Matson reported lower first-quarter earnings as China's factory workers stayed at home amid the coronavirus lockdown instead of making goods for import into the US.

The Matt Cox-led owner of boxships posted a $3.8m profit for the three-month period on $514m in revenue versus a $12.5m profit on $532m in revenue in the first quarter of 2019.

"In China, the company's container volume in the first quarter 2020 was 6.5%