News / U-turn as Matson suspends premium transpac service amid falling demand

Credit VesselFinder.

Honolulu-based US domestic and transpacific premium carrier Matson has closed its seasonal China-California Express (CCX) loop ahead of the peak season, after spot rates on the tradelane collapsed.

Just last month, at the company’s Q2 earnings call, Matson CEO Matt Cox was bullish about support for the service, which it launched in the third quarter of 2021, saying demand “remained solid”.

He said the carrier expected to operate the CCX service “through the October peak season” and was optimistic that demand would ...