The rest of us have been at Ocean Transportation, logistics providers for combined 175 years, the six of us. So we have been at it a long time and we think we know what we are doing and provide a lot of continuity in this business.
Just to look at Matson at a glance, in 2011 we had revenues of just under $1.5 billion, $1.1 billion at the Ocean Transportation level and about $400 million at the logistics level. You could see the bulk of last year’s profit came from the Ocean Transportation segment and just under $80 million in operating profit. We have about 1100 employees. We have 17 vessels and we will go into much more detail in the following slides.
With that I am going transition and spend few minutes on corporate strategy, how we see the world, what are our goals, what are our aspirations, how we organize ourselves, what are we trying to do.
And then on slide 10 we start with our vision, basically we have been as I mentioned in my introductory comments in the Pacific a very long time, it’s our home, it’s our back yard. What we want to do as an overall strategy is to leverage the Matson brand and our capabilities into compatible new geographies and services. That’s how we serve important markets in the specific, we are always looking to where we can expand, as an operating business we are always focusing and operating a 24-hour data network business. It’s important for us to look for ways in which we can continue to improve our network and internally it’s very important in Matson culture to always do the right thing and do those by our customers, our employees and the communities we serve.So what are our key strategies for Matson? On the Ocean Transportation side many of these topics by the way we will be covering in more detail with the other presenters. So I just want to touch on them here and not delve too deep, but we have plenty of time to talk about these strategies in more detail on the following slides.