Matson feels transpacific drop
The Honolulu-based Matson Navigation Company recently reported its Q3/2022 results, disclosing its deployment strategy. Chairman and CEO Matt Cox spoke of "lower demand in the transpacific trade lane”. The carrier thus decided to end its temporary CCX service about six weeks earlier than expected.
In total, Matson expects a third quarter operating income for ocean transportation of USD 310.0 to USD 315.0 million and a logistics operating income of approximately USD 20.0 million.
While Hawaii-targeted container volumes decreased by 7.1% compared to the same period last year due to lower retail-related demand, Alaska volumes grew by 10.6%. Guam volumes moved sidewards by 1.8%, while China volumes dropped by 15.1%. Other container volumes increased by 11.1%. (sh)