New Matson Bi-Weekly Liner Operation to Improve Frequency of Service for FSM and Marshall Islands.OAKLAND, Calif. -- Matson Navigation Company Matson Navigation Company, a subsidiary of Alexander & Baldwin, is a private ocean transportation company with roots extending into the late 19th century. It is credited with introducing mass tourism to Hawaii with the opening of the Moana Hotel (now known as the Moana Surfrider Hotel) , Inc. (Matson) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALEX) announced today that it is upgrading its service to eastern Federated Connected and treated as one. See federated database and federated directories. States of Micronesia (FSM See finite state machine. 1. (mathematics, algorithm, theory) FSM - Finite State Machine. 2. (networking) FSM - FDDI Switching Module. (3Com implements this device on its LAN switches). ) and the Republic of the Marshall Islands Marshall Islands, officially Republic of the Marshall Islands, independent nation (2005 est. pop. 59,000), in the central Pacific. The Marshalls extend over a 700-mi (1,130-km) area and comprise two major groups: the Ratak Chain in the east, and the Ralik Chain in (RMI (Remote Method Invocation) A standard from Sun for distributed objects written in Java. RMI is a remote procedure call (RPC), which allows Java objects (software components) stored in the network to be run remotely. ), effective August 4, by introducing a new bi-weekly liner service from Guam. Matson is chartering a 425-foot vessel for the new feeder service, which will call Ebeye, Kwajalein, Majuro, Kosrae, Pohnpei and Chuuk. Matson currently offers a monthly service to the Marshall Islands from Honolulu via the container barge Islander and a 21-day service from Guam to Kosrae, Pohnpei and Chuuk via a connecting carrier agreement. The improved frequency of service will allow these island businesses to diversify their product line while concurrently saving inventory costs. The shift of Matson's Marshall Island operations from Honolulu to Guam will further increase the amount of transshipment Transshipment The passing goods from one ocean vessel to another. activity in Guam, making it a dynamic hub in the Pacific and facilitating the economic growth of the islands. Matson will continue to offer weekly service via connecting carrier agreements to Yap, Palau, Saipan, Tinian and Rota. With this enhanced service, the FSM and RMI will be well positioned to participate in global trade, with Guam as a major gateway in the Pacific. "With this new service, Matson will offer these Pacific islands the best frequency ever offered in the region," said Dave Hoppes, senior vice president, ocean services. "By introducing this new bi-weekly liner service, Matson will further strengthen its ocean transportation infrastructure for Guam and FSM. Earlier this year, the company inaugurated a new Matson-dedicated service from the West Coast to Guam, succeeding its former 10-year operating agreement with APL (A Programming Language) A high-level mathematical programming language noted for its brevity and matrix generation capabilities. Developed by Kenneth Iverson in the mid-1960s, it runs on micros to mainframes and is often used to develop mathematical models. . Today, Guam is served by Matson's five most modern, fuel-efficient containerships, including four new ships built in the past four years. Similarly, on the West Coast, Guam and Micronesia cargo move through Matson-dedicated operations, focused specifically on Matson's customer needs. All of this results in a modern, efficient and reliable service from the U.S." The chartered vessel, MV Cerrina, has the capacity for 650 TEUs and is equipped with two onboard cranes. The ship will be renamed Islander before the service starts up in August. "Matson is particularly excited about this newest service enhancement to the FSM and Marshall Islands in that we are able to improve the level of service we provide while concurrently reducing our customers' inventory costs," added Hoppes. "We are confident that the bi-weekly liner service will benefit all of our customers in the region. It is also a positive development for Guam, as it will now be served by a modern fleet from the U.S. and a bi-weekly liner service to neighboring islands that is designed to promote further development of Guam as a major transshipment center in the Pacific." Matson is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Alexander & Baldwin, Inc. of Honolulu (NASDAQ: ALEX). |
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