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MATSON BEGINS CONSTRUCTION ON FIRST OF THREE NEW LNG-POWERED ALOHA CLASS CONTAINERSHIPS

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$1 Billion investment part of long-term decarbonization strategy

PHILADELPHIA, Sept. 30, 2024 /PRNewswire/ — Matson, Inc. (“Matson”; NYSE: MATX) today announced the start of construction on the first of three new “Aloha Class” containerships designed for its Hawaii and China-Long Beach Express (CLX) services. After a small ceremony at Philly Shipyard in Pennsylvania, the cutting of steel plates began, initiating the work to build the ships for delivery to Matson in 2026 and 2027.

The three new Jones Act-compliant vessels, representing an investment of approximately $1 billion, will be built to match the size and speed of Matson’s two existing Aloha Class ships, Daniel K. Inouye, and Kamina Hila, which were also built by Philly Shipyard and entered service in 2018 and 2019, respectively, as the largest containerships ever constructed in the U.S.

Like their sisterships, the new vessels will be equipped with dual fuel engines designed to operate on either conventional marine fuels or liquefied natural gas (LNG), as well as other “green ship technology” features, such as a fuel-efficient hull design, environmentally safe double hull fuel tanks, and freshwater ballast systems. While the earlier ships required some modification to operate with LNG, the new ships will be delivered LNG-ready.

The first vessel is expected to be delivered in the fourth quarter of 2026 with subsequent deliveries in 2027.

“Our existing Aloha Class ships are among the fastest, most efficient vessels in the Matson fleet,” said Matt Cox, chairman and chief executive officer. “And like their sisterships, these three new vessels will help Matson achieve its 2030 greenhouse gas emissions reduction goal while also providing additional capacity and speed benefitting our Hawaii service as well as the CLX.”

Matson has set corporate goals to achieve a 40 percent reduction in Scope 1 greenhouse gas (GHG) fleet emissions by 2030 and net-zero Scope 1 GHG emissions by 2050.

With a carrying capacity of 3,600 TEU,* the 854-foot Aloha Class vessels are designed to operate at speeds in excess of 23 knots in support of Matson’s service hallmark – fast and reliable delivery of goods. 

The three new Aloha Class ships will replace three vessels currently deployed in Matson’s Hawaii and CLX services.

Philly Shipyard is a leading U.S. commercial shipyard constructing vessels for operation in the domestic Jones Act trade lanes.  Prior to Matson’s first two Aloha Class ships, the shipyard delivered four newly built Jones Act containerships for Matson between 2003 and 2006.

“Today we celebrate not only the beginning of production, but also the return of Matson to Philly Shipyard for our third project together,” said Steinar Nerbovik, Philly Shipyard’s President and CEO. “We are thrilled to build these next vessels which are expected to help Matson achieve its 2030 greenhouse gas emissions goal, an initiative well-aligned with our commitment to people and planet.”

Vessel Names Announced

Matson plans to name the three new containerships Makua, Malama, and Makena. Founded in 1882 as a Hawaii-focused business, Matson has a long tradition of giving Hawaiian names to its vessels serving Hawaii, and also reusing vessel names from the early 20th century.  Most recently, Matson reused the names Lurline and Matsonia for its Kanaloa Class vessels delivered in 2019 and 2020 – the sixth and fifth vessels, respectively, to carry these historic names.

Matson’s original ships named Makua, Malama, and Makena were all freighters commissioned by the United States Shipping Board (USSB), an emergency agency established by the 1916 Shipping Act to increase the number of U.S. ships supporting the war effort during World War I. They were purchased by Matson in the 1920s and remained active in the Matson fleet for the next two decades.

Makua (“mah-KOO-ah”) is a Hawaiian word for parent, elder, ancestor, or family.
Malama (“MAH-lah-mah”) is a Hawaiian word meaning to care for or protect.
Makena (“Mah-KEN-ah”) is a Hawaiian word for abundance.

