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The payment follows a similar voluntary payment of $10 million the company made during the second quarter, and reduces borrowings on Horizon's $250 million revolving credit facility to $157.5 million.
Horizon Lines will report third-quarter results on October 24.
Charlotte, North Carolina-based Horizon Lines is a domestic ocean shipping and integrated logistics company comprised of two primary operating subsidiaries. The first, Horizon Lines, operates a fleet of 21 U.S.-flag containerships and five port terminals linking the continental United States with Alaska, Hawaii, Guam, Micronesia and Puerto Rico.
The company's Horizon Logistics unit offers customized logistics solutions to shippers from a suite of transportation and distribution management services designed by Aero Logistics, information technology developed by Horizon Services Group and intermodal trucking and warehousing services provided by Sea-Logix.
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