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the the updating half for first outlook we're result, performance, our XXXX. for a As full year
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annual approximately investments compared million XXXX. benefits of $XX $XX million in compared financial of financial rate XXXX the appropriately result to the and in expect thereafter, in infrastructure total to realize year we and benefits and financial from In vessels financial expect majority recent we full would to run see new to For of total benefit projects, benefits the vessel other from produce to XXXX, which XXXX. the the those
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the are both performing to lastly, expectations. Aloha-class vessels our And
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to receive scrubber back service with six scrubber. fully the vessels of a first The a is operational in
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last second The mentioned call. earnings we development our on briefly
discuss in Seattle up in operations later terminal picked venture additional quarter. this presentation. Seattle in joint SSAT Our an I'll during the SSAT
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Now, on Slide X. so to to our train please lane services, turn
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activity, As replenishment, and by our volume container growth. you and may recall, is consumption primarily driven population westbound construction
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we Anecdotally, quarter consumption this our the adjust second slowing saw as retail to economy flattens. customers aggregate in
on estate. the Oahu and high the neighbor is relatively a cycles This in now in has consumption previous persist with the trends This of to stable the remained We started replenishment condo to short-term. unlike Construction activity bust" on meaningful development cycle real construction state activity. islands. in expect cycle in and and plateau little "boom at the
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anticipate that core market for in trajectory financial for Hawaii of in XXXX of been primary million container his EBITDA our Joel some volume and presents market the the summary, is forward will as not westbound in economy in the downward headwinds was is going the expected, for comment but driver quarter the report. approximately rest slowing This earlier, $XX several flat to we've In of around view and revision annual quarters mentioned year the I flat. we last what section second experiencing and and the growth, the volume the
on volume quarter was service China X, year-over-year. X.X% Matson's the our second XXXX higher to on Moving Slide in
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Matson, to year the highly respect we another within Matson's strong landscape. for differentiated With volatile service expect
achieved expect as to normalizes the strong to traditional volume the of half in activity. year second the volume CLX We in of lower be level XXXX the levels more than
to due were strong and fourth with the As we the trade associated noted pull-forward the volume before, U.S.-China XXXX of of quarters exceptionally situation. third
average in levels the we half XXXX. freight the was U.S.-China year year trade for as freight difficult average rates remain comparison optimistic are due cautiously the to year, favorable of that healthy the last exceptionally we rates, the achieved a the approach up will in for second But against As situation.
to outcome Hila of XXXX situation. Kaimana neutral CLX outlook important the updated the CLX that predicated trade note adding Our fleet. U.S.-China this into outlook the It's the on is includes effect to a
to Turning in Slide container flat. Guam year-over-year, X, also essentially was second the the flat quarter was volume and overall container market
as full the volume year the levels environment XXXX For approximate expect outlook, the remains. competitive highly to we XXXX
to to container business. remains retain Our every strategy fight customers' of single our
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higher level economic the with seafood For Alaska to by be than we volume and than XXXX. higher volume XXXX, southbound due achieved seafood-related in in volume higher improving in harvest XXXX, expect stronger a to level conditions northbound moderately supported
the of cautiously optimistic that industries our the There positive increased Economic recovery trajectory of as AEDC, outlook. the greatly activity fragility not influenced participated on from a be supported Turning policy the affected Corporation, that economy most Anchorage We in recovery considerations. or of were other customers, in to situation. on appreciate about as X-year recovery by recovery, Development state developments activity the but number recently Certain by are to result of Alaska's increased the decisions oil address result are the budget areas ultimate released economic Slide a the economic state fully the the there have taking we the fiscal XX, recession see of rebound, but remain as North a by shape will the are we its Slope. budget. But
the higher second primarily the Turning or our SSAT, venture, expense next the quarter year in XX, to new Slide additional $XXX,XXX terminal related and $X.X prior of terminal lower than standard accounting XXXX, attributable The the to adoption of lease contributed operating to decrease period. early million was costs.
lift prior For SSAT saw compared the quarter, volume slightly the higher to year.
second to lift largely the to lift to achieved SSAT's higher operating in we in lower be costs, level higher terminal XXXX half terminal a transportation of With to our approximately from second XXXX. partially and expected to XXXX, previous and income Seattle. the the expansion volume, in benefit million to $X.X lease our the expect benefit operating half respect outlook, SSATs than to the new related be with year offset ocean For costs customer contribution we a in in due by be result expect reverse volume
positioned. second as the the and SSAT of specific half plan the the the Please wanted despite in expect performance be our the the terminals. early summary, additional that to challenges higher changes to and In of expense to Seattle recent of Port related briefly the the some to year we map of adoption year well shows as operating turn to on half strong this closer The recent I discuss of at terminals much accounting terminal of the last remain Slide, costs with second have occurred. Seattle the each slide standard, next its in terminal key
Terminal is quarter in few Matson's operations of a part second or organize the X, to multi stage move to terminals. T-X, at plan a
step other locations. to movement ocean the move Matson T-X facilitate to The first to carriers of new to was for
at Some users T-XX. and T-XX of to moved T-XX were to the moved of were users T-XX
some particularly of opportunities operating is ocean As at terminals vessels. of accommodate renovated is for three largest being July to SSAT in X, the which T-X, at growth, Seattle,
As a interest terminal terminal Tacoma. reorganizations, the in result Seattle in of container and in SSAT of has now all one the
We reorganization look forward presents. this to the opportunities
a XXXX came was than quarter Turning increase an the similar Alaska economic the The improving on of million, Alaska. performed to forwarding second to increase now stronger But XX, or Slide year, $XX.X conditions in to in last and income from posted higher result quarter, freight logistics the operating first $X.X well million of contributions lines of due in transportation all service primarily brokerage. as Span contributions. year-over-year expected. over of
over income in interest improved Although in and which operating skip on I'll logistics' time, the the presentation. moment. quite for logistics outlook, its will I'll significantly to later year income reasons which the declined operating over margin quarterly X.X% revenue touch of increased year, on Joel a provide In
previous provide to we've that update on However, a of calls. couple projects I did want status a organic mentioned on
along specifications First, the be Alaska nicely, market The in forwarding in the leading facility to state-of-the-art forward and in to new freight will opening our Span is we and coming the its Anchorage look Alaska. our continue to fall. in and support will new facility position built
into customers. forward XX-foot look Second, to affords boxes this opportunities will be the quarter, service intermodal XXX our with placed us program and we for this new
all-time our logistics driving this. XX of XXXX, lines has in recently, of spend logistics declining I and face income increased the Most forwarding. by XXXX, gains second margin a to freight acquisition Turning now the our margin income of delivering of since and contributions, quite highs. to income In quarter in Span all operating due XX, moment to logistics have in transportation the wanted for solid quarter Slide primarily of been revenue third operating and declined Alaska lower revenue in the offset has last months, In operating partially the revenue, significantly. increased brokerage, on of business to
pricing lines was relatively income. than we business volume, impact did also Alaska but logistics, so Within the our of the And freight translate intermodal into lower the to operating transportation us. brokerage, to other our for higher in it not contributor lower a this business saw margins effect higher margins has business truck highway forwarding
of with rest to margins year, persist, similar transportation revenue For we to remain the brokerage favorable. expect but conditions challenged the
performance I And will with call a review financial that, and of partner, turn my outlook. for Joel, the over Joel? to our