* TEU = Twenty-foot Equivalent Units, the standard unit of measurement for container capacity

About Matson
Founded in 1882, Matson (NYSE: MATX) is a leading provider of ocean transportation and logistics services. Matson provides a vital lifeline of ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, and to other island economies in Micronesia. Matson also operates premium, expedited services from China to Long Beach, California, provides service to Okinawa, Japan and various islands in the South Pacific, and operates an international export service from Alaska to Asia. The Company’s fleet of owned and chartered vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges. Matson Logistics, established in 1987, extends the geographic reach of Matson’s transportation network throughout North America and Asia. Its integrated, asset-light logistics services include rail intermodal, highway brokerage, warehousing, freight consolidation, supply chain management, and freight forwarding to Alaska. Additional information about the Company is available at www.matson.com.

Investor Relations inquiries:

Justin Schoenberg

Matson, Inc.

510.628.4234

jschoenberg@matson.com

News Media inquiries:

Keoni Wagner

Matson, Inc.

510.628.4534

kwagner@matson.com

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SOURCE Matson, Inc.

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Consumer Watchdog Saves Policyholders More Than $53 million with 21st Century, USAA, and Liberty Insurance Rate Hike Challenges

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LOS ANGELES, Nov. 5, 2024 /PRNewswire/ — Consumer Watchdog recently reached settlement in three challenges to double-digit rate hikes requested by 21st Century Insurance Company for its auto policies, United Services Automobile Association (“USAA”) for its homeowners, renters and condo policies, and Liberty Insurance Corporation for its homeowners policies. Consumer Watchdog’s advocacy resulted in a total savings of more than $53 million for California policyholders. The three companies’ newly-approved rates will take effect for all new and renewal policies between November 18, 2024 and February 12, 2025, and will impact over 671,000 policyholders combined. 

According to Consumer Watchdog’s analysis of the rate filings, the companies were overstating projected losses, causing their proposed rates to be excessive by millions of dollars. “Given the current state of the California insurance market, with insurer-created shortages and massive rate increases, it’s important that applications are closely scrutinized,” said Consumer Watchdog Staff Attorney Benjamin Powell. “Consumers’ seat at the table to challenge excessive rates is critical, especially when insurance companies are requesting multiple major rate hikes in the same year.”

In each case, Consumer Watchdog successfully advocated for lower overall rate increases under Prop 103 and prior approval rate regulations, which require insurers to justify all rate changes prior to implementation. 

Company/Line of Insurance

% Overall Rate Increase Requested

% Overall Rate Increase Approved

$ Savings 

Date Approved

Effective Date

21st Century/Auto

18.4 %

15.9 %

11.56 mill

10/2/24

11/18/24

USAA/Homeowners, Renters, Condo Owners

20.2 %

16.8 %

10.37 mill

10/4/24

2/12/25

Liberty Insurance Corp. /Homeowners

29.1 %

16.5 %

31.08 mill

10/2/24

12/10/24

 

In the 21st Century proceeding, the company initially sought a rate increase of 18.4% to its automobile insurance policies. This request followed a prior $29 million dollar rate increase effective January 2024. Consumer Watchdog challenged the rate hike as excessive under Prop 103 and the Department’s ratemaking regulations, specifically challenging 21st Century’s projected losses as being inflated for giving too much weight to recent losses. Additionally, Consumer Watchdog alleged that 21st Century’s method for projecting Bodily Injury and Uninsured Motorist claims would have resulted in excessive rates. Finally, Consumer Watchdog argued that 21st Century was trying to charge consumers for institutional advertising (ads designed to improve the company’s image rather than aimed at selling specific insurance products), in violation of state rules. (Read Petition)  

Consumer Watchdog requested that 21st Century provide further information to substantiate its application, and successfully advocated for a lower rate increase of 15.9%, representing a savings to California policyholders of more than $11.5 million. (Read Stipulation

In the USAA proceeding, the company sought an overall rate increase of 20.2% for its homeowners, condo and renters policies combined, which would have cost California policyholders an overall $53 million. Consumer Watchdog challenged the rate hike as excessive, calling out United Services’ projected losses as being overinflated. Consumer Watchdog also alleged that USAA was in violation of the rules by failing to provide required information to the Department to substantiate its loss projections. Finally, Consumer Watchdog argued that USAA, like 21st Century, had failed to properly exclude expenses for institutional advertising. (Read Petition)  

Consumer Watchdog requested that USAA provide further information in order to substantiate its claims about losses and other information in its application. Consumer Watchdog ultimately achieved a lower rate increase of 16.8%, saving California policyholders a total of more than $10 million. (Read Stipulation)

