Maersk, Horizon End TP1 Slot Charter Agreement

The slot charter agreement between Horizon Lines and Maersk Line on the Trans-Pacific 1 (TP1) service will cease in December 2010. This weekly service currently calls Yantian, Xiamen, Kaohsiuing, Los Angeles, Oakland, Honolulu and Guam. Horizon Lines operates five vessels in this service. Maersk Line has been utilizing the entire 1100 FFE capacity eastbound, and uses a small amount of space on the westbound rotation. Empty westbound Maersk Line containers are utilized by Horizon Lines for their West Coast customers to ship cargo to Hawaii and Guam.

"Maersk Line is carefully watching market developments and reviewing customer requirements. Once these are made clear we will release a plan designed to replace TP1 capacity. You can expect to see this plan in the 3rd quarter when customer requirements for 2011 will be better known." said Lars Mikael Jensen, Maersk Line Vice President, Network and Product.