The New York-listed containershipoperator reported net income of $3.4m for the three months to 31 March, versusa profit of $9.1m in the comparable period a year ago.
In the Honolulu-based carrier’s earningsreport it noted ocean transportation operating income fell 49.2% to$9.1m year-on-year.
Matson blamed the decline on the timingof fuel surcharge collections, a 2.9% decrease in Hawaii container volume andlower China freight rates.
“In
