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Horizon Lines is a maritime transport and logistics company. It is the only Jones Act shipper to serve the 3 non-contiguous regions of Puerto Rico, Alaska and Hawaii. In addition, the company also ships to Guam as well as Asia as part of an agreement with Moller Maersk.[1]
[edit] Business
[edit] Competitors
Horizon doesn't have a direct competitor for comparison as it is the only Jones Act shipper to service all three non-contiguous US ports (Puerto Rico, Hawaii/Guam, Alaska). The competitors listed below are also Jones Act shippers but have other operations and/or focus.
Alexander & Baldwin - Hawaii-based operator with operations in sugar & real estate:
- Largest Jones Act shipper in the Hawaii market
- Produces 3% of U.S. sugar output
- Hawaiian real estate may not be as vulnerable as contiguous US real estate
- Heavy focus on automobile cargo, which is lower margin
- Rising fuel costs affecting all shippers
- Entry into foreign markets without Jones Act protection
- Exposure to US housing market.
- Sugar market has not performed like other commodities in recent years.
Kirby (KEX) - Inland tank barge carrier focused mainly on petrochemical liquids transportation with some operations in diesel engine services.
- Market leader in inland transport of petrochemicals.
- Diesel engine segment may experience growth as economies focus on climate change and energy efficiency.
- Petrochemical shipping is more resistant to economic slowdowns.
- Higher capex costs due to large and aging fleet
- 25% of business from 2 customers: Dow Chemicals & ExxonMobil[2]
2004 Data 2005 Data 2006 Data 2007 Data 2008 Data Most Recent Data Available
[edit] References
- ↑ Enlightened American Research
- ↑ Horizon Lines- Competitor Review
- ↑ 2007 ALEX, 10-K, Item 1, Page 4
- ↑ 2007 ALEX, 10-K, Item 1 & 2, Page 2
- ↑ 5.0 5.1 2007 ALEX, 10-K, Item 8, Page 55
- ↑ 2007 HRZ, 10-K, Item 1, Page 7
- ↑ 7.0 7.1 2007 HRZ, 10-K, Item 6, Page 30
- ↑ 2007 KEX, 10-K, Item 1, Page 3
- ↑ 9.0 9.1 2007 KEX, 10-K, Item 6, Page 23
- ↑ ONAV -2006, Item 4, pg 17
- ↑ 11.0 11.1 11.2 11.3 ONAV -2006, Item 3, pg 1
- ↑ GASS - 20-F of 2006, Item 4 pg 20-21 & F-6
- ↑ 13.0 13.1 GASS - 20-F of 2006, Item 3 pg 2
- ↑ GASS - 20-F of 2006, Item 3 pg 3
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