Matson, Inc. (MATX): Análisis PESTLE [Actualizado en Ene-2025]

En el mundo dinámico de la logística marítima, Matson, Inc. (MATX) navega por un complejo panorama de desafíos y oportunidades globales. Desde los bulliciosos puertos del Pacífico hasta la intrincada Web of International Trade Regulations, esta potencia marítima debe adaptarse constantemente a un entorno cambiante. Nuestro análisis integral de la mano presenta los factores multifacéticos que dan forma a las decisiones estratégicas de Matson, revelando cómo las tensiones políticas, las fluctuaciones económicas, las innovaciones tecnológicas y las presiones ambientales convergen para definir el camino de la compañía en un ecosistema de envío global cada vez más interconectado.

Matson, Inc. (MATX) - Análisis de mortero: factores políticos

Regulaciones marítimas de EE. UU. Impacto en las operaciones de envío

La Ley de Seguridad del Transporte Marítimo de 2002 requiere que Matson cumpla con estrictos protocolos de seguridad. A partir de 2024, Matson mantiene 100% Cumplimiento con regulaciones federales de seguridad marítima.

Métrico de cumplimiento regulatorio	Estado de Matson
Pasadas las inspecciones de la Guardia Costera	98.7% (2023)
Certificación del sistema de gestión de seguridad	ISO 9001: 2015 Cumplimiento

Implicaciones de la política comercial estadounidense-china

Las tensiones comerciales entre Estados Unidos y China impactan directamente en las rutas de envío Transpacific de Matson.

• Tasas arancelas sobre productos chinos: 7.3% promedio en 2024
• Reducción del volumen de envío transpacífico: 12.5% ​​desde 2022
• Impacto de ingresos anual estimado: $ 42.6 millones

Cumplimiento de la Ley de Jones

Matson opera 6 embarcaciones con bandera de EE. UU. Para el transporte marítimo doméstico, que se adhiere a los requisitos de la Ley Jones.

Categoría de Vessel de Jones ACT	Número de embarcaciones
Contenedores	4
Barcos roll-on/roll-off	2

Tensiones geopolíticas en Asia-Pacífico

La logística de envío está influenciada por las tensiones regionales en curso, particularmente en el Mar del Sur de China.

• Costo de desviación de ruta estimado: $ 3.2 millones anuales
• Primas adicionales de seguro marítimo: aumento del 4.7% en 2024
• Gasto de planificación de ruta de contingencia: $ 1.9 millones

Matson, Inc. (MATX) - Análisis de mortero: factores económicos

Volúmenes de comercio global fluctuantes

Las fuentes de ingresos de Matson se ven directamente afectadas por los volúmenes comerciales globales. En el tercer trimestre de 2023, Matson informó ingresos por transporte oceánico de $ 537.7 millones, lo que refleja la sensibilidad a la dinámica del comercio internacional.

Año	Ingresos de transporte oceánico	Impacto del volumen comercial
2023 Q3	$ 537.7 millones	-5.2% de declive año tras año
2022 año completo	$ 2.25 mil millones	+14.3% de aumento del volumen comercial

Volatilidad del precio del combustible

Los costos operativos están significativamente influenciados por los precios del combustible. En 2023, los costos de combustible marino promediaron $ 589 por tonelada métrica, impactando directamente las tarifas de flete de envío.

Año	Costo promedio de combustible marino	Ajuste de la tasa de flete
2023	$ 589/tonelada métrica	+7.2% Aumento de la tasa de flete
2022	$ 678/tonelada métrica	+12.5% ​​Aumento de la tasa de flete

Desempeño económico de los mercados de Estados Unidos y Asia-Pacífico

La demanda de envío está estrechamente vinculada al desempeño económico. A partir del cuarto trimestre de 2023, el crecimiento del PIB de EE. UU. Fue del 2.9%, mientras que el crecimiento del PIB del Pacífico de Asia fue de 4,6%, influyendo directamente en los volúmenes de envío de Matson.

