Horizon Lines Report Q1 2014 Container Volume Increase
Horizon Lines, Inc. has released its financial results for the fiscal first quarter ended March 23, 2014. Volume, Rate & Fuel Cost – Container volume for the 2014 first quarter totaled 55,223 revenue loads, up 7.6% from 51,321 loads for the same period a year ago. The increase was primarily due to improved volumes in our Hawaii and Puerto Rico markets, partially offset by a decline in volumes in our Alaska market. Unit revenue per container totaled $4,197 in the 2014 first quarter, compared with $4,363 a year ago.
Governor Welcomes Horizon Lines to Philadelphia
Horizon Lines relocated its Northeast port of call from Elizabeth, New Jersey to Philadelphia, to mark another milestone for the Port of Philadelphia. Led by Governor Tom Corbett and political and business leaders from across the region, the Packer Avenue Marine Terminal welcomed Horizon Lines, Inc., one of the nation's premier containerized cargo shipping lines, to Philadelphia. Under terms of the agreement between Horizon and Packer, reached with the assistance of Governor Corbett and other Commonwealth officials, Horizon will call Packer 52 times a year, providing weekly service between the Northeast U.S. and San Juan, Puerto Rico.
Horizon Lines in Red, But EBITDA Rises in Q1 2013
First quarter 2013 net loss amounted to US$ 20.1 million, while rate, net of fuel, increased 1.9% & adjusted EBITDA was up 25.7% from a year ago. "The positive factors resulting in adjusted EBITDA growth were partially offset by reduced container volume, higher stock-based compensation expense, mechanical issues on one of our vessels and increased vessel operating expenses. "In recent months, we have taken steps to improve the competitiveness of our Puerto Rico service by reducing sailings between Jacksonville and San Juan to once a week and moving our northeast service to Philadelphia," Mr.
Horizon Lines To Expand Gulf Service
Horizon Lines announced that it will expand its Gulf service to offer shippers a Tuesday sailing every other week from Jacksonville to San Juan. Adding the Jacksonville call also creates a high-speed, over-the-weekend marine option through Houston for cargo bound for southeastern destinations along the Eastern Seaboard. The company's weekly Thursday service departing Jacksonville for Puerto Rico remains unchanged. "This is an innovative schedule refinement that utilizes an existing in-service vessel to add a biweekly Tuesday Jacksonville service, as well as provide both U.S.
Horizon Names Hamlin EVP & COO
Horizon Lines, Inc. has announced that William A. Hamlin has been named Executive Vice President and Chief Operating Officer. In his new role, Mr. Hamlin will continue to report to Sam Woodward, President and Chief Executive Officer. Mr. Hamlin joined Horizon Lines in March 2011 as Senior Vice President of Operations. His responsibilities include ocean transportation services, inland transportation, terminals, equipment management, maintenance, network management, labor relations, security, safety and environmental.
Horizon Lines Plan Diesel/LNG Engine Fuel Conversions
Horizon Lines plans to convert the power plants on two of its steam turbine cargo vessels to modern diesel engines capable of burning conventional liquid fuels or liquefied natural gas (LNG). "We are viewing this as the first step in a repowering initiative for Horizon Lines vessels serving in the Hawaii and Puerto Rico trade lanes," said Sam Woodward, President and Chief Executive Officer. "The two initial steam vessels targeted for the planned repowering are structurally viable for the conversion from steam-powered to dual diesel/LNG engines.
Horizon Lines Continue to Improve Financial Performance in Q2 2013
Horizon Lines, Inc. reported financial results for the fiscal second quarter ended June 23, 2013 with an almost doubled EBITDA from the same period last year. "Horizon Lines second-quarter adjusted EBITDA nearly doubled from the same period a year ago, driven largely by reduced vessel charter expense, lower dry-dock transit and crew-related expenses, lower fuel consumption, higher non-transportation revenue, reduced overhead and gains on the sale of assets," said Sam Woodward, President and Chief Executive Officer. "The positive factors driving adjusted EBITDA growth were partially offset by reduced container volume and increased vessel operating expenses.
Horizon Lines Names President
Horizon Lines, Inc. one of the nation's leading domestic ocean shipping companies, announce that Sam Woodward has joined the company as President and Chief Executive Officer (CEO) and has been appointed to the company's Board of Directors, effective June 7, 2012. Mr. Woodward succeeds Stephen H. Fraser, who has served as interim President and CEO since March 2011. Mr. Woodward, 63, joins Horizon Lines from Traffic Tech Inc., an international freight forwarder, where he held several executive leadership roles.
Horizon Lines Report Container Volumes Up in Q2 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. "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.
Horizon Lines Continue to Improve Performance in Q4 2013
Horizon Lines has released its fourth-quarter 2013 financial results showing an adjusted EBITDA increase of 33.1%, which is its 4th consecutive quarter of double-digit Improvement . "Horizon Lines fourth-quarter adjusted EBITDA increased 33.1% over the same period a year ago and the company generated GAAP operating income of $1.8 million in the quarter, the first fourth-quarter GAAP operating profit since 2009. The improvement in adjusted EBITDA was driven largely by reduced vessel charter expense…
Horizon Lines Report Container Volume, Revenue, Up in Q3 2012
Horizon Lines' financial report shows volume improves 3.4%, & rate, net of fuel up 2.9% from a year ago. "Horizon Lines generated a 3.4% improvement in container volume and a 2.9% increase in container revenue, net of fuel surcharges, for the third quarter, relative to the same period a year ago," said Sam Woodward, President and Chief Executive Officer. "Volume increases in Hawaii and Alaska offset volume weakness in Puerto Rico. However, third-quarter adjusted EBITDA of $27.0 million declined by $6.0 million from a year ago, largely due to $4.6 million of incremental transit and crew costs associated with dry-docking three Puerto Rico vessels in China.