Matson, the largest US ocean container carrier, saw its shares rise more than nine per cent as improved prospects for China shipping outweighed weaker quarterly earnings, reports New York's FreightWaves.

The Honolulu company posted net income of US$134.7 million, or $4.24 per diluted share, for the quarter ended September 30, down from US$199.1 million, or $5.89 per share, a year earlier. Consolidated revenue fell to US$880.1 million from US$962 million in the third quarter of 2024.

Domestic volumes rose 0.3 per cent in Hawaii and 4.1 per cent in Alaska year-on-year, while Guam volumes declined 4.2 per cent. China business dropped 12.1 per cent due to tariffs and trade issues.

Operating income was US$147.4 million compared with US$226.9 million a year ago, as margins slipped from 28.4 per cent to 20.5 per cent. Logistics income also fell, reflecting weaker contributions from freight forwarding, brokerage and supply chain management.

Chairman and CEO Matt Cox said fourth-quarter customers in China were expected to remain cautious on inventory levels. However, he predicted a more stable trading environment following the October 30 trade and economic deal between the US and China, which reduced uncertainty over tariffs, port fees and global trade.

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