LINTHICUM, Md., Dec. 2 /PRNewswire-FirstCall/ -- Charles G. "Chuck" Raymond, Chairman, President and CEO of Horizon Lines, Inc. , last night called for greater cooperation between all segments of the container industry and the government to achieve real results in trade security next year. His remarks were made to an alumni gathering here of the U.S. Merchant Marine Academy at King's Point.
"We will hear a lot about this issue in months to come," Raymond began. "A new Congress is already preparing the debate over problems we face at home and abroad, at our ports and in the containers that bring us the consumer goods that drive our economy. You will hear a lot about 100% inspection. You will listen to talk about the many challenges we face in international port security. I hope we will begin to see some real results."
"The industry needs to come together -- shippers, carriers and labor -- to educate Washington on information technology and processes already in place that can improve trade and port security, he said."
"The good news about trade security is that effective solutions exist today. At Horizon Lines, we are already working on these solutions, leveraging investments we have made in our operations systems and in new technology, such as RFID," Raymond said. "The good news is that our work is proving we will deliver value beyond safety. We will deliver efficiency for our customers."
"The technology that can make trade safer can make trade more efficient," he said. "To us, that represents the next great innovation in container shipping."
Pointing to an example of solutions already in existence today, Raymond told attendees about an intermodal active radio frequency identification (RFID) solution for end-to-end real-time shipment visibility Horizon implemented this year in the Alaska trade. The system was engineered and implemented by Horizon Services Group, the information technology research & development arm of Horizon Lines, LLC.
The active RFID-based real-time tracking system, integrated with Horizon's industry-leading web-based event management system, offers shippers unparalleled shipment visibility and the potential for direct cost savings from tighter inventory control and real-time detailed shipment information throughout the container's transit from origin to final destination.
About Horizon Lines
Horizon Lines, LLC is the nation's leading Jones Act container shipping and integrated logistics company, operating 16 U.S.-flag vessels on routes linking the continental United States with Alaska, Hawaii, Guam, and Puerto Rico. Horizon Lines also owns Horizon Services Group, an organization with a diversified offering of cargo management and tracking services being marketed to shippers, carriers, and other supply chain participants. Horizon Lines, LLC and Horizon Services Group are wholly owned subsidiaries of Horizon Lines, Inc., which trades on the New York Stock Exchange under the ticker symbol HRZ.
This press release includes "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that do not relate solely to historical fact. They include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events.
All forward-looking statements involve risk and uncertainties. The occurrence of the events described and the achievement of the expected results depend on many events, some or all of which are not predictable or within our control. Actual results may differ materially from expected results.
Factors that may cause actual results to differ from expected results include: our substantial debt; restrictive covenants under our debt agreements; decreases in shipping volumes; our failure to renew our commercial agreements with Maersk; raising fuel prices; labor interruptions or strikes; job related claims, liability under multi-employer pension plans; compliance with safety and environmental protection and other governmental requirements; new statutory and regulatory directives in the United States addressing homeland security concerns; the successful start-up of any Jones-Act competitor; delayed delivery or non-delivery of one or more of our five new vessels; increased inspection procedures and tight import and export controls; restrictions on foreign ownership of our vessels; repeal or substantial amendment of the Jones Act; escalation of insurance costs, catastrophic losses and other liabilities; the arrest of our vessels by maritime claimants; severe weather and natural disasters; our inability to exercise our purchase options for our chartered vessels; the aging of our vessels; unexpected substantial drydocking costs for our vessels; the loss of our key management personnel; actions by our significant stockholders; changes in tax laws, an adverse tax audit and other tax matters; and legal or other proceedings to which we are or may become subject.
In light of these risks and uncertainties, expected results or other anticipated events or circumstances discussed in this press release might not occur. We undertake no obligation, and specifically decline any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
