Matson, unions reach 5-year agreements

Matson Navigation, Hawaii's largest shipping company, settled contract agreements with three of its unions on Monday.

Matson said the five-year agreements cover 200 unionized positions with the Seafarers International Union-Marine Cooks, the Sailors Union of the Pacific, and the Marine Firemen, Oilers, Watertenders and Wipers Association.

The previous contracts were set to expire Monday. In mid-June the Sailors Union authorized its leadership to call a strike.

Matson, owned by Honolulu-based Alexander & Baldwin Inc. (Nasdaq: ALEX), handles about 70 percent of ocean freight to and