• 2018 November 8 18:04

    Matson announces Q3 2018 results

    Matson, Inc., a leading U.S. carrier in the Pacific, has reported net income of $41.6 million, or $0.97 per diluted share, for the quarter ended September 30, 2018. Net income for the quarter ended September 30, 2017 was $34.1 million, or $0.79 per diluted share. Consolidated revenue for the third quarter 2018 was $589.4 million compared with $543.9 million reported for the third quarter 2017.

    For the nine months ended September 30, 2018, Matson reported net income of $88.4 million, or $2.06 per diluted share compared with $65.1 million, or $1.50 per diluted share in 2017. Consolidated revenue for the nine month period ended September 30, 2018 was $1,657.9 million, compared with $1,530.8 million in 2017.

    The Company's container volume in the Hawaii service in the third quarter 2018 was 1.1 percent lower year-over-year primarily due to one less sailing. The Hawaii economy continues to be strong, supported primarily by healthy tourism activity and low unemployment. The Company expects volume in 2018 to approximate the level achieved in 2017, reflecting a solid Hawaii economy and stable market share.

    In China, the Company's container volume in the third quarter 2018 was 3.3 percent lower year-over-year largely due to a dry-dock return sailing in the year ago period. Matson continued to realize a sizeable rate premium in the third quarter 2018 and achieved average freight rates higher than the third quarter 2017. For 2018, the Company expects freight rates to be higher than the average rate achieved in 2017 and volume to be modestly lower than the level achieved in 2017.

    In Guam, the Company's container volume in the third quarter 2018 was flat on a year-over-year and sequential basis. For 2018, the Company continues to expect a heightened competitive environment and lower volume than the levels achieved in 2017.

    In Alaska, the Company's container volume for the third quarter 2018 was 2.0 percent lower year-over-year, primarily due to lower southbound volume as a result of a weaker-than-expected seafood season compared with the very strong seafood harvest levels in 2017, partially offset by an increase in northbound volume. For 2018, the Company expects volume to be modestly higher than the level achieved in 2017 with improvement in northbound volume largely due to the dry-docking of a competitor's vessel, partially offset by lower southbound volume primarily due to a weaker-than-expected seafood season compared with the very strong seafood harvest levels in 2017.

    As a result of the performance in the first nine months and the outlook trends noted above, the Company expects full year 2018 Ocean Transportation operating income to be modestly higher than the $126.4 million† achieved in 2017.              




2020 May 31

16:57 RINA: shareholders’ meeting approves the financial statement for 31 December 2019 and appoints a new Board of Directors
15:31 Board appoints non-executive director at V.Group
14:48 MM&P seeks help from Congress in battle to repatriate offshore crews
13:24 Svitzer A/S names new CEO
12:31 Subsea 7 announces cost reduction measures
10:52 Drydocks World begins second project for the Hollandse Kust Zuid Windfarm

2020 May 30

16:23 APL England master faces charges over shipping container loss
15:27 Xeneta Container Rates alert: continued global uncertainty hits rates, but worst fears yet to be realised
14:32 EC approves €600 million Finnish guarantee scheme to support maritime companies affected by the coronavirus outbreak
13:12 Bollinger Quick Repair takes delivery of new dry-dock “Mr. Eddie”
11:47 Sanmar and Svitzer deliver power and performance to Port of Sohar
10:58 Coast Guard Cutter James seizes 3,350 lbs of marijuana off Central American

2020 May 29

18:36 Port of Marseille Fos to constuct a new international ferry terminal
18:20 Sea Port of Saint-Petersburg boosts its infrastructure investments by 40%
18:06 PIL starts a new India Service - China India Express (CIX)
17:51 Petrotrans takes delivery of lead ship of Project RSD59
17:36 Rolls-Royce seals major contract covering complete MTU propulsion systems for Royal Navy Type 31 frigates
17:14 United Shipbuilding Corporation developed its own cargo ship design
17:06 ECSA welcomes TRAN opinion on future EU-UK partnership and urges rapid advancement of the talks in view of the looming deadline
16:15 Port Authorities pledging support to keep ports open during COVID-19 more than doubles within a month
15:52 Market of seaborne cargo transportation for wind farms is stable and expected to grow
15:46 Viking Line starts a passenger service from June 1
15:05 KiwiRail orders two new ferries
14:49 Admiral Makarov University introduced new GMDSS simulator class
14:05 Bollinger Shipyards delivers the USCGC MYRTLE HAZARD to the U.S. Coast Guard
13:41 Smart Delta Resources launches project to substantially reduce CO2 emissions in Scheldt-Delta region
13:09 Record engine powers world’s largest containership
12:48 Large amphibious ships of RF Navy's Black Sea Fleet conducted comprehensive exercise in sea training ground
12:30 Navigation season opens on Upper Lena and Lower Lena rivers
12:09 Global shipping body addresses the health concerns of seafarers during the COVID-19 pandemic
11:26 Vimpel Shipyard launches coast guard boat Lamantin of river-going design
11:03 LNG STS bunkering – ‚First-off‘ operations in France, Germany and Norway
10:28 Oil prices fall by over $1
10:09 DP World joins with TradeLens to digitize global supply chains
09:53 Bunker prices are stable at the port of Saint-Petersburg, Russia
09:35 Baltic Dry Index on May 28
09:20 Konecranes to deliver third mobile harbor crane to South Australia
09:17 MABUX: Bunker market this morning, May 29
08:46 CMA CGM announces FAK rates from Asia to North Africa, Mediterranean and North Europe

2020 May 28

18:37 CMA CGM ends ESS from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
18:07 PortXchange results in shorter idle times on departure at APM Terminals Rotterdam
17:24 Independent Container Line starts new service from Cork to USA
17:20 Antwerp@C investigates potential for halving CO2 emissions in Port of Antwerp by 2030
16:49 Nevsky Shipyard launches lead ferry of Project PV22, Admiral Gennady Nevelskoy
16:17 Finland's new Water Traffic Act enters into force in June
16:05 Lubrizol joins the Getting to Zero Coalition
15:56 Wärtsilä high-efficiency propulsion solutions selected for special high-speed ferry
15:46 ABP keeps Britain trading in the safest way possible
15:02 Bunker prices show no considerable changes at the Far East ports of Russia (graph)
14:38 Bunkering tanker intended for Baikal lake delivered to the customer
14:00 WinGD wins type approval for biggest and most powerful ever dual-fuel engines
13:00 Gasum partners up with the sustainable transport solution provider company Samskip
12:30 More Konecranes BOXHUNTER RTGs to Vietnam
12:00 Konecranes and Fluidmesh join forces to deliver world-first 100% wireless Automated Rubber Tired Gantry crane system
11:30 EPS and Equinor set sights on a trio of newbuild LPG dual-fuel vessels
11:09 Boskalis awarded two dredging contracts in Finland
10:51 Oil prices continue going down
10:30 DNV GL releases first ever traceability standard for reclaimed plastic
10:09 Port of Stockholm announces arrival of the first container ship at Norvik Port
09:44 CMA CGM announces Overweight Surcharge (OWS) from Asia to North Europe