from Tim Colton at www.coltoncompany.com
[LEFT]HORIZON LINES TAKES ANOTHER STEP TOWARD THE EXIT[/LEFT]
[LEFT]The world’s most incompetent liner operator is closing down its four-year-old USWC-Guam-China service - the Five-Star Express, they called it - and will lay up the five Korean-built ships that they bareboat-chartered for it. Read the announcement here. It’s hard to imagine that they were losing more with the ships in service than it will now cost them in charter payments and lay-up expenses, but that’s Horizon Lines for you. Down and out. October 25, 201[/LEFT]
[LEFT]
I agree that Horizon Lines are toast but think of how many MMP & MEBA mariners this eventuality will throw into the horrible maw that is the modern US maritime industry![/LEFT]