Región	Crecimiento del PIB 2023	Impacto del volumen de envío
Estados Unidos	2.9%	Demanda de envío moderada
Asia-Pacífico	4.6%	Fuerte demanda de envío

Interrupciones de la cadena de suministro global

La incertidumbre del mercado persiste debido a los desafíos continuos de la cadena de suministro. En 2023, los retrasos en el envío de contenedores promediaron 3.2 días, lo que afectó la eficiencia operativa de Matson.

Año	Retrasos de envío promedio	Impacto económico
2023	3.2 días	Ajuste de ingresos de $ 42.5 millones
2022	4.7 días	$ 67.3 millones de ajuste de ingresos

Matson, Inc. (MATX) - Análisis de mortero: factores sociales

Aumento de la demanda del consumidor de soluciones de envío más rápidas y sostenibles

Según el Informe de Tendencias de Logística 2023, el 68% de los consumidores priorizan la velocidad de envío y la sostenibilidad ambiental al seleccionar proveedores de logística. El tiempo de tránsito promedio de Matson para las rutas transpacíficas es de 9.2 días, en comparación con el promedio de la industria de 12.5 días.

Métrica de preferencia del consumidor	Porcentaje
Prioridad de velocidad de envío	42%
Prioridad de sostenibilidad ambiental	26%
Sensibilidad a los costos	32%

Las crecientes tendencias de comercio electrónico impulsan cambios en la logística y los servicios de transporte

Las ventas globales de comercio electrónico alcanzaron los $ 5.7 billones en 2023, con un crecimiento proyectado a $ 8.1 billones para 2026. Las plataformas de envío digital de Matson experimentaron un aumento del 37% en la adopción del usuario en 2023.

Métrico de comercio electrónico	Valor 2023
Ventas globales de comercio electrónico	$ 5.7 billones
Crecimiento de la plataforma digital de Matson	37%
Transacciones de envío en línea	2.3 millones

Los cambios demográficos de la fuerza laboral impactan estrategias de adquisición y retención de talento

La mediana de edad de la fuerza laboral de Matson es de 44.2 años, con el 28% de los empleados menores de 35 años. La representación de diversidad de la compañía incluye 35% de minorías raciales/étnicas y 22% de mujeres en puestos de liderazgo.

Demográfico de la fuerza laboral	Porcentaje
Empleados menores de 35 años	28%
Minorías raciales/étnicas	35%
Mujeres en el liderazgo	22%

Preferencia del consumidor por las compañías navieras con el medio ambiente

Matson redujo las emisiones de carbono en un 22% en 2023 a través de la modernización de la flota y las tecnologías alternativas de combustible. El 64% de los clientes encuestados indicaron la voluntad de pagar una prima por las opciones de envío sostenible.

Métrica de sostenibilidad	Valor
Reducción de emisiones de carbono	22%
Los clientes que prefieren el envío sostenible	64%
Inversión en tecnologías verdes	$ 47 millones

Matson, Inc. (MATX) - Análisis de mortero: factores tecnológicos

Los sistemas avanzados de seguimiento y gestión de logística mejoran la eficiencia operativa

Matson invirtió $ 12.3 millones en tecnología de gestión de logística avanzada en 2023. El sistema de seguimiento digital de la compañía cubre el 98.7% de sus rutas de envío con monitoreo GPS en tiempo real.

Inversión tecnológica	Cantidad de 2023	Porcentaje de cobertura
Sistemas de gestión logística	$ 12.3 millones	98.7%
Infraestructura de seguimiento digital	$ 5.7 millones	95.4%

Inversión en plataformas digitales para monitoreo de envío en tiempo real y servicio al cliente

Matson desplegó un Plataforma de servicio al cliente basada en la nube En el cuarto trimestre de 2023, reduciendo los tiempos de respuesta del cliente en un 42%. La plataforma digital admite 3.200 interacciones de usuario concurrentes.

Métricas de plataforma digital	Indicador de rendimiento
Reducción del tiempo de respuesta	42%
Soporte de usuario concurrente	3.200 usuarios

Tecnologías de automatización que mejoran los procesos de manejo de puertos y carga

Matson implementó sistemas automatizados de manejo de carga en 7 puertos principales, reduciendo los costos laborales manuales en $ 4.6 millones anuales. Los sistemas robóticos ahora administran el 63% de los procesos de carga y descarga de contenedores.

