Matson Predicts a Slowdown in Transpacific Trade Through Mid-2023

Confirming the downward trend in the container freight market, Jones Act ocean carrier Matson announced Wednesday that it is seeing lower volumes on its China services and expects revenue to drop accordingly. 

In the fourth quarter, Matson’s premium services from China to the U.S. West Coast saw lower year-over-year volume and brought in lower rates, and its executives expect these conditions to persist through the first half of 2023.