Matson's Alaska container volume fell 4.8% in the third quarter as less seafood headed south

Matson moved 4.8% fewer containers on its Alaska service in the third quarter than a year earlier, the shipping company said in results released Nov. 4. The carrier tied the drop to less seafood moving south and to an extra northbound sailing in the same quarter last year.

Matson is one of the main ocean carriers supplying Alaska, so its volume is one published measure of how much freight moves into and out of the state. The company did not attribute the decline to weak demand generally.

The Alaska service carried about 22,000 forty-foot-equivalent units (FEUs) from July through September, compared with 23,100 in the same quarter of 2025, according to Matson's quarterly report filed Nov. 5 with the Securities and Exchange Commission. An FEU is capacity equivalent to one 40-foot container.

The figures combine northbound and southbound traffic. Matson's results do not separate the two.

The third-quarter drop follows a smaller one in the spring. Matson's second-quarter filing reported Alaska volume down 2.3% year over year, which the company attributed mainly to lower export seafood volume, partly offset by an additional northbound sailing.

Through the first nine months of the year, Matson moved 62,500 FEUs on the Alaska service, against 64,500 a year earlier, a drop of 3.1%. The company expects full-year Alaska volume to come in modestly lower than last year.

Matson said it expects Alaska's economy to remain stable in the near term, citing a low unemployment rate, a steady job market and continued oil and gas exploration and production.

The Alaska results stand apart from the rest of the company's quarter. Companywide, Matson reported net income of $209.4 million, up from $134.7 million a year earlier, and raised its full-year outlook. The company credited strong demand and high freight rates on its China service, where volume rose 16%. Hawaii volume fell 0.3% and Guam volume rose 4.3%.

Matson reports Alaska volume by service, but its filings do not break out Alaska revenue or profit. The company also reported an increase in fuel-related surcharge revenue across its ocean business, without giving a figure for Alaska.