Matson Inc., the state’s largest ocean transportation company, said earnings more than doubled in the second quarter largely due to strong Hawaii shipments.

"Hawaii continues to see high levels of visitor arrivals, which in turn drives lower unemployment," Matson President and CEO Matt Cox said Wednesday on an earnings conference call. A stronger economy leads to more spending and more goods being shipped from the mainland.

Matson anticipates the growth will continue.

"A key volume catalyst for us is construction activity. We look at the forecast uptick in permitting and hiring as positive signs moving forward," Cox said.

Matson said its net income rose to $20.1 million, or 43 cents a share, just missing analysts’ consensus forecast of 44 cents a share. A year ago, Matson earned $7.8 million, or 18 cents a share, when it incurred $5.8 million in separation costs due to its split from Alexander & Baldwin Inc. The end of the second quarter marked one full year as an independent company. Revenue rose 5.7 percent to $416.6 million from $394.2 million.

Matson’s stock closed down 45 cents, or 1.6 percent, at $27.50 on the New York Stock Exchange. The earnings were released after the market closed Wednesday.

Hawaii’s improving economy resulted in Matson’s automobile shipments between the mainland and the state jumping 11 percent to 23,200 from 20,900 in the year-earlier quarter while Hawaii container shipments rose 5.3 percent to 35,700 from 33,900.

"These volume gains were similar to the gains we had during the first quarter of the year, and while we are encouraged by the increase in activity in the first half, we still think it’s too early to say that the Hawaii recovery is complete," Cox said.

"Looking to the balance of the year, we continue to expect moderate volume gains for the Hawaii trade in line with general improvement in the Hawaii economy."

Cox said the company also achieved modest volume gains from other cargo trade.

Container volume from China, Matson’s largest market outside of Hawaii, rose 1.3 percent to 15,400 from 15,200. Guam container shipments increased 5.2 percent to 6,100 from 5,800 and Micronesia/South Pacific container shipments jumped 84.6 percent to 2,400 from 1,300.

Matson also received a boost from its logistics division, which deals with container movement on land. Overall logistics revenue rose 12.6 percent to $106.6 million from $94.7 million a year ago.

The company said it will continue to benefit from operating nine ships for the rest of the year —one fewer than a year ago — and lower outside transportation costs that are both the result of a lighter dry-dock schedule than in 2012.