Tropical reports volume, rate declines
Caribbean container shipping line Tropical Shipping reported third quarter operating income of $6.6 million compared to $9.5 million in the same 2008 period, according to its parent company, Illinois-based natural gas utility Nicor.
Operating revenue for the period ending Sept. 30 was $83.3 million compared to $108.5 million in the same 2008 period.
Nicor said the shipping line's operating costs decreased, due in large part to lower volumes, lower fuel prices and lower charter costs.
Tropical moved about 43,000 TEUs in the third quarter compared to 49,500 in the same 2008 period, Revenue per TEU was $1,942 compared to $2,196 in the comparable 2008 period.
While the carrier still calls 25 ports, it operated 15 ships in the quarter compared to 17 a year earlier.