The company said the third quarter included $21.3 million in fuel surcharge revenue versus $10.5 million in the third quarter of 2002. Excluding this fuel surcharge revenue, the increase in revenues would have been 14.5 per cent.

Net earnings were $24.6 million, compared to $16.3 million for the third quarter of 2002. The quarter’s results included a $1.8 million noncash pre-tax benefit for the reduction in market value of the interest rate derivative agreements of M S Carriers.

For the nine months ended September 30, the company’s revenues increased 14.2 per cent to $1.76 billion from $1.541 billion in 2002.

Net earnings were $52.6 million, compared to $43.4 million in 2002.

Jerry Moyes, chairman and chief executive officer, said: “Our net earnings grew by more than 50 per cent driven by 15 per cent top line growth, 4 cents of price improvement and 31 basis points of deadhead improvement which more than offset a 1.4 per cent operating revenue increase in insurance cost as we continue to operate in a difficult insurance environment.

“In addition, our integration of Merit Distribution Services Inc. was efficiently completed in the current quarter. We will continue to focus on increasing our profitability by allocating equipment to those customers which enable us to maximise our return on investment, as well as continuing to examine areas for improvement in our cost structure.”

The company’s services include intermodal rail service, long haul and regional highway services, international intermodal service and specialised hauling.

New air freight services will also be introduced in the coming months, Matson said.

“Our new name, Matson Integrated Logistics, reflects the company’s goal of providing an array of multimodal transportation services,” said Robert Papworth, president, Matson Integrated Logistics.

“This is the platform for our strategy of creating a greater breadth and depth of logistics services for our customers, and more aptly describes the company going forward.

“Backed by Matson Navigation Company’s long legacy of serving the shipping community, and the team of talented and dedicated people we have assembled at MIL, we are excited about our new direction.”

In 2002, the company experienced a 60 per cent increase in revenue and substantive growth in volume. This year, it was ranked the number one intermodal marketing company (IMC) in Logistics Management magazine’s Quest for Quality award.

“Providing top quality intermodal transportation is and will remain a core service offering for Matson Integrated Logistics,” said Mr Papworth. “We will now also focus on expanding our menu with services that will bring value for our customers today and in the future.”

The reorganisation would enable Qantas to better meet the aviation industry’s challenges, he added.

Mr Dixon said the breakdown of the new units was: four flying businesses – Qantas Airlines (the main international and domestic operations), QantasLink (the regional airline operations), Australian Airlines (the international leisure carrier) and a domestic low cost carrier; two flying services businesses – engineering technical operations and maintenance services being one with the other covering airports and catering, while the final four associated businesses would look after freight, Qantas Holidays,- Qantas Defence Services and Qantas Consulting.

The businesses will be supported by a Corporate Centre that will focus on corporate governance, investment decisions, performance standards and group strategies.

A shared services organisation, Qantas Business Services, will be established to provide support services to businesses within the company.

“The reorganisation will deliver a range of major benefits, including increased accountability, greater speed and quality of decision making and improved return on assets,” Mr Dixon said.

“An increase in autonomy for each business will be coupled with a strong focus on performance targets to ensure each business delivers its current commitments to optimise the success of the Qantas Group.

“The new structure will also increase the growth opportunities of non-core businesses such as Freight and Qantas Holidays.”

Each business will have its own profit and loss statement and balance sheet and be fully accountable for its performance and contribution to the Qantas Group.

Mr Dixon said the structural change would be complemented by an operating style that focussed on accountability, collaboration and leadership.

Pamela Rollins, Amerijet’s vice president of Business Development, said Antillas Air will continue to operate its existing routes with no visible changes at this time.

“This transaction provides Amerijet customers with greater penetration into Central America, while Antillas customers gain access to Amerijet’s worldwide transportation network including its multi-modal capabilities,” said Ms Rollins.

Antillas founder/owner Constantino Gorospe has been named managing director of Amerijet International’s new division, Amerijet Central America, covering operations in Guatemala, Honduras, Salvador and Nicaragua, and will be instrumental in further expansion within the region.

