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STAR-ADVERTISER / AUG. 3, 2012
The Matson, Inc. container ship Matsonia is seen moored at Pier 2 in Honolulu Harbor.
Matson Inc., Hawaii’s largest ocean cargo transportation company, earned a record profit last year despite fourth-quarter net income that was a bit lower than the same quarter a year earlier.
Honolulu-based Matson announced on Tuesday that it earned $103 million last year, up 46 percent from $70.8 million in 2014.
Matt Cox, the firm’s president and CEO, called 2015 an “exceptional” year for Matson. “Financially, it was the best year in our history,” he said in a statement.
Revenue for the year totaled $1.89 billion, up from $1.71 billion the year earlier.
In the fourth quarter, Matson’s profit was $26.6 million on revenue of $495 million. That compared with a $27.8 million profit on revenue of $444 million in the same quarter the year before.
Thanks to the Jones Act.
Greed motivates this monopoly. Run by unions. Oil has decreased immensely, however shipping costs continue to increase.
Because we’re an island we are dependent on goods from the mainland.
Matson, how bout giving back to the community for all the $103 million profits you made last year?
yobo, we are not dependent on the mainland–ships from China/Japan/ etc cross our paths all the time but by the restrictions of the Jones Act can’t offload their goods and proceed to the USA. They have to reload onto Matson or Young to get shipped back and we get the 31% tariff to pay for the Union labor and the Shippers. Thank our Democratic politicians!!!