Matson stays healthy as coronavirus weakens competitors’ volumes — Panjiva
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Matson stays healthy as coronavirus weakens competitors’ volumes

China 3048 Coronavirus 511 Corp - Shipping 1026 Earnings 759 Mode - Containerized 1524 Mode - Seaborne 1845 U.S. 5399

Container-line Matson has withdrawn its earnings guidance for 2020 due to “economic uncertainties regarding the COVID-19 pandemic” but has also flagged that its Q1 earnings were better than expected. Matson’s been unusual in seeing a surge in China-to-U.S. traffic in March. Panjiva’s data shows U.S. seaborne imports handled by Matson climbed 41.0% in March including a 74.4% jump in shipments from Shanghai. By contrast total U.S. seaborne imports from Chinese ports fell by 34.3% year over year in March on the basis of preliminary data. Shipments handled by Maersk and MSC fell by 55.1% and...

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