Matson expects coronavirus to impact 2020 by $15m

Matson is bracing for at least a $15m hit to 2020 full-year earnings as a result of COVID-19 coronavirus.

The Matt Cox-led boxship owner expects the virus to have the worst impact on its China-Long Beach service, logistics division and SSA Terminals (SSAT) joint venture in Tacoma, Washington, with SSA Marine.

"As of today, we currently estimate the COVID-19 financial impact to Matson to be limited to the first half of the year with most of the financial impact in the first quarter, but the magnitude and timing could change as the situation evolves," chief executive Cox said in a statement.