Being the first liner to report 3Q earnings, Matson's 3Q earnings (out on 23
Oct) showed sequential improvement from the 2Q results: container shipping
earnings were up 37-43% QoQ on 4% higher container volume, suggesting over 30%
QoQ increase in earnings coming from rise in average freight rates. Most of
Matson's operation are done on short term contracts or spot freight rates.
Matson maintains two services in its China-USWC trade since 4Q of 2022. It has
blanked 3 sailings in 1Q 2023 and 2 s