Matson Vessel to Undergo $17m Conversion

Matson Signs $17m Contract with Atlantic Marine Alabama for C-9 Conversion Matson Navigation Company, Inc. (Matson) has signed a $17m contract with Atlantic Marine Alabama, LLC to perform work related to the conversion of Matson’s C-9, MV Mokihana, to a combination RoRo and container vessel. Modification work on the 2,800 TEU containership will commence in April 2007 at Atlantic Marine’s shipyard in Alabama, with delivery scheduled for June 2007.

“The conversion of the Mokihana will increase Matson’s ro-ro capacity in our Hawaii service by 35 percent,” said Dave Hoppes, senior vice president, ocean services. “It will help further Matson’s objective of providing our auto customers with the two features they prefer: frequency of service and ro-ro capacity. The new state-of-the-art garage unit will have all of the features of a pure car carrier, including a fully enclosed garage, ventilation, lighting and various safety components to minimize damage in transit. Given the fluctuations in volume in Hawaii’s auto market, Matson’s research has shown that a combination ro-ro/containership provides both economic and service advantages, as the vessel’s capacity and associated revenue are not tied solely to vehicle shipments.” The conversion of the Mokihana is part of a previously announced $45m upgrade of Matson’s ro-ro service capabilities in its Hawaii service, which includes shoreside facility improvements and investments in new information technology. The converted Mokihana will complement Matson’s two other combination RoRo/containerships, SSs Lurline and Matsonia.