Horizon Lines Takes Delivery of First of Five

Horizon Lines, Inc. took delivery of its first new containership, the Horizon Hunter from the Hyundai Mipo shipyard in South Korea. The Horizon Hunter is the first of five new, U.S.-flag, foreign built, sister vessels that the Company is chartering from subsidiaries of Ship Finance International Limited under definitive long-term charters and related agreements closed on April 11, 2006. The gross tonnage of the vessels is 28,592 tons, they have a capacity of 2,824 TEUs, and are capable of a service speed of 23 knots. The new vessels will be deployed in Horizon Lines' TP1 service linking the U.S. West Coast with Guam and Asia commencing in early 2007. The Horizon Hunter is being sub-chartered to international container ship operators until its deployment next year in the Company's TP1 service.