Antillas Air was established in 1983 and has operated all-cargo aircraft under long-term wet lease agreements.

Headquartered at New York’s JFK International Airport, Antillas has grown to operate 20 flights weekly from JFK and MIA International airports into Guatemala, San Salvador, San Pedro, Honduras and Santo Domingo.

Richard Anderson, chief executive officer, said: “While it is encouraging to report a profit, the third quarter is traditionally strong for the industry due to greater demand in the summer months and in particular for Northwest because of its significant Pacific operation, which has an even greater summer demand peak.

“These results do not signal an end to our challenges or diminish the need to address our cost structure in light of the changes in the revenue environment.”

Operating revenues in the third quarter decreased 0.3 per cent versus the third quarter of 2002 to $2.56 billion, driven by a decrease in passenger revenue of 1.1 per cent, partially offset by an 8.9 per cent improvement in cargo revenue.

Passenger revenue per available seat mile improved 5.3 per cent on 7.1 per cent fewer available seat miles (ASMs).

The terms of the transaction are the same as those announced on September 30.

Total throughput for the port during the same period was 122 million tons, an increase of 24.13 per cent year-over-year.

The booming economy in the central and western parts of China helped the port to secure a steady supply of cargo.

Earlier this year the port also signed service agreements with major companies in Shanxi, Hebei and Nei Mongol.

In addition, Tianjin port has linked up with Maersk and the Grand Alliance to start services from Tianjin to Europe, the Mediterranean and Red Sea. All have helped to increase the supply of cargo to and from the port.

The company has almost doubled its capacity in the last two years.

Dominique Lovichi, CMA-CGM’s vice president Asia, based in Hong Kong, told the Hong Kong Shipping Gazette: “I believe that within the last two years we have easily doubled our capacity, from around 130-140,000 TEU to 260,000 TEU today.

“This has been corresponding to our entrance into the trans-Pacific trade, which has large tonnage and to the new fleet policy for Europe when we got into the purchasing of 6,500 TEU [vessels] to deploy on the Asia-Europe service.”

The figures tell their own story, especially when set against the company’s history.

Mr Lovichi said: “Originally, with the history of the CMA-CGM group in Asia, Europe was traditionally the main trade and the oldest trade operated by the company.

“It started in around 1992 and the US trade came much later, I mean in 1999. Definitely the history and triumph of the trade was more westbound orientated. When we say Europe you must not forget that ships are going through the Mediterranean, which is a very traditional market for CMA-CGM, which was the place where the company was born.

“When we say westbound Europe, it is very important to consider that it consists of the Mediterranean trade, which today I believe on the consolidated figures east and west Mediterranean we are certainly No.1 in the Asia-Mediterranean trade.”

And, with this impressive growth, CMA-CGM is making the transition from being an emerging carrier to a well-established carrier in a relatively short period of time.

But this has not just been built on liner business alone, as Mr Lovichi explained.

“Most of the carriers in the top league have been compelled to diversify their activities in a lot of, let’s say, businesses which are linked to shipping.

“Logistics is one, intermodal is another and a third is ports and terminals.

“We have a company looking at investment and the possibility of having dedicated berths. This is for two main reasons. One is of course the financial investment and returns, and the second is global strategy, where some ports are of strategic interest for the group.”

The company said Mr Marx will oversee all of Panalpina’s operations within the Asia-Pacific region and will lead the company’s operations team in enhancing customer service.

Mr Marx has over 25 years of experience in the forwarding industry and 20 of those have been spent in Asia.

Senior positions he has held prior to his new position include being director of Panalpina Japan, MD of Panalpina Singapore. Mr Marx was also managing director of Danzas Malaysia.

Lars-Ola Gunnarsson, regional CEO of Panalpina APAC, said: “Heinz brings with him an extraordinary industry experience and extensive knowledge of the region. His appointment is in line with our strategy of further enhancing our goal of operational excellency and maintaining our leading position as a world class forwarder in the market.”