Matson Navigation Co. has taken delivery of its newest containership, the MV Maunalei, from Aker Philadelphia Shipyard, the company announced yesterday.

The Maunalei, the company's fourth new ship in as many years, rounds out Matson's modernization and replacement program. The Maunalei follows the delivery of the Manukai in 2003, the Maunawili in 2004 and the Manulani in 2005.

"Having added only one new ship to the Matson fleet between 1983 and 2002, the four new vessels with a capital cost of over $500 million are essential to the current and future success of Matson," said W. Allen Doane, Matson chairman and chairman and CEO of parent company Alexander & Baldwin Inc. The Maunalei will leave Philadelphia and begin service in August.

Matson, the state's largest cargo shipper, said the new cargo vessels will ensure the reliability of Matson's service and are at least 25 percent more fuel-efficient than the older ships.

"This comes during a period where oil prices have tripled," said Matson president and CEO James Andrasick.

Andrasick also cited "the confidence these new ships have given us to enter China, the most significant and largest export market in the world."

Matson launched its China-Long Beach Express — which begins in Long Beach and stops in Hawai'i, Guam, Ningbo and Shanghai — in February. That service includes the new ships as well as the MV R.J. Pfeiffer.

Reach Lynda Arakawa at larakawa@honoluluadvertiser.com.