Horizon Lines, LLC, the second largest ocean cargo carrier which serves the Hawaiian Islands, has announced that it will be selling its Hawaii operations component to The Pasha Group for $141.5 million. Assuming that the transaction meets regulatory approval, this will mean that Matson Inc. and The Pasha Group will be the only two domestic shipping companies to serve the state after Horizon departs. Leroy Laney, a professor of economics and finance at Hawaii Pacific University, expressed some concern about this and commented, "This is going to eliminate one competitor. It's a small one but it's one competitor. It further concentrates what is a concentrated market to begin with." Laney noted that Mason will control just over 70 percent of the domestic shipping market share and Pasha, with the acquisition of Horizon, would control the rest.
Source: Honolulu Star Advertiser, 11-12-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
