In another indication of the record figures expected for the second quarter, Matson Navigation reported a preliminary operating profit of USD 197-202 M for its ocean transport activities for Q2 2021, more than quadruple the result a year earlier and up from USD 114 M in the first quarter.
The carrier now expects the current booming transpacific conditions(high demand, severe congestion) to last until at least the 2022 Chinese New Year. Extraordinary demand has prompted the line to start a new seasonal CCX service string from China to the US West Coast using owned tonnage.
The company’s higher Q2 earnings were mainly due to increased traffic on its CLX and CLX+ China services with volumes there rising 59% year-on-year. The US-based carrier has added 9 eastbound voyages to its China service since the first quarter of 2020.