Matson Navigation Co. Inc., the Oakland, Calif.-based maritime shipping subsidiary of Honolulu-based A&B posted 7 percent more third-quarter revenue but 7 percent lower operating profit. That still meant a profit above $34 million, however. The China service, launched early this year, carried more than 10,000 containers, triple Guam traffic and almost a quarter of Hawaii traffic. "The contributions from Matson's China service increased from the prior quarter, and the service is profitable," said Allen Doane, CEO of the parent company. Everything is measured against projections, however, and Doane said even this performance was lower than "planned levels" as favorable container volumes were more than offset by lower rates and higher fuel and intermodal rail costs.