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96 Maritime Reporter & Engineering News ity requires investments that Bourbon would not be able to make for several years, due to the decisions announced in the Bourbon 2015 Leadership Strategy.

This is why the sale to a professional in the Bulk field is the best solution for the development of this activity", said

Jacques de Chateauvieux, CEO of Bour- bon. "With this sale, Bourbon becomes a pure player in marine services to the off- shore oil and gas industry, focused on the implementation of its strategic plan."

The sale should be completed before the end of the year.

Horizon Lines Reports Q3 Results

Horizon Lines, Inc. reported financial results for its fiscal third quarter ended

September 19, 2010. On a GAAP basis, third-quarter net income was $7.7 mil- lion, or $0.25 per diluted share, compared with $8.4 million, or $0.27 per diluted share, for the third quarter of 2009. On an adjusted basis, third-quarter net income totaled $11.0 million, or $0.35 per diluted share, excluding charges of $3.3 million after tax, or $0.10 per diluted share, for antitrust-related legal expenses, an equip- ment impairment charge and union sev- erance. This compares with 2009 adjusted net income of $11.4 million, or $0.37 per diluted share, after excluding antitrust-related legal expenses and a ves- sel impairment charge totaling $3.0 mil- lion after tax, or $0.10 per diluted share.

Third-quarter revenue increased to $311.0 million from $308.0 million a year ago.

Container volume for the 2010 third quarter totaled 65,726 loads, a 2.8% de- cline from 67,649 loads for the same pe- riod a year ago. Puerto Rico and

Hawaii/Guam experienced the largest year-over-year declines. Alaska volume was down just marginally. Container vol- ume for the 2010 nine-month period to- taled 190,610 loads, down 1.4% from 193,305 loads a year ago.

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