Container shipping line Horizon will launch its own weekly trans-Pacific service to Guam and Asia from the US west coast this December, Pacific Business News reported.
The company has also announced it has reached a Memorandum of Understanding (MOU) with APM Terminals North America (APMT) for a new six-year agreement effective immediately. The prior arrangement was due to expire on 10 December.
The agreement covers stevedoring and terminal services in Jacksonville, Houston, Los Angeles, Tacoma and Elizabeth.
Horizon is the second-largest shipper of containers to Hawaii and currently calls on ports in China under an agreement with Maersk Line, although both parties have decided not to renew that deal when it expires, also in December.
'Our study of the market reveals an opportunity for a niche player that can offer quick transit times with the highest levels of service excellence,' said Horizon chief executive Chuck Raymond.
'Container rates in the Pacific trade lane have bottomed out and are rebounding. China's economy is showing solid signs of recovery, and many major importers have reported that their service needs are not being met.'
Horizon said the terminal agreement renewal and new Asian service would save costs and boost revenue growth.
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