In the fourth quarter of 2021, Matson's cargo volume in the Chinese market increased by 32.7% year-on-year, mainly benefiting from the substantial increase in demand on the CCX route.
Matsun Marine recently announced its fourth quarter 2021 performance forecast.
During the reporting period, the company expects to achieve operating income of US$445 million to US$455 million, a year-on-year increase of approximately 312%, and logistics business revenue of US$14 million to US$15 million, a year-on-year increase of approximately 56%.
During the same period, the company achieved a net income of US$365 million to US$382 million, a year-on-year increase of approximately 346.%.
According to data, in the fourth quarter of 2021, Matson's cargo volume in the Chinese market increased by 32.7% year-on-year, mainly benefiting from the substantial increase in demand on the CCX Oakland route.
Matt Cox, Chairman and CEO of Matson Line, said: "In ocean shipping, as the volume of e-commerce, clothing and other commodities continues to rise, the demand for expedited ocean shipping services on our China routes has increased significantly. At the same time, the continued strong demand on China routes is the main driver of revenue growth. However, due to continued rising consumption and tight domestic supply chains in the United States, congestion remains the main problem on trans-Pacific routes."
Matt Cox further stated that the congestion will most likely continue until the peak transportation season in October this year, and it is expected that the transportation demand on Matsun's China route will continue to increase this year.
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