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March 16, 2014
16:31 EDTMATXUncertainty, spill cleanup could cause sell-off of Matson shares, Barron's says
Matson's shares look expensive; however, a sell-off could occur due to the possibility that the shipping company may get hit with hefty costs to clean up its molasses spill in Honolulu Harbor, Barron's contends in a feature article. Reference Link
News For MATX From The Last 14 Days
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July 30, 2015
16:24 EDTMATXMatson secures 'attractive' new financing arrangements
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05:24 EDTMATXMatson, state of Hawaii reach settlement on molasses incident of 2013
Matson announced that a settlement has been reached with the State of Hawaii to resolve all civil, criminal and administrative claims that the State could have had arising from the discharge of molasses into Honolulu Harbor in September 2013. Matson will pay $5.9M to the State as compensation for damaged coral and lost fish, as well as the State's response and other costs. As part of the settlement, Matson has terminated its molasses operations in Honolulu and has committed to remove the molasses risers and tanks at Sand Island terminal at an estimated cost of between $5.5M-$9.5M bringing the total cost to Matson of between $11.4M-$15.4M. Matson will record an $11.4M charge in its Q2 results which will be released on August 4.
July 28, 2015
16:29 EDTMATXMatson moving quicklyto fund improvements in Alaska operations
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