Honolulu-based ocean shipper Matson Inc. on Thursday reported a net income of $15.6 million, or 36 cents per diluted share, for the fourth quarter of 2012, compared to net income of $1.6 million, or 4 cents per diluted share, during the same quarter in 2011.
Matson, however, reported that Hawaii container and auto volume was negatively affected in 2012 because of construction activity, competitive rates, a market contraction due to foreign sourcing of cargo and the timing of automobile rental fleets being replaced. But the company indicated that it believes the state’s economy is rebounding with an uptick in construction and consumer spending in the fourth quarter.