Horizon FSX service to be grounded
Horizon Lines says this has made the Guam trade no longer financially viable for the company without an eastbound voyage from China.
October 24, 2011Updated: October 24, 2011
By KUAM News
By KUAM NewsGuam - Attributing the delay with the military buildup further exacerbated by the budget crises in Japan and the United States, Horizon Lines says this has made the Guam trade no longer financially viable for the company without an eastbound voyage from China. The statement comes as Horizon Lines, Inc. announced today that it will discontinue its Five Star Express (FSX) trans-Pacific container shipping service between the U.S. West Coast, Guam and China. The new service was launched less than a year ago in December 2010.
"This has been a very difficult decision in light of the tremendous contributions from our associates, and our organized labor and vendor partners, who have worked so hard to make the FSX service a success," said 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 U.S. West Coast on November 10, 2011.
The FSX service offers rapid eastbound transit between Ningbo and Shanghai in China and Los Angeles and Oakland on the U.S. West Coast. The westbound leg of the FSX service provides transit between the U.S. West Coast, Guam, Micronesia and the Northern Mariana Islands.