Matson benefits from Horizon's Guam exit

Oceania

Thursday, May 10, 2012

Matson Navigation Co. saw a near doubling of its business between the U.S. West Coast and Guam in the first quarter of 2012 when compared to 2011 because of the decision by Horizon Lines to withdraw from the market. The Oakland-based company moved 6,400 containers in the first quarter of 2012, compared to 3,300 in the same 2011 period. Alexander and Baldwin, the parent of Matson, reported on Wednesday a profit of $3.8 million in the first quarter ending March 31,...

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