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19 January 2019 The on-line newspaper devoted to the world of transports 17:33 GMT+1

October 26, 2011

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Original news
Horizon Lines cancels its only transpacifico service USA-China

Suspended also the connections with Guam and the surrounding islands

The company of American navigation Horizon Lines has decided to cancel own service Five weekly magazine Star Express (FSX), that it is the only transpacifica line of the company to connect the western coast of the USA with China via Guam. The service, that it carries out ports of call to Los Angeles City, Oakland, Guam, Ningbo and Shanghai, was inaugurated last December to conclusion of the agreement with Maersk Line for the acquisition of cargo spaces on the ships of the Danish company.

"This - it has declared the president and managing director of Horizon Lines, Stephen H. Fraser - has been a very difficult decision to light of the enormous contribution supplied from our associates, our organizations of the job and from the partner commercial in order to make of service FSX a success. Our decision to exit from this extremely volatil market will allow to Horizon to concentrate itself on our main services of national oceanic marine transport and it will give the opportunity to produce to performance more profitable and stable financial institutions to us in the time".

The American company has explained that, although the service has reached the fixed objectives in terms of volumes of cargo and employment of the ships, in last the 12 months the Shanghai Container Freight Index has recorded a collapse of beyond 37% of the hires eastbound come down by 2.400 to approximately 1.500 dollars for the container from 40 ' of this month, level that is more the low from the start of the world-wide recession in 2008-2009. Meanwhile the average price of the bunker has grown more of 40% regarding the moment of the start of the service.

The last departure eastbound of service FSX is in program next 2 November from the port of Shanghai. Horizon Lines has announced moreover that, in coincidence with the last departure westbound of next 10 November, it will suspend also the connections with Guam and the surrounding islands.

The five ships employed on transpacifica route FSX, that they are taken to chartering from the Ship Finance International until 2018-2019, will be placed in disarmament. Horizon Lines has announced that it is estimating the possibility to sublocare the ships or to find other solutions in order to partially reduce the burdens of their chartering and the other costs. The five portacontainer of American flag, all constructed in 2007 and of the unitary ability to 2.824 teu, are the ships Horizon Eagle, Horizon Falcon, Horizon Hawk, Horizon Hunter and Horizon Tiger.

The company previews that the closing of service FSX will involve burdens for 105-110 million dollars. Horizon Lines has specified that in the first nine months of this year the service has had an impact negative on the EBITDA of the society pairs to approximately 43,7 million dollars.

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