Matson's earnings have taken a huge leap as a result of transpacific boxship traffic that chief executive Matt Cox has never seen in his four decades in shipping.
As TradeWinds reported, the New York-listed owner of small containerships on Tuesday reported a $78.2m profit for the first three months of 2021, beating year-ago earnings by almost $75m.
"In my nearly 40 years in the business, I've not seen an environment like this with international trade lanes operating at capacity and widespread supply chain congestion leading to pressures at US ports, terminals, rail yards and warehouses," he said during a call with analysts on first-quarter results.
