Financially troubled Horizon Lines say customers have shown support as the Charlotte, NC ocean carrier looks for financing to get by the damage done by a US$45 million price fixing fine that may yet sink the enterprise, reports the Shipping Gazette.
"The vast majority of customers have indicated that they will continue to rely on the company for shipping services at the same levels as prior to the company's filing of its 2010 Form 10-K on March 28, 2011 which included a going concern modification to its unqualified audit opinion," Horizon said.
The carrier said it was "experiencing a slight improvement in its accounts receivable aging through the end of the first quarter."
In addition to the US fines, the carrier still needs to tackle civil suits from shippers with whom negotiations continue over claims amounting to $20 million in compensation.
To this end, Horizon is "conducting meetings with customers, vendors and others to discuss the company's daily operations and its commitment to customer service excellence", said the carrier in a statement filed with the US Securities and Exchange Commission.