Horizon Lines to discontinue Trans-Pacific FSX service
Horizon Lines, Inc. announced it will discontinue its Five Star Express (FSX) trans-Pacific container shipping service between the US West Coast, Guam and China.
According to Stephen H. Fraser, President and Chief Executive Officer, "Our decision to exit this highly volatile market will allow Horizon to focus on our core domestic ocean shipping services, and provide the opportunity to produce a more profitable and stable financial performance over time."
The last voyage of the FSX service from China is scheduled to depart Shanghai on November 2, 2011. Horizon Lines also will suspend ocean services to Guam and surrounding islands effective with the last sailing from the US West Coast on November 10, 2011.
Following their last voyages, the five Hunter-Class D-8 vessels operating in the FSX service are currently planned to be laid up, after dry-docking of the remaining four vessels. The vessels are leased from Ship Finance International Limited through 2018 to 2019. Horizon Lines is exploring sub-chartering the vessels and other solutions to partially mitigate ongoing charter expense and maintenance costs.
"Given current market conditions and foreseeable future expectations, discontinuing the FSX service is the appropriate decision for the company," said Taylor. "It will allow us to focus all of our resources on serving customers in the very solid domestic ocean markets in Alaska, Hawaii and Puerto Rico."
Quelle: eyefortransport
Portal: www.logistik-express.com