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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

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 (August 26, 2020)

MATSON, INC.

(Exact Name of Registrant as Specified in its Charter)

_____________________

Hawaii

   

001-34187

   

99-0032630

(State or Other Jurisdiction of
Incorporation)

(Commission File Number)

(I.R.S. Employer Identification
No.)

1411 Sand Island Parkway

   

Honolulu, Hawaii

96819

(Address of principal executive offices)

(zip code)

Registrant’s telephone number, including area code: (808) 848-1211

(Former Name or former address, if changed since last report)

_____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, without par value

MATX

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

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

Matson, Inc. Customer Advisory dated August 26, 2020.

104

Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101).

2

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.

/s/ Joel M. Wine

Joel M. Wine

Senior Vice President and Chief Financial Officer

Dated: August 26, 2020

3

Exhibit 99.1

MATSON_HI_cmyk

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.


v3.20.2
Document and Entity Information
Aug. 26, 2020
Document and Entity Information [Abstract]  
Document Type 8-K
Document Period End Date Aug. 26, 2020
Entity File Number 001-34187
Entity Registrant Name MATSON, INC.
Entity Incorporation, State or Country Code HI
Entity Tax Identification Number 99-0032630
Entity Address, Address Line One 1411 Sand Island Parkway
Entity Address, State or Province HI
Entity Address, City or Town Honolulu
Entity Address, Postal Zip Code 96819
City Area Code 808
Local Phone Number 848-1211
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, without par value
Trading Symbol MATX
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000003453
Amendment Flag false