The transpacific trade, like most of the world’s major ocean shipping routes, is dominated by huge foreign carriers that are large enough to roll with tough times. The three biggest — APM Maersk of Copenhagen, Geneva-based Mediterranean Shipping Co. and Marseille-based CMA-CGM — each has a fleet larger than that of the U.S. Navy.
Alphaliner said that Horizon is one of six companies that entered the transpacific trade in the last two years. All but two have since dropped out.
Horizon said the amount that it could charge customers to transport a 40-foot cargo container has fallen 37% in the last 12 months, down to $1,500. During the same period, Horizon’s fuel costs rose by 40%.