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Horizon in deal to return ships

Tuesday, April 10, 2012

Horizon Lines said Tuesday morning it has reached a deal with Ship Finance International Limited (SFL) to return five ships it had under charter that are currently laid up in the Philippines. Horizon will give a 10-percent stake in the company to SFL plus a $40 million bond to end the charter. The five 2,824-TEU "Hunter Class" ships were used by Horizon in its transpacific service that made a stop in Guam on the westbound leg. Originally Horizon had cha...

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