In the Liberty proceeding, the company sought an overall rate increase of 29.1% for its homeowners insurance policies, at a total cost to California policyholders of over $67 million. Consumer Watchdog argued that the requested rate increase was excessive. As with the 21st Century and USAA filings, Consumer Watchdog argued that Liberty’s trend selections overstated the projected losses, leading to an inflated rate indication. Additionally, Consumer Watchdog challenged Liberty’s claim that only 1% of its advertising expenses were “institutional” in nature. (Read Petition)

Consumer Watchdog sought additional information from Liberty that would support its trend selections and institutional advertising percentage. Through this information exchange Consumer Watchdog convinced the Department that Liberty’s institutional advertising percentage should be 100%, not 1%. 

“Consumers are inundated with ads from insurance groups, with nearly 10% of all television advertising expenses coming from insurers,”[1] said Consumer Watchdog staff attorney Ryan Mellino. “Prop 103 protects consumers from paying for general advertising. If insurers are going to expend billions of dollars in collected premiums on ads, that expenditure must be properly reflected in their rate filings.” 

Consumer Watchdog ultimately agreed that a 16.5% rate increase, reflecting just over half of the 29.1% increase Liberty initially sought, was reasonable, saving policyholders over $31 million. (Read Stipulation)

California’s voter-approved insurance reform law, Proposition 103, requires that insurers open their books and prove they need to raise rates in a process subject to full transparency, in which consumer representatives have the right to review and challenge improper rates and practices. According to the Consumer Federation of America, Prop 103 has saved California motorists over $154 billion since 1989. Consumer Watchdog has saved California consumers over $6 billion over the last 22 years by challenging excessive and unfair auto, home, business, and medical malpractice rates.

For more information about Proposition 103 visit: https://consumerwatchdog.org/prop-103/

[1] Doug Bailey, Insurance industry ads continue to be among top watched, InsuranceNewsNet, Aug. 22, 2022, https://insurancenewsnet.com/innarticle/insurance-industry-ads-continue-to-be-among-top-watched.

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SOURCE Consumer Watchdog

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Therap Services Enhances Healthcare Efficiency with Secure Document Signing Module for Streamlined Digital Signatures

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TORRINGTON, Conn., Nov. 5, 2024 /PRNewswire/ — Therap Services, the national leader in providing HIPAA-compliant electronic documentation solutions to organizations and caregivers in the LTSS, HCBS, and broader human services settings is excited to introduce the Secure Document Signing Module (SDS) for streamlined digital signatures. This innovative module is set to transform how agencies manage document signing, offering enhanced security and operational efficiency.

The Secure Document Signing (SDS) Module from Therap Services provides a streamlined approach for users to upload PDF documents, assign appropriate Therap users to apply their signatures or initials, and then make these documents available for signing. Once published, these documents appear in the designated signers’ “To Do” tabs, simplifying the process of adding signatures. The module also offers the capability to download signed documents and re-upload them to Therap platform to confirm their authenticity, ensuring they have not been altered after signing.

The SDS module is versatile, supporting various document types such as Agency, Individual, Case Notes, and Individual Plan, making it a comprehensive solution for the healthcare sector’s diverse documentation needs. It allows agency-wide administrators and those in specific administrative roles to create SDS documents for organizational use, while providers with specific caseload roles can generate documents for individual cases. This integration with existing Case Note and Individual Plan workflows introduces a “Secure Document Signing” section for users with designated roles, streamlining the documentation process further.

The process of using the SDS feature is user-friendly; agencies or individuals simply upload the needed PDF to the Therap system. The interface is intuitive, facilitating the easy marking of areas on the document where signatures or initials are required. Once the document is ready and published, signees can apply their signatures as outlined. The system also provides functionalities to search, sign, update, and discontinue SDS documents, enhancing the efficiency of document management.

With the introduction of the SDS module, Therap continues to lead in the enhancement of digital solutions within healthcare. This module not only simplifies the document signing process but also enhances security and usability, fostering a more effective digital workflow for healthcare professionals.

For more information, visit https://www.therapservices.net/products/comprehensive-esolution-for-person-centered-services/

About Therap

Therap’s comprehensive and HIPAA-compliant software is used in human services settings for documentation, communication, reporting, EVV and billing.

Learn more at www.therapservices.net.

