Shipping prices rise again, Matson's Q3 revenue will exceed 350 million!

Before the National Day, the price of Matson fell, giving shippers a brief respite. However, after the holiday, news came that the price of Matson might rise again. Some sellers said that the price of Matson has risen slightly in the past two days, and it may rise more in two days, reminding their peers to ship as soon as possible, but some sellers said it is obviously too late to ship now.

On October 11, Matson released its preliminary results (estimated data) for the third quarter of 2021. The report showed that trading volume in the third quarter of 21 was much higher than the same quarter of 2020 .

From the report :

The ocean carrier expects third-quarter revenue to be between $358 million and $363 million ;

The logistics company's third-quarter revenue is between $ 15 million and $ 16 million ;

Net income and diluted earnings per share for the third quarter are $277.3 to $285.5 million and $639 to $658, respectively ;

Sales in China increased by 21.7%, mainly driven by CCX sales and additional loader sales ;

The total number of eastbound flights on China routes increased by 6 flights year-on-year .

Among them, Hawaiian transactions performed strongly , mainly due to the rebound of tourism and economy at the low point of the epidemic . Alaska transportation volume increased by 10.7%, due to the increase in Alaska -Asia express transportation volume , the increase in northbound transportation volume was mainly due to additional sailings and higher retail-related demand, and the increase in southbound transportation volume ;

In the report, Matson said the year-on-year growth in consolidated operating income was mainly driven by the strength of its services in China.

Matt Cox, chairman of the company , said that due to strong economic and business development, the shipping and logistics sectors performed strongly , and Matson continued its development momentum in the third quarter from the second quarter. In terms of shipping, the high sales of e-commerce, clothing and other goods during the peak season accelerated the demand for shipping, and Chinese service providers provided an important driving force. As stated in the report, the continued strong demand for Chinese services was the main driver of the year-on-year growth in comprehensive operating income .

In addition, Matt Cox also said that supply chain congestion on the trans-Pacific trade route continues due to inventory replenishment, peak season and continued upward consumer trends. These conditions are expected to continue at least until mid-2022 .

It is reported that Matson will announce specific earnings results during a conference call on November 3 .

Mason

Q3