SAN JUAN, Puerto Rico, March 2, 2012 /PRNewswire/ -- Horizon Lines, Inc. (OTCQB: HRZL) announced today that it will raise its rates for shipping cargo between the mainland United States and San Juan, Puerto Rico, effective April 1, 2012. The company has filed the rate increase with the Surface Transportation Board.
Ocean cargo rates per 20-foot-equivalent container for non-refrigerated service between San Juan and Elizabeth, New Jersey; Houston, Texas; and Jacksonville, Florida, will increase by $150, $125 and $75, respectively. Frozen refrigerated rates between the same ports will increase by $200, $150 and $100, respectively, while chilled/fresh refrigerated rates will rise $250, $200 and $125.
Ocean Rates per 20-ft-Equivalent Container
|Port||Elizabeth, NJ||Houston, TX||Jacksonville, FL|
"This rate increase reflects rising operational costs, many of which are contractual, that Horizon Lines has experienced over the past several years, and is needed to support ongoing investments in our business," said Richard Rodriguez, Vice President and General Manager, Puerto Rico. "Horizon Lines has been implementing cost reduction measures to minimize the need for rate increases, but these efforts have not been able to entirely offset our overall rise in costs.
"Horizon Lines remains committed to continuing our ongoing investment in a strong ocean transportation infrastructure for Puerto Rico," Mr. Rodriguez continued. "In recent years, we have invested more than $29 million in terminal improvements, vessel enhancements, new container equipment, and information technology. And this year, we intend to invest a substantial amount to enhance three of our Puerto Rico vessels. Providing service excellence to our customers remains our highest priority today, tomorrow and for years to come."
Horizon Lines has been serving Puerto Rico since 1958 and provides direct weekly sailings to San Juan from Jacksonville, Florida, and Elizabeth, New Jersey, as well as service once every two weeks from Houston, Texas, including a direct call at the port of Tampa, Florida.
About Horizon Lines
Horizon Lines, Inc. is one of the nation's leading domestic ocean shipping companies and the only ocean cargo carrier serving all three noncontiguous domestic markets of Alaska, Hawaii and Puerto Rico from the continental United States. The company maintains a fleet of 15 fully Jones Act qualified vessels and operates five port terminals in Alaska, Hawaii and Puerto Rico. A trusted partner for many of the nation's leading retailers, manufacturers and U.S. government agencies, Horizon Lines provides reliable transportation services that leverage its unique combination of ocean transportation and inland distribution capabilities to deliver goods that are vital to the prosperity of the markets it serves. The company is based in Charlotte, NC, and its stock trades on the over-the-counter market under the symbol HRZL.
SOURCE Horizon Lines, Inc.