Matson, Inc. (MATX): Analyse Pestle [Jan-2025 MISE À JOUR]

Dans le monde dynamique de la logistique maritime, Matson, Inc. (MATX) navigue dans un paysage complexe de défis et d'opportunités mondiales. Des ports animés du Pacifique au réseau complexe des réglementations commerciales internationales, cette centrale maritime doit constamment s'adapter à un environnement changeant. Notre analyse complète du pilon dévoile les facteurs à multiples facettes qui façonnent les décisions stratégiques de Matson, révélant comment les tensions politiques, les fluctuations économiques, les innovations technologiques et les pressions environnementales convergent pour définir la voie de l'entreprise dans un écosystème d'expédition mondial de plus en plus interconnecté.

Matson, Inc. (MATX) - Analyse du pilon: facteurs politiques

Règlement maritime américain Impact sur les opérations d'expédition

La Maritime Transportation Security Act de 2002 oblige Matson à se conformer à des protocoles de sécurité stricts. Depuis 2024, Matson maintient Compliance à 100% avec des réglementations fédérales de sécurité maritime.

Métrique de la conformité réglementaire	Statut de Matson
Les inspections de la Garde côtière ont passé	98.7% (2023)
Certification du système de gestion de la sécurité	ISO 9001: 2015 conforme

Implications de politique commerciale américaine-chinoise

Les tensions commerciales entre les États-Unis et la Chine ont un impact direct sur les voies d'expédition transpacifique de Matson.

• Tarifs tarifaires sur les produits chinois: 7,3% en moyenne en 2024
• Réduction du volume d'expédition transpacifique: 12,5% depuis 2022
• Impact estimé des revenus annuels: 42,6 millions de dollars

Conformité Jones Act

Matson fonctionne 6 navires à pavillon américain Pour le transport maritime domestique, adhérant pleinement aux exigences de la loi Jones.

Catégorie Jones ACT des navires	Nombre de navires
Conteneurs	4
Navires de roulement / roll-off	2

Tensions géopolitiques en Asie-Pacifique

La logistique d'expédition est influencée par les tensions régionales en cours, en particulier en mer de Chine méridionale.

• Coût estimé de l'écart de l'itinéraire: 3,2 millions de dollars par an
• Primes d'assurance maritime supplémentaires: augmentation de 4,7% en 2024
• Dépenses de planification des itinéraires d'urgence: 1,9 million de dollars

Matson, Inc. (MATX) - Analyse du pilon: facteurs économiques

Fluctuant des volumes commerciaux mondiaux

Les sources de revenus de Matson sont directement touchées par les volumes commerciaux mondiaux. Au troisième trimestre 2023, Matson a déclaré des revenus de transport océanique de 537,7 millions de dollars, reflétant la sensibilité à la dynamique du commerce international.

Année	Revenus de transport océanique	Impact du volume commercial
2023 Q3	537,7 millions de dollars	-5,2% en glissement annuel
2022 Année complète	2,25 milliards de dollars	+ 14,3% d'augmentation du volume commercial

Volatilité des prix du carburant

Les coûts opérationnels sont considérablement influencés par les prix du carburant. En 2023, les coûts de carburant marin étaient en moyenne de 589 $ par tonne métrique, ce qui concerne directement les taux de fret d'expédition.

Année	Coût moyen de carburant marin	Ajustement du taux de fret
2023	589 $ / tonne métrique	+ 7,2% d'augmentation du taux de fret
2022	678 $ / tonne métrique	+ 12,5% d'augmentation du taux de fret

Performance économique des marchés américains et Asie-Pacifique

La demande d'expédition est étroitement liée à la performance économique. Au quatrième trimestre 2023, la croissance du PIB américaine était de 2,9%, tandis que la croissance du PIB en Asie-Pacifique était de 4,6%, influençant directement les volumes d'expédition de Matson.

Région	Croissance du PIB 2023	Impact du volume d'expédition
États-Unis	2.9%	Demande d'expédition modérée
Asie-Pacifique	4.6%	Forte demande d'expédition

Perturbations mondiales de la chaîne d'approvisionnement

L'incertitude du marché persiste en raison des défis en cours de la chaîne d'approvisionnement. En 2023, les retards de livraison des conteneurs étaient en moyenne de 3,2 jours, ce qui a un impact sur l'efficacité opérationnelle de Matson.

