasury, investor relations, corporate development, mergers and acquisitions, and information technology. Mr. Wine joined Alexander & Baldwin in September 2011 as Senior Vice President, Chief Financial Officer, and Treasurer after 14 years at Goldman Sachs, where he was a managing director in investment banking. His key accomplishments at Matson include handling the company's separation from its parent company in 2012 and the acquisitions of Span Alaska and Horizon Lines, Inc.

Vic S. Angoco, Executive Vice President, Operations

Vic S. Angoco was named Executive Vice President, Operations, in August 2025. In this role, he oversees Matson's network operations, including West Coast terminals, vessel operations and engineering, equipment operations and engineering, and corporate facilities. Mr. Angoco is a 35-year maritime industry veteran who began his career on Guam. He joined Matson in 1996 and has held various operations and sales management positions across Guam, San Francisco, and Hawaii. Before his current role, he served as Senior Vice President of the Pacific division and most recently led Matson's Alaska team. Prior to Matson, he worked for American President Lines (APL) and Sea-Land Services as an operations manager in Guam.

Peter T. Heilmann, Executive Vice President, Chief Administrative Officer and General Counsel

Peter T. Heilmann was named Executive Vice President, Chief Administrative Officer, and General Counsel of Matson in February 2021. He oversees all of Matson's legal, legislative, and human resources activities. Mr. Heilmann joined Matson in 2012 as Vice President and Deputy General Counsel and was promoted to Senior Vice President and Chief Legal Officer in 2014, with his role expanding to include the chief administrative officer function in 2017. His accomplishments include managing the separation from Alexander & Baldwin and Matson's transition to a publicly-traded company, as well as the acquisitions of Horizon Lines' Alaska and Span Alaska. Before Matson, he had 20 years of legal experience in private practice, including over a decade as a partner at Gibson, Dunn & Crutcher LLP.

John P. Lauer, Executive Vice President and Chief Commercial Officer

John P. Lauer was named Executive Vice President and Chief Commercial Officer of Matson in February 2021, and has served as an officer of Matson since March 2012. In this position, he is responsible for sales, marketing, customer service, pricing, government services, and the China office. Mr. Lauer joined Matson in 2007 as Director, Transpacific Services, and has over 30 years of experience in the maritime industry. He was named Vice President, Transpacific Services, in 2012 and Senior Vice President, Ocean Services, in 2015.

AI Analysis | Feedback

The key risks to Matson's business include:

1. Sustained weakness in transpacific volumes, particularly in China-related routes, which could significantly impact earnings and sentiment.

2. Persistent competition from traditional and new expedited carriers, which may pressure pricing power, limit margin expansion, and lead to an expected shrinkage in profit margins.

3. Economic uncertainty in its key markets of Hawaii and Alaska, coupled with low demand for shipping services in its Logistics unit, affecting overall profitability.

AI Analysis | Feedback

AI Analysis | Feedback

Matson, Inc. (MATX) operates primarily in two segments: Ocean Transportation and Logistics. The addressable market sizes for their main products and services are as follows:

Ocean Transportation

• Hawaii Service: Matson is identified as the largest Jones Act player in the U.S. domestic Pacific shipping market for Hawaii. While specific current market value is not available, the ocean freight market for moving containers from U.S. ports to Hawaii involves two major players: Matson and Pasha. In 2024, Matson expects its Hawaii container volume to be comparable to 2023 levels, reflecting modest economic growth in Hawaii and stable market share.
• Alaska Service: Matson provides comprehensive shipping solutions for the Alaskan market, including containerized freight and roll-on/roll-off services. Matson's Alaska service experienced a 0.6% increase in container volume in 2024. No specific overall market size for Alaska shipping is provided in the search results.
• China-Long Beach Express (CLX) / MAX Service: This is a premium expedited service connecting China and the U.S. West Coast, specifically Southern California. Matson's China service experienced a 23.3% increase in container volume in the fourth quarter of 2023 year-over-year. In the second quarter of 2022, Matson's transpacific service saw a 12 percent increase in container volume. The overall global ocean freight market was estimated at 64 million TEUs (Twenty-foot Equivalent Units) in 2020. However, a specific addressable market size for Matson's expedited China-Long Beach Express within the broader Transpacific market is not available.
• Guam and Micronesia Services: Matson offers shipping services to Guam, Saipan, and other Pacific islands. In 2024, container volume in Guam decreased by 6.5%. No specific overall market size for Guam and Micronesia shipping is available.
• South Pacific Services (New Zealand, Australia, and other South Pacific locations) and International Export Service from Alaska to Asia: Matson has operations in these regions. However, no specific addressable market sizes for these services are provided in the search results.

