Matson provided earning alert for 1Q 2023 after US market close yesterday (19
Apr). Net profit at $29.3m to $33.8m, suggesting 60% QoQ and 91% YoY drop, which
should be expected by the capital market. The QoQ growth in volume particularly
for the China route was a surprise given the China service capacity during 4Q
2022 was much larger than 1Q 2023. Matson is earning premium freight rates
relative to the going spot rates and it has exposure to the relatively more
stable cabotage businesses, whic