Implementación de automatización	Cobertura portuaria	Ahorro de costos
Manejo automatizado de carga	7 puertos principales	$ 4.6 millones/año
Porcentaje de carga robótica	63%	N / A

Tecnologías emergentes como blockchain potencialmente transformando la logística marítima

Matson asignó $ 2.9 millones para Blockchain Technology Research and Development en 2023. La compañía ha iniciado programas piloto con 14 socios de logística para explorar la implementación de blockchain.

Tecnología blockchain	Inversión	Compromiso de pareja
Inversión de I + D	$ 2.9 millones	N / A
Pilotos de socios de logística	N / A	14 socios

Matson, Inc. (MATX) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones de seguridad marítima y los estándares de envío internacional

Matson, Inc. se adhiere a múltiples regulaciones internacionales de seguridad marítima, que incluyen:

Cuerpo regulador	Requisitos de cumplimiento	Costo de verificación anual
Organización Marítima Internacional (OMI)	Cumplimiento de la convención de SOLAS	$ 1.2 millones
Guardia Costera de los Estados Unidos	Certificación del sistema de gestión de seguridad	$850,000
Convención internacional para la prevención de la contaminación de los barcos (Marpol)	Normas de seguridad ambiental	$ 1.5 millones

Leyes de protección del medio ambiente que rigen el transporte marítimo

El cumplimiento ambiental de Matson implica inversiones significativas:

Regulación ambiental	Gasto de cumplimiento (2023)	Objetivo de reducción de emisiones
Convención de gestión del agua de lastre	$ 3.4 millones	90% de eficiencia del tratamiento de agua
Áreas de control de emisiones de azufre	$ 2.7 millones	Límite de contenido de azufre al 0,5%

Regulaciones laborales que afectan la gestión de la fuerza laboral

Métricas legales de cumplimiento de la fuerza laboral:

• Fuerza laboral marítima total: 2.100 empleados
• Representación sindical: 78% del personal marítimo
• Cumplimiento laboral anual Gastos legales: $ 1.6 millones

Desafíos legales potenciales en el comercio internacional y los acuerdos de envío

Acuerdo comercial	Riesgo legal potencial	Presupuesto de mitigación
Cumplimiento de la Ley de Jones	Restricciones de envío doméstico de EE. UU.	$ 4.2 millones
Acuerdos comerciales del Pacífico	Complejidades de regulación aduanera	$ 2.9 millones

Gasto total de cumplimiento legal anual: $ 17.3 millones

Matson, Inc. (MATX) - Análisis de mortero: factores ambientales

Aumento del enfoque en la reducción de las emisiones de carbono en el transporte marítimo

Matson, Inc. informó un 15.2% de reducción en las emisiones de CO2 por contenedor transportado entre 2018 y 2022. Las emisiones totales de gases de efecto invernadero de la compañía en 2022 fueron 1,245,670 toneladas métricas de equivalente de CO2.

Año	Emisiones de CO2 (toneladas métricas)	Porcentaje de reducción
2020	1,356,890	8.7%
2021	1,298,450	12.4%
2022	1,245,670	15.2%

Implementación de prácticas de envío sostenibles y tecnología verde

Matson invirtió $ 287 millones en tecnologías de embarcaciones ecológicas entre 2020 y 2023. La compañía implementó 3 nuevos buques con GNL con Emisiones 30% más bajas en comparación con los motores diesel marinos tradicionales.

Inversión tecnológica	Monto ($)	Año
Actualizaciones de buques de GNL	157,000,000	2021
Sistemas de eficiencia de combustible	86,500,000	2022
Tecnologías de reducción de emisiones	43,500,000	2023

Adaptarse a regulaciones ambientales más estrictas en la industria naviera

Matson cumple con los estándares de emisión de óxido de nitrógeno de nivel marítimo internacional (IMO). La empresa logró 98.6% Cumplimiento con regulaciones ambientales marítimas globales en 2022.

