Matson to invest $30m in upgrading Alaskan business it bought from Horizon Lines
US carrier Matson is planning to invest more than $30 million in the Alaskan business it acquired from Horizon Lines in May, it was announced on Wednesday.
This will include funding for new equipment which had been planned by Horizon prior to its acquisition.
Upgrades over the next three months include 2,000 new standard 40-foot dry containers for general cargo, a new 65-ton gantry crane for Kodiak Terminal , 430 new insulated containers for winter operations and two new Kenworth tractors for Anchorage Terminal container positioning.
The company will also ensure modifications are done on the three former Horizon D7 Class vessels it now operates in Alaska, with the aim of bringing the ships into compliance with US federal emissions regulations. Once in place, the modifications will virtually eliminate sulfur dioxide and particulate emissions.
In May this tear Matson bought Horizon Lines non-Hawaii business for $469 million, meaning mainly Alaska routes and assets. Matson already had its own Hawaii business as it is a venerable shipper between the islands and the Pacific coast.
Around the same time Horizon Lines sold its Hawaii interests to The Pasha Group for $141.5 million.
Formerly the largest Jones Act maritime shipping firm, Horizon cited continued losses and struggles to operate and maintain its steam-powered fleet as reasons for the sales.
- Splash 24/7
- Published on:
- July 30, 2015
- Source url: