New York-listed Matson has greatly improved its results for the fourth quarter and all of 2020 despite Covid-19 headwinds.

The Hawaii-based owner of 16 boxships under 3,500 teu and a car carrier on Tuesday posted an $85.6m profit for the quarter versus $15.6m in earnings for the same period last year.

Earnings per share (EPS) came in at $1.96, up from $0.36