Ocean shipping and logistics services provider Matson saw improved third quarter profits as higher China and domestic freight rates offset mixed container volumes.
Operating income was $227 million for the three months ended Sept. 30, up from $118 million in the year-ago quarter, the Honolulu-based carrier said in an earnings release. Revenue from ocean transportation increased to $799 million from $669 million.
Earnings per share was $5.89 compared with $3.40 y/y. Earnings before interest,...
https://www.freightwaves.com/news/china-boosts-matson-net-in-q4