Invertir en embarcaciones eficientes en combustible y tecnologías de propulsión alternativa

En 2022, la flota de Matson logró una eficiencia de combustible promedio de 22.4 gramos de CO2 por tonelada de milla, en comparación con el promedio de la industria de 25.7 gramos. La compañía comprometió $ 425 millones a la modernización de la flota con tecnologías de baja emisión para 2025.

Tecnología de propulsión	Inversión ($)	Reducción de emisiones
Propulsión de GNL	195,000,000	25-30%
Sistemas eléctricos híbridos	125,000,000	15-20%
Diseños avanzados de casco	105,000,000	10-15%

Matson, Inc. (MATX) - PESTLE Analysis: Social factors

Sociological

You are looking at how consumer behavior and global shifts are reshaping the demand for Matson, Inc.'s core services right now, in 2025. The social fabric of consumption, particularly the need for speed, is a major tailwind for your premium Asia routes.

The e-commerce boom is still very much alive in the Transpacific lane, driving significant volume. Honestly, in 2025, e-commerce is responsible for a 25% increase in overall Trans-Pacific shipping volume. This isn't just big containers; small parcels now make up about 40% of the total air and sea mix on these routes. That pressure for 2-day delivery trickles down, demanding better integration and faster throughput from carriers like Matson.

The 'China Plus One' strategy is actively redrawing the map of where goods originate. By mid-2025, the share of U.S. imports coming directly from China had fallen to just 9% of the total, down from 13% in 2024. This shift is funneling new opportunities into Southeast Asia, especially Vietnam. For example, Vietnam's total export volumes rose 14% year-over-year through August 2025, with exports specifically to the U.S. increasing by 29% in May alone. Still, this growth isn't seamless; logistics costs in Vietnam remain high, accounting for roughly 16.5% of its GDP.

For your domestic routes, high inflation is definitely tempering local spending power. In Hawaii, the expected consumer inflation rate for 2025 is 3.0%, which is slightly above the projected national average of 2.8%. Alaska residents are also feeling the pinch, with the state registering one of the highest average cost increases nationally due to broader economic policies. Here's the quick math: while the national economy is expected to see real consumer spending grow by 2.1% in 2025, local pressures can create volatility. What this estimate hides is that Matson's actual performance in Q2 2025 showed resilience: Hawaii container volume was up 2.9% and Alaska volume rose 2.7% year-over-year, partially due to competitor service disruptions.

The social contract Matson holds with the non-contiguous U.S. territories is a major, non-negotiable factor. Matson provides a vital lifeline of ocean freight transportation services to the domestic economies of Hawaii, Alaska, and Guam. This isn't just a business line; it's a public trust that influences political sentiment. To demonstrate commitment beyond freight, Matson has pledged $10 million in cash and in-kind shipping services to food bank networks supporting families in need across Hawaii, Alaska, and Guam.

Key Social Dynamics for 2025:

• E-commerce drives 25% Transpacific volume growth.
• Small parcel share is 40% of air/sea mix.
• Hawaii 2025 inflation forecast: 3.0%.
• Vietnam exports to US grew 29% in May 2025.
• Matson committed $10 million to regional food banks.

The shift in manufacturing means new trade lanes are opening, but the domestic islands still rely on you for basic sustenance. We need to track local consumer sentiment against the actual cargo flows we see.

Social Factor Impact Summary (2025 Data)

Factor	Metric/Data Point	Source/Context
E-commerce Demand	25% volume growth in Transpacific	Driven by consumer expectation for speed.
Manufacturing Shift (Vietnam)	Vietnam exports to US grew 29% (May 2025)	'China Plus One' strategy creating new export hubs.
Domestic Inflation (Hawaii)	Expected CPI-U of 3.0% in 2025	Higher than US national projection of 2.8%.
Domestic Volume Resilience (Hawaii)	Q2 2025 container volume up 2.9% YoY	Shows essential service demand overriding some local headwinds.
Community Investment	$10 million committed to food banks	Social responsibility in non-contiguous markets.

If onboarding takes 14+ days, churn risk rises in the premium e-commerce segment.

Finance: draft 13-week cash view by Friday.

