International Shipholding making long-term adjustments after hurricanes
International Shipholding Corp. predicted the combined impacts from hurricanes Katrina and Rita in the U.S. Gulf will lead to a negative impact of $1.8 million on its third quarter financial results.
ISC said Thursday it will open a new office in Louisiana and shift the sailings of its specialized LASH vessels up the Mississippi in response to post-hurricane operating conditions.
ISC's New Orleans office was shut down when Hurricane Katrina hit, and the company established temporary offices in Baton Rouge, La., and Houston to handle much of what had been done in New Orleans. ISC said Thursday it plans to return 'when conditions are safe and the infrastructure is restored,' but it plans to open a new office in Mandeville, La., located on the north side of Lake Pontchartrain. The new office will be operational within 60 to 90 days. When the new office is open the current Houston office will be absorbed into the Mandeville office.
Meanwhile, ISC said its services provided by Forest Lines and Waterman Steamship have experienced significant scheduling delays as a result of port and waterway closures caused last weekend by Hurricane Rita. ISC will shift its next sailing to the Mississippi River, discharging and loading at Baton Rouge.
ISC added its ferry service between New Orleans and Coatazacoalcos, Mexico continues to be temporarily suspended while rail infrastructure for the New Orleans Public Belt and CSX railroads area restored.