Horizon Lines under investigation for ocean freight pricing practices

Feds look into possible price-fixing by ocean carrier in Puerto Rico.

By Dave Hannon -- Purchasing, 4/18/2008 8:20:00 AM

Ocean freight carrier Horizon Lines issued a statement confirming that federal investigators served the carrier with warrants and a subpoena as part of an investigation into ocean freight pricing practices in the Puerto Rico market.

Details about the investigation or Horizon Lines’ role are very limited. The Associated Press reports that investigators took computers and boxes from the Charlotte-based company's headquarters.There is no word on if the investigation will extend to other ocean freight carriers in the region. Other ocean freight firms that serve Puerto Rico include Crowley Maritime and Sea Star.

According to an SEC filing, on April 1 Horizon Lines’ CFO, Mark Urbania, announced his resignation and left the company three days later.

See also: Horizon Lines CEO proposes new ocean freight model