Horizon Lines to Discontinue Trans-Pacific FSX Service

In Guam, the expected growth in cargo driven by infrastructure improvements associated with the military redeployment from Okinawa has been further delayed due to the budget crises in Japan and the U.S., as well as revised Japanese priorities in the wake of the earthquake and tsunami earlier this year. This has made the Guam trade no longer financially viable for Horizon Lines, without an eastbound return voyage from China.

"Given current market conditions and foreseeable future expectations, discontinuing the FSX service is the appropriate decision for the company," said Mr. 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."