The New York-quoted owner of Jones Act boxships carded net income of $18.1m for the three months to 30 June, which is slightly lower than the $20.1m gain reported 12 months prior.
Consolidated revenue rose to $436.4m from $416.6m year-on-year thanks in part to improvements in one of the Honolulu-headquartered operator’s core markets.
“In the second quarter 2014, market growth returned to the Hawaii trade; however, the company experienced modest competitive losses in eastbound backhaul freight and Pacific Northwest originated commodity freight,” Matson explained in its second-quarter earnings report.
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