American Shipper by Greg Miller Preliminary Matson numbers point to big gains for larger carriers “We knew it was going to be good, but dadgum …,” exclaimed Stifel analyst Ben Nolan upon seeing the preliminary third-quarter 2020 results from Matson (NYSE: MATX). Matson’s disclosures offer the first signals of how solid Q3 2020 earnings...
Alexander & Baldwin Inc. said today its board of directors has approved a plan to split the company into two separate companies, one focusing on real estate and agriculture and the other on shipping. The two companies would be independent and publicly traded, the company said in a news release. Under the plan, A&B...
Although its agribusiness sector continued its recovery in the first quarter, Alexander & Baldwin’s usual profit center, Matson Navigation Co., lost money, and the company reported a thin profit of $5.2 million, or 12 cents per share, Tuesday. President Stanley Kuriyama said Matson couldn’t adjust its fuel surcharges fast enough to keep up with...
Alexander & Baldwin Inc. has been in business 141 years, and for most of that time the kamaaina company has stood on three legs, each representing a major industry closely tied to Hawaii — agriculture, shipping and real estate. The stool has been pretty sturdy, enabling the Honolulu-based company to realize or improve gains from...
One of Hawaii’s last venerable Big Five companies, Alexander & Baldwin Inc., could be under pressure to break itself up. A New York hedge fund manager known to agitate for change in his investment targets bought nearly 10 percent of A&B along with a partner, it was announced yesterday. The purchase triggered expectations the 141-year-old...
Alexander & Baldwin Inc. earnings were about flat in the last three months of 2010, but bigger gains earlier in the year enabled the diversified Honolulu-based company to more than double its full-year profit. A&B reported 2010 net income of $92.1 million, up from $44.2 million the year before. Fourth-quarter net income was $20.2...
SAND ISLAND (HawaiiNewsNow) – Hawaii’s largest shipment of Christmas trees from the mainland is here. On Sunday morning, inspectors combed through them and they found some creatures who came along for the joy ride. A salamander, some tree frogs, and a cricket are among the hitchhikers in this season’s shipment of Christmas trees. But...
After a year and a half of review, the Public Utilities Commission has granted Pasha Hawaii Transport Lines authority to carry cargo between island ports, provisionally through the end of 2013. Pasha (pronounced PAY-sha, the name of the California family that owns the privately held business) sails the MV Jean Anne to Kahului every...
Alexander & Baldwin Inc. said it earned $28.9 million, or 70 cents per share, in the second quarter. President Stan Kuriyama called it “a strong second quarter” compared with the $12.6 million earned in the second quarter of 2009. Revenue was $398.9 million, compared with $351.0 million for the year before. On Maui, Hawaiian...