Matson, Inc. (MATX) - PESTLE Analysis: Technological factors

You're looking at how Matson is using tech to stay ahead in a tough shipping market, and honestly, the focus is sharp: efficiency, compliance, and safety. The big takeaway here is that technology isn't just a cost center; it's becoming central to their operational edge, especially with major capital flowing into new assets and environmental tech.

Adoption of Artificial Intelligence (AI) and advanced analytics to optimize vessel routing and demand forecasting

While the broader logistics industry in 2025 is seeing organizations report up to a 38% improvement in predictive ETAs by deploying AI-enabled platforms, Matson is integrating this intelligence where it matters most for their specific trade lanes. The most concrete example right now is the new whale detection system, which is explicitly described as using AI-driven detection. This shows a clear path for applying advanced analytics beyond just back-office planning and into real-time, on-the-water decision support. For vessel routing, the goal is always to shave hours off transit times, which directly impacts fuel burn and schedule reliability. We expect to see more internal deployment of augmented analytics to refine demand forecasting for their core Hawaii and Alaska routes, helping them position capacity more effectively against competitors.

Here's the quick math on the investment side: Matson projected new vessel construction expenditures for the full year 2025 to be approximately $248 million, which includes the latest digital and efficiency systems baked into the build. What this estimate hides is the ongoing software spend for the analytics platforms themselves.

Increased use of Internet of Things (IoT) sensors for real-time cargo tracking and supply chain visibility

Matson already provides customers with real-time container tracking using GPS and Electronic Data Interchange (EDI) integration, which is standard for a premium carrier. This visibility is crucial for their Logistics segment, which handles everything from brokerage to warehousing. The underlying IoT infrastructure that feeds these tracking systems is what allows for that end-to-end visibility that shippers demand. For you, this means you can check the status of your container using the MATU prefix number on their online tools for high-level status updates. Still, the real value of IoT sensors is moving beyond just location to condition monitoring-temperature, shock, and humidity-which is vital for high-value goods moving through the Pacific. We need to watch for announcements regarding expanded sensor deployment beyond basic GPS tracking.

Investment in new whale detection technology deployed on vessels for environmental and operational safety

This is a clear, actionable step Matson took in late 2025 to blend environmental stewardship with operational safety. Matson announced a product agreement on November 3, 2025, to deploy the WhaleSpotter system, developed with the Woods Hole Oceanographic Institution (WHOI). This system uses thermal and AI-driven detection to reliably spot whales up to three nautical miles away, day or night. The company has already successfully trialed three units and ordered four additional units for vessels serving Hawaii and Alaska. This initiative was partly funded by a $1 million research grant Matson provided to WHOI back in 2023. It's a tangible investment that directly reduces the risk of ship strikes, which is a major operational hazard and regulatory concern in certain zones.

Newest vessels utilize main engines that meet the International Maritime Organization (IMO) Tier III standards for nitrogen oxide (NOx)

Compliance with increasingly strict environmental rules is a massive technological driver in shipping, and Matson is positioning its fleet for the long haul. Their newest build main engines are designed to meet IMO Tier III standards for nitrogen oxide (NOx) emissions, which is a significant step up from earlier requirements. For example, the Lurline and Matsonia already use Tier 3 engines, which cut NOx emissions by approximately 80% compared to older Tier 1 engines. Furthermore, Matson is making its new Aloha Class containerships LNG-ready and dual-fuel capable, representing about $1 billion in new capital investment for just those three vessels. This focus on cleaner engines and alternative fuel readiness is key to meeting their goal of a 40% reduction in Scope 1 fleet emissions by 2030.

Here is a quick look at the technology-linked capital deployment for the 2025 fiscal year:

Technology/Asset Category	Projected 2025 Fiscal Year Value
New Vessel Construction Expenditures	Approximately $248 million
LNG Installations and Reengining on Existing Vessels	Approximately $130 million
Maintenance Capital Expenditures	Approximately $130 million
Total Whale Detection Units Ordered (Additional)	4 units

The commitment to LNG-ready designs is defintely a hedge against future carbon taxes or stricter regulations. Also, the fact that they are planning for $130 million in LNG installations and reengining shows they aren't just waiting for new builds to get cleaner.

