Matson faces triple-whammy of COVID-19 disruptions, others in the same boat — Panjiva
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Matson faces triple-whammy of COVID-19 disruptions, others in the same boat

China 2393 Coronavirus 256 Corp - Shipping 743 Earnings 414 Mode - Containerized 1179 Mode - Seaborne 1501 U.S. 4229

Container-line Matson reported a 4.3% year over year slide in revenues in Q4, partly due to comparisons to a pre-tariff rush on its CLX China-U.S. service in the same period a year earlier. The firm has flagged a $15 million drag to earnings – compared to $108 million of EBIT in 2019 – resulting from the disruptions caused by COVID-19. Those disruptions include reduced volumes and rates on the CLX service as well as reduced volumes through its ports joint venture with SSA Marine and disruptions to Maton’s logistics operations in China. The firm’s CEO, Matthew Cox, has stated that competi...

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