Matson: Strong Asian Demand and High Freight Rates - Stock at Record High
Reading Time: 3 minutes
Matson transports container freight and combines Jones Act-protected US Pacific services with especially fast premium services from China to Long Beach. Higher transpacific freight rates, nearly full China services, and the raised forecast provide tailwinds in the second half of the year. In the second quarter, revenue increased by 17% and EPS by 46%, with the China business primarily driving the earnings jump. Matson (MATX) operates as a US shipping and logistics company with a market capitalization of approximately $7.2 billion. Since...
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