Année	Retards moyens d'expédition	Impact économique
2023	3,2 jours	Ajustement des revenus de 42,5 millions de dollars
2022	4,7 jours	Ajustement des revenus de 67,3 millions de dollars

Matson, Inc. (MATX) - Analyse du pilon: facteurs sociaux

Augmentation de la demande des consommateurs pour des solutions d'expédition plus rapides et plus durables

Selon le rapport sur les tendances logistiques 2023, 68% des consommateurs hiérarchisent la vitesse d'expédition et la durabilité environnementale lors de la sélection des fournisseurs de logistique. Le temps de transit moyen de Matson pour les routes transpacifiques est de 9,2 jours, par rapport à la moyenne de l'industrie de 12,5 jours.

Métrique de préférence des consommateurs	Pourcentage
Priorité de vitesse d'expédition	42%
Priorité de durabilité environnementale	26%
Sensibilité au coût	32%

Les tendances croissantes du commerce électronique conduisent les changements dans les services de logistique et de transport

Les ventes mondiales de commerce électronique ont atteint 5,7 billions de dollars en 2023, avec une croissance projetée à 8,1 billions de dollars d'ici 2026. Les plates-formes d'expédition numériques de Matson ont connu une augmentation de 37% de l'adoption des utilisateurs en 2023.

Métrique du commerce électronique	Valeur 2023
Ventes mondiales de commerce électronique	5,7 billions de dollars
Croissance de la plate-forme numérique Matson	37%
Transactions d'expédition en ligne	2,3 millions

Les changements démographiques de la main-d'œuvre ont un impact sur les stratégies d'acquisition et de rétention des talents

L'âge médian de la main-d'œuvre de Matson est de 44,2 ans, avec 28% des employés de moins de 35 ans. La représentation de la diversité de l'entreprise comprend 35% de minorités raciales / ethniques et 22% de femmes en poste.

Travailleur démographique	Pourcentage
Employés de moins de 35 ans	28%
Minorités raciales / ethniques	35%
Femmes en leadership	22%

Préférence des consommateurs pour les compagnies maritimes responsables de l'environnement

Matson a réduit les émissions de carbone de 22% en 2023 grâce à la modernisation de la flotte et aux technologies de carburant alternatives. 64% des clients interrogés ont indiqué la volonté de payer une prime pour les options d'expédition durables.

Métrique de la durabilité	Valeur
Réduction des émissions de carbone	22%
Les clients préférant l'expédition durable	64%
Investissement dans les technologies vertes	47 millions de dollars

Matson, Inc. (MATX) - Analyse du pilon: facteurs technologiques

Les systèmes avancés de gestion du suivi et de la logistique améliorent l'efficacité opérationnelle

Matson a investi 12,3 millions de dollars dans la technologie avancée de gestion de la logistique en 2023. Le système de suivi numérique de l'entreprise couvre 98,7% de ses voies d'expédition avec une surveillance GPS en temps réel.

Investissement technologique	2023 Montant	Pourcentage de couverture
Systèmes de gestion de la logistique	12,3 millions de dollars	98.7%
Infrastructure de suivi numérique	5,7 millions de dollars	95.4%

Investissement dans des plateformes numériques pour la surveillance des expéditions en temps réel et le service client

Matson a déployé un Plateforme de service client basé sur le cloud Au Q4 2023, réduisant les temps de réponse du client de 42%. La plate-forme numérique prend en charge 3 200 interactions utilisateur simultanées.

Métriques de plate-forme numérique	Indicateur de performance
Réduction du temps de réponse	42%
Prise en charge simultanée des utilisateurs	3 200 utilisateurs

Les technologies d'automatisation améliorant les processus de manutention des ports et des cargaisons

Matson a mis en place des systèmes de manutention automatisés de cargaison dans 7 ports majeurs, réduisant les coûts de main-d'œuvre manuels de 4,6 millions de dollars par an. Les systèmes robotiques gèrent désormais 63% des processus de chargement et de déchargement des conteneurs.

Implémentation d'automatisation	Couverture du port	Économies de coûts
Manipulation automatisée des cargaisons	7 ports majeurs	4,6 millions de dollars / an
Pourcentage de chargement robotique	63%	N / A

Les technologies émergentes comme la blockchain transforment potentiellement la logistique maritime

Matson a alloué 2,9 millions de dollars à la recherche et au développement de la technologie blockchain en 2023. La société a lancé des programmes pilotes avec 14 partenaires logistiques pour explorer la mise en œuvre de la blockchain.