• AI-driven whale detection deployed on Hawaii/Alaska routes.
• New vessels are LNG-ready and IMO Tier III compliant.
• Older vessels use scrubbers to meet IMO 2020 standards.
• Real-time tracking relies on established GPS/EDI integration.

Finance: draft 13-week cash view by Friday.

Matson, Inc. (MATX) - PESTLE Analysis: Legal factors

You're looking at the legal landscape for Matson, Inc., and honestly, the biggest factor protecting your core business-domestic routes-is a century-old piece of legislation. The Jones Act is the bedrock here, mandating that vessels in the U.S. domestic trade must be built, owned, crewed, and flagged in the United States. This essentially locks out foreign competition on key routes like the vital lifeline to Hawaii, Alaska, and Guam, which is a massive competitive moat for Matson. Still, this protection isn't static; we saw in April 2025 that Matson had to intervene in a lawsuit challenging the Act's constitutionality, showing that even the strongest legal shields face legal challenges.

The Jones Act: Core Protection and Ongoing Scrutiny

The Jones Act is your primary defense against lower-cost international carriers on your non-contiguous routes. It ensures that Matson, with its U.S.-flagged fleet, remains the default provider for essential goods movement to places like Hawaii. To be fair, this protection comes with the cost of higher domestic shipbuilding prices, but it guarantees market access. In 2025, the debate around the Act's economic impact on island states continued, evidenced by legal challenges filed against its constitutionality.

US-China Trade Deal: Immediate Port Fee Relief

The recent diplomatic move between Washington and Beijing offers immediate, tangible relief from escalating trade friction costs. Following an agreement between President Trump and President Xi Jinping in late 2025, a one-year regulatory pause on reciprocal port entry fees began on November 10, 2025. Before this pause, Matson had already paid $6.4 million in Chinese port fees since the levies started on October 14, 2025. CEO Matt Cox noted that without this deal, Matson could have faced an annual cost exposure of $80 million in port fees for 2026 and 2027. This truce significantly reduces near-term cost uncertainty on the transpacific leg.

Here's the quick math on the immediate financial impact of the fee suspension:

Metric	Value	Context
Fees Paid by Matson (Oct 14 - Nov 10, 2025)	$6.4 million	Amount paid to China before the one-year pause began.
Estimated Annual Exposure (If no pause)	$80 million	Estimated cost for Matson in 2026/2027 without the agreement.
Pause Duration	12 months	Suspension period for reciprocal port levies starting November 10, 2025.
Total Suspended US Fees (Annual Estimate)	$3.2 billion	Estimated annual value of US port fees on China-linked vessels suspended.

What this estimate hides is the ongoing uncertainty about the next year, but for now, you get a clear runway. Finance: draft 13-week cash view by Friday incorporating the expected refund process for the $6.4 million already paid.

Electric Vehicle Shipments Halted Due to Safety Regulations

In July 2025, Matson made a decisive, albeit disruptive, move by suspending all new bookings for shipping electric vehicles (EVs) and plug-in hybrid vehicles (PHEVs). This action stemmed directly from increasing safety and regulatory concerns surrounding the fire hazard posed by large lithium-ion batteries at sea, especially after the June 2025 sinking of the Morning Midas cargo ship. Since Matson loads vehicles into containers, fire monitoring and suppression are inherently more difficult than on dedicated car carriers. This policy shift immediately impacts markets like Hawaii, where the Hawaii Electric Vehicle Association reports over 37,000 EVs are registered. The company is clear: they will only resume service when safety solutions meet their requirements.

Key takeaways from the EV suspension:

• Decision announced in July 2025.
• Cites increasing fire risk from lithium-ion batteries.
• Followed the sinking of the Morning Midas in June 2025.
• Affects transport to Hawaii, Guam, and Alaska trades.

IMO 2020 Fuel and Emission Compliance

Legally, Matson must adhere to the International Maritime Organization's (IMO) 2020 sulfur cap, which has been in effect since January 1, 2020. This regulation forces vessels to use marine fuels with a sulfur content no greater than 0.5% or install exhaust gas cleaning systems, commonly known as scrubbers. While the initial transition costs were absorbed years ago, the ongoing operational cost difference between compliant low-sulfur fuels and pre-2020 high-sulfur fuel oil remains a factor in your operating expense structure. Compliance is near-universal across the industry now, but the choice between fuel switching or capital investment in scrubbers dictates a long-term financial strategy.

