Matson Archives - The Loadstar

Superstar Matson – ‘a thing of the future too’

Alessandro Pasetti — Mon, 04 Nov 2024 11:28:21 +0000

It doesn’t matter in business how many times you repeat the same task over and over, if it successfully leads to a ton of value creation.
Enter skyrocketing, anti-cyclical $5.1bn-market-cap niche carrier Matson (MATX).
The Honolulu-based, US domestic and transpacific premium box line reported last week stunning operating figures that weren’t just good in Ocean…
… but also shone in non-core Logistics.
Talking of which, briefly: supply chain management services benefited from similar market ...

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Mærsk Line shoots to the bottom of earnings/teu league

Gavin van Marle — Thu, 26 Sep 2024 09:58:05 +0000

If revenues from ocean shipping have hitherto been the main financial focus for AP Møller-Mærsk (APMM) to fulfil its end-to-end container integrator strategy in supply chain, its logistics proposition definitely needs to pull its weight sooner rather than later in order to strengthen the group’s earnings power.
That’s one immediate takeaway from leading coverage in this week’s Alphaliner report, which ran comprehensive analysis on first-half operating profits (or Ebit) of nine, ...

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Transpacific volumes bounce back as consumers carry on spending

Mike Wackett — Thu, 26 Oct 2023 13:03:27 +0000

US domestic and transpacific carrier Matson has reported “solid freight demand, despite the muted peak season” in Q3 for its niche China to USWC service.
Preliminary Q3 results of the Honolulu-based company show volumes from China to Los Angeles edged down just 1.3% on the same quarter of last year, despite being impacted by last September’s termination of one of its service loops.
Matson will publish its full-Q3 results on Monday, but ...

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Good news, and bad news, on the freight rate front for carriers

Mike Wackett — Fri, 21 Jul 2023 11:58:17 +0000

Container spot rates from Asia to the US spiked this week, while carriers managed to halt the decline in short-term rates from Asia to North Europe.
However, spot rate on the transatlantic westbound have tumbled again, with average rates closing in on $1,500 per 40ft.
The latest analysis from John McCown for US container imports in June shows a year-on-year 18.6% reduction in volume, to 1,747,698 teu, at the top 10 US ...

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HMM tops Xeneta ‘name and fame’ list of greenest shipping lines

Joe Ortiz — Tue, 06 Jun 2023 12:35:12 +0000

HMM tops the emissions rankings for the US west coast-Far East tradelane, according to Xeneta’s latest ‘naming and faming’ list – though the results have damning implications for American Jones Act carrier Matson.
Following recent criticisms of the IMO’s CII as an ‘own-goal’, on the grounds it unduly punishes the operating profile of feeder vessels, the regulatory microclimate of the US Jones Act market provides an early warning of the implications ...

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Hopes of a transpacific turnaround as Q1 numbers come in

Mike Wackett — Thu, 20 Apr 2023 12:23:07 +0000

The downturn on the transpacific, compared with the pandemic-driven boom of the past two years, is palpable as ocean carriers start to post their Q1 results – but there are suggestions a rebound is imminent.
First-quarter preliminary results from US domestic and transpacific carrier Matson saw container volumes on its China service slump 35% on the previous year, as American consumers drastically cut back on discretionary spending.
Matson chairman and CEO Matt ...

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Matson Q4 numbers reflect downturn in transpacific demand

Mike Wackett — Thu, 19 Jan 2023 13:37:56 +0000

Transpacific container carryings from Asia to the US west coast fell sharply in last year’s fourth quarter reflecting weak consumer demand and concerns over the lack of a new dock labour agreement.
US domestic and transpacific carrier Matson saw its China service volumes collapse by 47%, year on year, in Q4, from 106,000 to 56,000 teu.
The decline followed the Honolulu-based company’s decision to terminate its China-California Express (CCX) premium loop in ...

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Another week of tumbling spot rates – here come the ‘carrot danglers’

Mike Wackett — Fri, 23 Sep 2022 13:15:12 +0000

Container spot rate indices have recorded another week of double-digit declines for Asia-Europe and transpacific headhaul container rates.
And the market is expecting further contractions in the coming weeks, before a bounce-back later in the year.
Drewry’s WCI Asia-North Europe component fell 10%, to $6,027 per 40ft, while its reading for Mediterranean ports slumped 13%, to $6,419 per 40ft.
These two components have fallen 58% and 53%, respectively, in the past 12 months ...

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U-turn as Matson suspends premium transpac service amid falling demand

Mike Wackett — Wed, 21 Sep 2022 12:26:42 +0000

Honolulu-based US domestic and transpacific premium carrier Matson has closed its seasonal China-California Express (CCX) loop ahead of the peak season, after spot rates on the tradelane collapsed.
Just last month, at the company’s Q2 earnings call, Matson CEO Matt Cox was bullish about support for the service, which it launched in the third quarter of 2021, saying demand “remained solid”.
He said the carrier expected to operate the CCX service “through ...

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OceanX radar: Ker-ching! for Yildirim; Saadé vs France; party time at Matson

Gavin van Marle — Mon, 25 Jul 2022 11:42:27 +0000

Straight to the podium today:
1) Gold Medal: goes to Robert Yildirim for his smart investment in CMA CGM back in the post-financial crisis dark days of box shipping…. Last week’s interview with the JOC – in which he estimates the value of his shares in CMA CGM (24%) as worth $22bn – shows it to be one of the best investments ever: he paid $500m for 20% in 2010.
2) Silver ...

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