San Francisco: The Pasha Group is free to complete its acquisition of Horizon Lines’ Hawaiian business after the US Department of Justice approved the move on Wednesday.
In a statement the Pasha Group, a global logistics company and a leading Jones Act shipping firm, said that on completion of the deal it will assume operations for all of Horizon’s Hawaii business, including Horizon’s four US flag container ships in the Hawaii trade lane.
Pasha Group said in a statement that by expanding its operations with Horizon’s Hawaii fleet, it will “provide customers with a wider offering of high-quality, scheduled shipping and logistics services for containers, refrigerated containers, and a variety of roll-on/roll-off cargoes”.
California-based Pasha, which has been serving the mainland-Hawaii trade lane since 2005, will also be getting Horizon subsidiaries Hawaii Stevedores and the California-based operations of Sea-Logix as part of the deal.
George Pasha IV, president and CEO, said his company plans to make significant upgrades to the Horizon fleet.
Founded in 1947, the family-owned Pasha Group already holds two Jones Act-qualified vessels, the M/V Jean Anne (12,424 dwt, built 2009) and the new M/V Marjorie C (21,132 dwt, built 2015). The Jean Anne is a Pure Car Truck Carrier (PCTC). The Marjorie C s a combination container and Ro-Ro.
North Carolina-based Horizon Lines had half a century of history specialising in Jones Act cargo services between the mainland and Alaska and Hawaii.
In 2011 and 2012 the company pleaded guilty to price fixing and false accounting charges. In late 2014 it began the process of selling up – its Alaskan operations to Matson Inc and its Hawaiian lines to Pasha.