TROPICAL AND TECMARINE SIGN NO-COMPETE AGREEMENT

TROPICAL AND TECMARINE SIGN NO-COMPETE AGREEMENT    Tropical Shipping and Tecmarine Lines Inc., the U.S./Caribbean shipping lines, have entered into a no-compete agreement.
   Under the agreement, filed with the U.S. Federal Maritime Commission, Tecmarine will not compete with Tropical in the trade between the U.S., the Guianas and the eastern Caribbean.
   The no-compete agreement is linked to Tropical’s takeover of certain Tecmarine assets and stock companies operating in those trading areas.
   In April, Tropical Shipping, an ocean carrier subsidiary of Nicor Inc., signed a definitive agreement to acquire certain assets of the eastern Caribbean and North Coast of South America service of Tecmarine Lines Inc. and TMX Logistics Inc.
   The markets affected include St. Maarten, Antigua, Trinidad, Guyana, Suriname and French Guiana. The last three are new to Tropical Shipping.