Unalaska, AK – Horizon Lines' quarterly report contains mixed news regarding the international shipping company.

The report came out last week and revealed that the company had sustained losses in the first quarter of the fiscal year. While revenue grew nearly 4% to $285 million, the company still faced a $34 million loss because of the cost of fuel and loss of business with Maersk.

The report also discussed the status of an antitrust case involving price-fixing in the Puerto Rico trade lane. Horizon had been fined $45 million as part of a plea agreement, but that fine has since been reduced to $15 million to be paid over five years. According to the report, 58 class action lawsuits related to the price-fixing scheme were filed, with 32 of those suits being consolidated and ultimately settled. At present, one case remains open in Alaska, and both Horizon and the plaintiffs "have agreed to stay the Alaska litigation, and [Horizon] intend[s] to vigorously defend against the purported class action lawsuit."

When previously asked about the status of Horizon's Alaska operations as they relate to refinancing, the company offered the following statement:

"Horizon Lines is in constructive discussions to refinance debt and strengthen the company's financial position. We are maintaining focus on operational excellence, customer service and safety and do not expect refinancing efforts to have any impact on operations in Alaska."

Horizon conducts operations in the ports of Dutch Harbor, Kodiak, and Anchorage.