Tropical reports 2nd quarter operating loss
Tropical Shipping recorded a $300,000 operating loss in the second quarter compared to a $4.2 million operating profit in the same 2010 period.
Revenue for the quarter ending June 30 fell to $79.9 from $86 million in the second quarter of 2010. “Challenging markets in the Bahamas and Caribbean continue to impact volumes,” the company said.
Tropical moved 36,500 TEUs in the quarter compared to 43,600 TEUs in the same 2010 period. Revenue per TEU increased to $2,192 during the second quarter compared to $1,975 per TEU a year earlier.
Tropical’s parent company is Illinois natural gas utility Nicor, which is merging with AGL Resources. Shareholders of both companies approved the deal in June.