• ITVI.USA
    13,714.340
    -40.170
    -0.3%
  • OTRI.USA
    21.930
    0.010
    0%
  • OTVI.USA
    13,686.380
    -35.040
    -0.3%
  • TLT.USA
    2.840
    0.000
    0%
  • TSTOPVRPM.LAXDAL
    2.280
    -0.210
    -8.4%
  • TSTOPVRPM.PHLCHI
    1.900
    -0.070
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  • TSTOPVRPM.LAXSEA
    2.720
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  • TSTOPVRPM.ATLPHL
    2.480
    -0.170
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  • TSTOPVRPM.CHIATL
    3.070
    -0.210
    -6.4%
  • TSTOPVRPM.DALLAX
    1.370
    -0.090
    -6.2%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    13,714.340
    -40.170
    -0.3%
  • OTRI.USA
    21.930
    0.010
    0%
  • OTVI.USA
    13,686.380
    -35.040
    -0.3%
  • TLT.USA
    2.840
    0.000
    0%
  • TSTOPVRPM.LAXDAL
    2.280
    -0.210
    -8.4%
  • TSTOPVRPM.PHLCHI
    1.900
    -0.070
    -3.6%
  • TSTOPVRPM.LAXSEA
    2.720
    -0.270
    -9%
  • TSTOPVRPM.ATLPHL
    2.480
    -0.170
    -6.4%
  • TSTOPVRPM.CHIATL
    3.070
    -0.210
    -6.4%
  • TSTOPVRPM.DALLAX
    1.370
    -0.090
    -6.2%
  • WAIT.USA
    127.000
    0.000
    0%
American Shipper

Trailer Bridge posts 2nd quarter loss, predicts brighter year ahead

Trailer Bridge posts 2nd quarter loss, predicts brighter year ahead

   Lower volumes caused by vessel dry-docking activity and reduced freight shipments negatively impacted Trailer Bridge’s second quarter performance, resulting in a net loss of $9 million, compared to a net income of $2.5 million in the same quarter 2005.

   The Jacksonville, Fla.-based U.S. mainland/Puerto Rico shipping line posted an operating loss of $6.5 million in the second quarter, from an operating profit of $5.1 million a year ago. Quarterly revenue dropped 8.2 percent to $25 million from $27.2 million.

   Southbound container volume decreased 15.4 percent although the average revenue per container increased 4.6 percent from the year-earlier period.

   Trailer Bridge’s Jacksonville/San Juan deployed vessel capacity utilization was 82.9 percent to Puerto Rico and 27.1 percent from Puerto Rico, compared to 91 percent and 25.4 percent, respectively, during the second quarter 2005.

   “The company believes that most of the volume reductions can be traced to temporary reductions in shipments by customers due to the Puerto Rico government shutdown and the disruptive effect of not having weekly roll-on/roll-off sailings due to the dry-docking,” Trailer Bridge said.

   For the year to date, Trailer Bridge posted a net loss of $10.8 million, which contrasts against a net income of $3.5 million in the first half 2005. The company reported an operating loss of $6 million after six months, from an operating profit of $8.6 million last year. Revenue in the first half period decreased 2.5 percent to $50.2 million.

   “Trailer Bridge does not believe that results for the second quarter are indicative of the results it anticipates reporting for the second half of 2006. Based upon current volume trends and additional expectations, Trailer Bridge believes that its earnings performance for the third quarter and second half of 2006 will eclipse the actual earnings performance reported in the comparable 2005 periods,” the company said.

   “The actual results we will report for the third and fourth quarters of this year will demonstrate that the second quarter was an aberration. For the first six weeks of the third quarter, revenue is running 13 percent ahead of the second quarter pace and we take this as an indication that much of the effect from the Puerto Rico government shutdown is behind us,” said John D. McCown, Trailer Bridge’s chairman and chief executive officer.

   “This is the first week that we have resumed weekly roll-on/roll-off sailings, and that will benefit us further as the revenue and volume disruption from everything related to the dry-dockings was meaningful. With the impact of the dry-dockings and the government shutdown behind us, I’m anticipating a robust second half as we return to growing earnings,” McCown said.