Matson Inc., has signed a definitive agreement to acquire assets formerly owned by Auckland, New Zealand-based Reef Shipping. The financial terms of the agreement were not disclosed; closing is expected to occur on or about year-end.
Under the deal, the Honolulu-based U.S.-flag carrier will acquire four vessels and approximately 1,500 pieces of container equipment. The ocean carrier said it would continue to provide service to Reef's historical core trade lanes from Auckland and Fiji to Nauru, the Solomon Islands, Tahiti, Samoa, the Cook Islands, Niue, Tonga, Wallis and Futuna, Vanuatu, Tarawa and Majuro. These will be new markets for Matson.