Matson, Inc 8-K, filed Aug 26, 2020
Matson, Inc. (MATX)
About this 8-K
Matson, Inc filed this 8-K on August 26, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 26, 2020 (
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Item 7.01.Regulation FD Disclosure.
On August 26, 2020, Matson, Inc. (the “Company”) issued a customer advisory regarding its new Alaska-Asia Express service (“AAX”) as part of the CLX+ return voyage from Long Beach, California to Ningbo and Shanghai, China with a port call at Dutch Harbor, Alaska. A copy of the customer advisory is attached hereto as Exhibit 99.1. The Company expects the AAX service to be a modest contributor to Alaska volume and consolidated operating income in the full year 2020.
Statements in this Form 8-K that are not historical facts are “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. Factors that could cause actual results to differ materially from those contemplated in the statements include, without limitation, those described on pages 24-34 of the Form 10-Q filed by the Company on May 5, 2020. These forward-looking statements are not guarantees of future performance. Actual results could differ materially from those anticipated in the forward-looking statements and future results could differ materially from historical performance.
The information in this report (including Exhibit 99.1) is being furnished pursuant to Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01.Financial Statements and Exhibits.
(a) - (c) Not applicable.
(d) Exhibits.
The exhibit listed below is being furnished with this Form 8-K.
99.1 | |
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104 | Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MATSON, INC. |
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| /s/ Joel M. Wine |
| Joel M. Wine |
| Senior Vice President and Chief Financial Officer |
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Dated: August 26, 2020 | |
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Exhibit 99.1
August 26, 2020
Subject: Introducing ‘Alaska-Asia Express’ (AAX)
Dear Matson Customer,
We are pleased to announce a new direct service from Alaska to Asia designed specifically for Alaska’s seafood industry. The new service will commence with the first westbound sailing from Dutch Harbor on Wednesday, September 30, 2020.
Our Alaska-Asia Express (AAX) service connects with Matson’s existing Alaska service, which links Dutch Harbor with fast weekly service from Kodiak and Anchorage. Shippers in the Kenai Peninsula will also have easy access to AAX via truck connections to Anchorage.
Already an important hub for Alaska’s seafood industry, Matson’s Dutch Harbor operations and terminal facilities offer ample equipment and space for growth in container volume, including capacity to accommodate nearly 1,200 live refrigerated containers.
This new service will also provide seafood shippers the flexibility to easily reroute shipments from export to domestic - or vice versa.
In addition to our well-established terminal operations and intermodal network in Alaska, Matson is fully equipped with a large fleet of owned dry and refrigerated containers, as well as a large inventory of owned chassis to make customer shipments available as quickly as possible. The company’s terminal and customer service teams possess decades of experience in Alaska managing refrigerated shipments.
Sales Team Appointed
We are also pleased to announce that Ken Kogishi has joined Matson as Director of Strategic Accounts. Based in Renton, WA, and reporting to Director, Pacific Northwest Sales Chris Dianora, Ken joins Matson’s longtime seafood specialist and Director of Strategic Accounts Dan Fay in leading our sales activities for the AAX service.
For more details on Matson’s Alaska-Asia Express service, including ports served, sailing schedules and booking information, please visit https://www.matson.com/ocean-services/asia.html
If you have any questions, please contact your account executive or our Customer Service Center at 877-678-7447.
Thank you for shipping with Matson.