Technologie de la blockchain	Investissement	Engagement des partenaires
Investissement en R&D	2,9 millions de dollars	N / A
Pilots de partenaires logistiques	N / A	14 partenaires

Matson, Inc. (MATX) - Analyse du pilon: facteurs juridiques

Conformité aux réglementations sur la sécurité maritime et aux normes internationales d'expédition

Matson, Inc. adhère à plusieurs réglementations internationales de sécurité maritime, notamment:

Corps réglementaire	Exigences de conformité	Coût de vérification annuel
Organisation maritime internationale (OMI)	Conformité de la convention SOLAS	1,2 million de dollars
Garde côtière américaine	Certification du système de gestion de la sécurité	$850,000
Convention internationale pour la prévention de la pollution des navires (Marpol)	Normes de sécurité environnementale	1,5 million de dollars

Lois sur la protection de l'environnement régissant le transport maritime

La conformité environnementale de Matson implique des investissements importants:

Réglementation environnementale	Dépenses de conformité (2023)	Cible de réduction des émissions
Convention de gestion des eaux de ballast	3,4 millions de dollars	90% d'efficacité du traitement de l'eau
Zones de contrôle des émissions de soufre	2,7 millions de dollars	Limite de contenu à 0,5% de soufre

Règlements sur le travail affectant la gestion de la main-d'œuvre

Métriques de conformité de la main-d'œuvre juridique:

• Total de travail maritime: 2 100 employés
• Représentation syndicale: 78% du personnel maritime
• Composiation annuelle des dépenses juridiques: 1,6 million de dollars

Conteste juridique potentielle dans les accords de commerce international et d'expédition

Accord commercial	Risque juridique potentiel	Budget d'atténuation
Conformité Jones Act	Restrictions d'expédition domestiques américaines	4,2 millions de dollars
Accords commerciaux du Pacifique	Complexités de réglementation des douanes	2,9 millions de dollars

Dépenses annuelles totales de conformité juridique: 17,3 millions de dollars

Matson, Inc. (MATX) - Analyse du pilon: facteurs environnementaux

Accent croissant sur la réduction des émissions de carbone dans le transport maritime

Matson, Inc. a rapporté un 15,2% de réduction des émissions de CO2 par conteneur transporté entre 2018 et 2022. Les émissions totales de gaz à effet de serre de la société en 2022 étaient de 1 245 670 tonnes métriques d'équivalent CO2.

Année	Émissions de CO2 (tonnes métriques)	Pourcentage de réduction
2020	1,356,890	8.7%
2021	1,298,450	12.4%
2022	1,245,670	15.2%

Mettre en œuvre des pratiques d'expédition durables et une technologie verte

Matson a investi 287 millions de dollars dans les technologies de navires respectueuses de l'environnement entre 2020-2023. L'entreprise a déployé 3 nouveaux navires alimentés par le GNL avec 30% des émissions inférieures par rapport aux moteurs diesel marins traditionnels.

Investissement technologique	Montant ($)	Année
Mises à niveau des navires de GNL	157,000,000	2021
Systèmes d'efficacité énergétique	86,500,000	2022
Technologies de réduction des émissions	43,500,000	2023

S'adapter aux réglementations environnementales plus strictes dans l'industrie du transport maritime

Matson est conforme aux normes d'international de l'Organisation maritime maritime (IMO) de niveau III d'oxyde d'azote. L'entreprise a obtenu 98,6% de conformité avec les réglementations environnementales maritimes mondiales en 2022.

Investir dans des navires économes en carburant et des technologies de propulsion alternatives

En 2022, la flotte de Matson a atteint une efficacité énergétique moyenne de 22,4 grammes de CO2 par tonne-mile, contre la moyenne de l'industrie de 25,7 grammes. La société a engagé 425 millions de dollars à la modernisation des flotte avec des technologies à faible émission d'ici 2025.

Technologie de propulsion	Investissement ($)	Réduction des émissions
Propulsion de GNL	195,000,000	25-30%
Systèmes électriques hybrides	125,000,000	15-20%
Conceptions de coque avancées	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.