Related Links

http://www.therapservices.net

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SOURCE Therap Services

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Mutually Human Expands Expertise Through Strategic Merger with SpinDance, a Leading Software Innovator

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Mutually Human, a leading digital engineering firm specializing in artificial intelligence, data, and software development, is excited to announce its merger with SpinDance, a full-stack IoT solutions provider and software development company known for its deep expertise in embedded systems, cloud platforms, and user interface design.

GRAND RAPIDS, Mich., Nov. 5, 2024 /PRNewswire-PRWeb/ — Mutually Human, a leading digital engineering firm specializing in artificial intelligence, data, and software development, is excited to announce its merger with SpinDance, a full-stack IoT solutions provider and software development company known for its deep expertise in embedded systems, cloud platforms, and user interfaces. The combined entity will operate under the Mutually Human brand, enhancing its service offerings and providing even greater value to clients.

Together, we’ll continue to help organizations innovate by addressing both their current and emerging needs, especially in the rapidly growing areas of IoT and embedded software.

SpinDance, which recently celebrated 24 years in business, brings deep capabilities in embedded and IoT software to the merger, expanding Mutually Human’s reach into these areas. With a shared focus on client relationships, personalized service, and deep technical capabilities, the combined company is positioned to offer comprehensive digital solutions, empowering clients to navigate today’s complex technology landscape.

“We are thrilled to join forces with SpinDance, a company whose values, culture, and expertise align so well with our own,” said Jason Kuipers, President of Mutually Human. “This merger not only strengthens our core capabilities but also enables us to deliver more holistic, future-proof solutions for our clients. Together, we’ll continue to help organizations innovate by addressing both their current and emerging needs, especially in the rapidly growing areas of IoT and embedded software.”

Both Mutually Human and SpinDance are deeply rooted in the technology community, each having built strong reputations for innovation, technical expertise, and client service. This merger solidifies their commitment to maintaining these values while expanding their ability to offer cutting-edge digital transformation solutions.

“We are proud to join Mutually Human in this new chapter,” said Kim Burmeister, CEO of SpinDance. “For over two decades, SpinDance has been helping businesses solve critical challenges through software development. By merging with Mutually Human, we can leverage our shared strengths to better serve our clients and continue driving innovation through meaningful digital solutions.”

This merger marks a milestone for both companies, bringing together two trusted names in software development and digital transformation to provide a wider range of services to clients both regionally and beyond.

Century Technology Group, Mutually Human’s parent company, offered key support and strategic direction during the merger. Dedicated to promoting growth and innovation, Century Technology Group plays an essential role in shaping Mutually Human’s strategic decisions and long-term success.

About Mutually Human

Mutually Human is a full-service digital engineering firm that addresses complex business challenges with a focus on People, Process, and Technology. By harnessing the power of Artificial Intelligence, Data, and Software, they help companies optimize operational efficiency, drive data-informed decisions, and elevate the customer experience. Mutually Human collaborates closely with clients to create and implement technology that’s intuitive, outcome-driven, and empowers organizations to achieve more with less. For more information about Mutually Human, visit www.mutuallyhuman.com.

About SpinDance

SpinDance designs and develops fully integrated, custom software systems that bring products to life with elegant, compelling user experiences. Their passion for crafting the highest quality solution, combined with their big-picture, human-centered systems approach, results in innovative products that just work. Their in-house team can help you take a product from ideation through planning and development to growth and scale – using embedded, cloud, web/mobile, and machine learning technology. Their highly skilled team is motivated, nimble, easy to work with, and above all, dedicated to your success. For more information about SpinDance, visit www.spindance.com.

About Century Technology Group

Century Technology Group is a family office based in Grand Rapids, MI. The firm partners with proven operating leaders to provide growth capital, administrative resources, and managerial consulting to promising technology-led businesses with strong core products, services, or capabilities. Their portfolio companies also include MindSpring, a global leader in digital content production, and Talent Strategy, a professional search and recruiting firm. For more information, please visit www.centurytechgroup.com.

Media Contact
Joel Ippel, Mutually Human, 1 6164754225, joel.ippel@mutuallyhuman.com, www.mutuallyhuman.com

View original content to download multimedia:https://www.prweb.com/releases/mutually-human-expands-expertise-through-strategic-merger-with-spindance-a-leading-software-innovator-302296151.html

SOURCE Mutually Human

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