Horizon gets first of five newbuildings

The US shipping company Horizon Lines announced today it took delivery of its first new containership, the ?Horizon Hunter? from the Hyundai Mipo shipyard in South Korea. The newbuilding is the first of five new, US-flag, foreign built, sister vessels that the company is chartering from subsidiaries of Ship Finance International Limited under definitive long-term charters and related agreements. The gross tonnage of the vessel is 28,592 tons, a capacity of 2,824 TEUs, and capable of a service speed of 23 knots.

The new vessels will be deployed in Horizon Lines’ TP1 service linking the U.S. West Coast with Guam and Asia commencing in early 2007. The ?Horizon Hunter? is being sub-chartered to international container ship operators until its deployment next year in the Company’s TP1 service.

The deployment of these five new vessels will provide additional space and faster transit time between the U.S. West Coast, Guam and Asia while it will also result in the redeployment of the company?s larger and younger US-built ships into two of its three fully qualified Jones Act markets, Hawaii and Puerto Rico.