Matson gets it right
February 11, 2013
Among the highlights contained in PwC report “Intersections: Fourth Quarter 2012 global transportation and logistics industry mergers and acquisitions analysis,” is the fact that Matson shareholders timed the market right.
As noted in today’s news, one of the past year’s M&A highlights was the $1.17 billion acquisition of Matson Navigation Co. Inc. by shareholders in December.
Further evidence of this triumph was issued last week by Matson, Inc. – a leading U.S. carrier in the transpacific – which reported net income of $15.6 million.
Significantly, the company reported that in China trade, freight rates in the fourth quarter of 2012 continued to be higher than year earlier periods, reflecting an improved general rate environment.
In addition to the trade lane outlook, Matson expects to benefit from operating a nine-ship fleet for most of 2013 and lower outside transportation costs, both of which result from a lighter dry-dock schedule.
Overall, said Mason, operating income in the ocean transportation segment is therefore expected to improve modestly from 2012 levels.
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