Matson Releases Preliminary Q1 Results

Ahead of its first quarter earnings call set for April 27, Matson, Inc. Chairman and Chief Executive Officer Matt Cox recently said the company’s 2021 is “off to a strong start” with solid performance from Ocean Transportation and Logistics.

“Within Ocean Transportation, our China service continued to see significant demand for its CLX (China-Long Beach Express) and CLX+ expedited ocean services as volume for e-commerce and other high demand goods remained elevated, which resulted in very strong pre- and post-Lunar New Year volumes,” he said. “Our financial performance in the China service was the primary driver of the increase in consolidated operating income year-over-year.”

He predicted that ongoing supply chain congestion, particularly at the California ports, will likely continue through the second quarter and peak season.

“We also expect demand in the Transpacific trade lane to remain favorable as elevated consumption trends, including heightened e-commerce activity, are expected to continue beyond the second quarter,” Cox explained. “Consequently, we expect significant demand for our expedited CLX and CLX+ services to remain throughout the peak season into late October.”

By Pacific Maritime