Matson expects much lower first-quarter profit absent of pandemic-driven demand

Matson has forecasted significantly less profit for the first quarter now that demand that was fuelled by the pandemic has gone away.

The US owner and operator of Jones Act container ships expects bottom-line earnings for the first three months of 2023 to range from $29.3m to $33.8m. That is a far cry from the $339m in profit that it earned during the same period last year.