Matson, Inc. (MATX) - PESTLE Analysis: Environmental factors

You're looking at Matson, Inc.'s environmental commitments, and honestly, the shipping industry faces a massive transition. The pressure to decarbonize is real, and Matson has set some ambitious targets to keep pace with global maritime standards.

The core of their strategy revolves around reducing Scope 1 Greenhouse Gas (GHG) emissions-the direct stuff coming from burning fuel on their owned fleet. They are playing the long game here, but the near-term milestones are what we need to watch for capital allocation.

Decarbonization Goals and Progress

Matson, Inc. has publicly committed to a significant interim goal: cutting Scope 1 GHG emissions by 40% by 2030, using 2016 as the baseline year for measurement. That's a big ask over a decade, especially for an asset-heavy business. Their long-term vision is even more aggressive, aiming for net-zero Scope 1 fleet emissions by 2050.

Here's the quick math on where they stood as of the last reported data. While we await the full 2025 fiscal year report, the latest public update showed progress toward that 2030 target. What this estimate hides is the non-linear nature of these investments; some years will show big drops, others less so.

The latest reported progress indicates they achieved a 19% decrease in Scope 1 fleet emissions since the 2016 baseline, as of the end of 2023. That means they were more than halfway to their 2030 goal with six years left, which is a solid start, but the remaining reduction will require significant, costly technological shifts.

Here is a summary of those key targets:

Metric	Target/Baseline	Status/Year Reported
Scope 1 GHG Reduction Goal	40% reduction	By 2030 (from 2016 baseline)
Net-Zero Goal	Net zero Scope 1 emissions	By 2050
Progress to Date	19% decrease in Scope 1 emissions	As of year-end 2023
Baseline Year	2016	First full year after Horizon Lines Alaska acquisition

Alternative Fuels and Fleet Modernization

The path to net-zero definitely involves changing what powers the ships. Matson, Inc. is actively exploring Liquefied Natural Gas (LNG) and other alternative fuels to lower that carbon footprint. They are putting serious capital behind this exploration, which is the right move for a company whose main source of Scope 1 emissions is fuel burn.

They have already made tangible steps with their fleet modernization program. For instance, they completed the installation of LNG tanks and equipment aboard the Daniel K. Inouye, a conversion expected to cut that vessel's $\text{CO}_2$ emissions by 24%. They also plan to replace the main engine on the Manukai with a dual-fuel engine, a project taking about a year.

Plus, they are investing heavily in new hardware. Matson, Inc. committed approximately $1 billion for three new Aloha Class containerships, slated for delivery in 2026 and 2027. These new vessels are being built LNG-ready with dual-fuel engines, meaning they can use LNG or conventional fuels right away, and are set up for future carbon-neutral fuels.

Shore Power and Port Emissions Control

When the ships are in port, they have a clear strategy to eliminate engine emissions right there. Matson, Inc. regularly uses shore power, often called cold ironing, in ports in California and China. This lets the vessel shut down its main and auxiliary engines and plug into the local electrical grid instead.

This is a smart, immediate action that cuts local air pollutants, not just GHGs. In California, the grid power used for this is mandated to be at least 33% carbon-free power after 2020.

Beyond just plugging in, engine technology is playing a role. Several vessels, including the Lurline, Matsonia, and Manukai, feature Tier 3 engines. These engines reduce nitrogen oxide ($\text{NO}_{\text{x}}$) emissions by roughly 80% compared to older Tier 1 engines, making them some of the cleanest deep-sea vessels calling the U.S. West Coast. They plan to install these Tier 3 engines on the three new Aloha Class ships as well.

• Use shore power in California and China ports.
• Lurline, Matsonia, Manukai have Tier 3 engines.
• Tier 3 engines cut $\text{NO}_{\text{x}}$ by about 80% vs. Tier 1.
• New Aloha Class ships will be dual-fuel capable.

Finance: draft 13-week cash view by Friday.