Logistics

• Matson's Logistics segment offers a range of services including warehousing and distribution, freight forwarding, intermodal services, transportation brokerage, supply chain management, and customs brokerage. While Matson's logistics revenue saw a modest increase of 1.0% in Q1 2025, primarily due to higher revenue in freight forwarding and supply chain management, and logistics operating income is expected to be lower for the full year 2025 due to a challenging environment across all business lines, the search results do not provide a specific overall addressable market size for Matson's logistics services (U.S. or global).

Based on the available information, a comprehensive sizing of the addressable markets for all of Matson's main products and services is not fully identifiable. Therefore, for products where a market size could not be determined, the value is null.

AI Analysis | Feedback

Matson, Inc. (MATX) is expected to see future revenue growth driven by a combination of its robust China service, strategic fleet enhancements, and sustained performance in its logistics operations. While the company navigates dynamic market conditions and geopolitical factors, several key areas are anticipated to contribute to its top-line expansion over the next two to three years.

Here are 3-5 expected drivers of Matson's future revenue growth:

1. Resilient Performance and Potential Rebound in China Expedited Service: Matson's China service has been a significant driver of operating income, benefiting from strong freight rates and demand. While the service experienced some declines in container volume and average freight rates in early 2025 due to tariff uncertainties, a rebound in demand was observed after temporary tariff reductions. The company's ability to maintain premium pricing in this lane, even with moderating overall spot rates, positions it for continued strong contributions should market conditions stabilize or improve further.
2. Strategic Fleet Modernization with New Aloha Class Vessels: Matson is investing in its fleet by constructing three new dual-fuel Aloha Class vessels, with the first expected to be delivered in late 2026. These new vessels are anticipated to enhance operational efficiency, increase capacity, and potentially improve service offerings, which can drive long-term revenue growth through expanded capabilities and competitive advantages in its ocean transportation segments.
3. Growth in the Logistics Segment, particularly Supply Chain Management: The Logistics segment has consistently shown positive contributions to operating income, primarily driven by a higher contribution from supply chain management services. Despite some challenges in transportation brokerage and freight forwarding, the continued focus and expansion of supply chain management services are expected to bolster this segment's revenue performance.
4. Stable to Modest Growth in Domestic Hawaii and Alaska Tradelanes: While Hawaii's container volumes have seen some fluctuations due to lower demand and tourism challenges, and Guam has experienced declines, the Alaska market has shown a rise in volume. Matson anticipates Hawaii and Alaska volumes to approximate or be modestly lower than previous year levels, supported by underlying economic stability, job growth, and tourism recovery. Consistent demand in these vital lifeline services provides a foundational revenue base that could see modest growth as local economies strengthen.

AI Analysis | Feedback

Share Repurchases

• Matson's Board of Directors approved adding three million shares to an existing twelve million share repurchase program, extending it to December 31, 2027. As of February 26, 2025, approximately 3.5 million shares remained authorized for future repurchase under this program.
• From August 2021 through September 2025, Matson repurchased approximately 13.1 million shares for a total cost of approximately $1.2 billion.
• In 2024, the company repurchased approximately 1.6 million shares for a total cost of $201.0 million.

Capital Expenditures

• Matson's capital expenditures for 2023 totaled $248.4 million and for 2024 totaled $310.1 million.
• For 2025, Matson expects approximately $248 million in new vessel construction milestone payments and around $130 million for maintenance and other capital expenditures, totaling approximately $378 million.
• The primary focus of capital expenditures includes fleet renewal, notably the addition of three new Aloha Class containerships designed to increase CLX service capacity by over 20% and enhance fleet speed.