Horizon Lines Report Container Volumes Up in Q2 2012

Press Release
Friday, August 03, 2012

Horizon Lines reports second-quarter 2012 financial results: container volume improves 3.6% from a year ago.

Sam Woodward, President and Chief Executive Officer said "Our overall adjusted EBITDA performance for the quarter was better than expected, due largely to the volume gain, which in turn improved the recovery of fuel costs. Our overall adjusted EBITDA performance for the quarter was better than expected, due largely to the volume gain, which in turn improved the recovery of fuel costs."

"Looking at each trade lane, Hawaii experienced continued strong volume gains during the quarter, helped in part by improving tourism and ongoing customer support amid an otherwise sluggish business environment," Mr. Woodward said. "Alaska's business rebounded from the first quarter, when record cold and snowfall exacerbated and extended the typically slow winter season. However, volume remained just shy of the year ago level, primarily due to a late start to the summer seafood season. Puerto Rico experienced a modest volume increase from a year ago, characterized by an improved mix of refrigerated cargo."

Outlook
The company continues to project that 2012 container volumes will increase modestly, in the 1% to 2% range, and that container rates, net of fuel surcharges, will rise slightly from 2011 levels, due to the continuing slow economic recoveries in our markets.  Fuel prices for 2012 are currently projected to average in the $675-$680 per-ton range.

 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Jet Edge Celebrates 30 Years in Waterjet Industry

Waterjet systems manufacturer Jet Edge, Inc. celebrated its 30th anniversary Sept. 3 with a special open house celebration. Jet Edge’s anniversary event included

TITAN Salvage Receives NAMEPA Award

The North American Marine Environment Protection Association (NAMEPA) announced earlier this month that Houston-based TITAN Salvage, a subsidiary of Crowley Maritime Corp.

MM&P Hopes to Pad Ranks with Brown Water Mariners

New York Harbor Tug Boat Captains and Crews, Staten Island Ferry Workers, Circle Line and Other Tourist Boat Crews Vote on Joining New Union Uniting with the International Organization of Masters,

Finance

NRC Program Targets Vessel Operating Costs, Safety

Canada’s NRC creating solutions for the growing Canadian shipbuilding, military vessels, marine commercial transportation and offshore resource industries As

Senator Says 2015 Could Be Time for US Oil Export Bill

The top supporter in the U.S. Congress for reversing the 40-year ban on crude oil exports, Senator Lisa Murkowski from Alaska, said next year could be the time for a bill on lifting the restriction.

Global Ship Lease to Acquire Containership

Global Ship Lease, Inc. has  announced  that it has agreed to acquire a 8,063 TEU containership from a leading container liner company for a purchase price of $55 million.

 
 
Maritime Careers / Shipboard Positions Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1329 sec (8 req/sec)