SEABOARD MARINE REPORTS STEADY PROFIT FOR 3RD QUARTER

SEABOARD MARINE REPORTS STEADY PROFIT FOR 3RD QUARTER    Seaboard Marine made an operating income of $4.1 million in the third quarter, up slightly from the $3.6-million result for the corresponding period of last year.
   Net sales for the latest quarter were $97.6 million, up from $95.7 million a year ago.
   Seaboard said that the increase in sales resulted from an increase in volumes to certain markets, partially offset by lower average cargo rates.
   The carrier, which specializes in the U.S./South American and Caribbean trades, said that it benefitted from improved South American markets this year, although economic uncertainties still exist in some of these markets.
   For the first nine months of the year, Seaboard posted an operating income of $15.2 million, up from $6.1 million this time last year, and net sales of $284.2 million, up from $260.1 million.
   Seaboard expects its results for this year’s fourth quarter to be lower than last year.