Tropical sees drop in
Nicor Inc., the Naperville, Ill.-based natural gas utility that also owns the Caribbean container liner company Tropical Shipping, said its second quarter shipping operating income was $5.7 million compared to $8.3 million in the same 2007 period.
The decline, as in the first quarter, reflects higher operating costs, primarily increased fuel costs.
Revenue from shipping for the quarter was $102.6 million compared to $97 million in the same 2007 period, reflecting higher average rates, due primarily to surcharges for fuel. Average revenue per TEU was $2,098 in the second quarter 2008 compared to $1,923 in the second quarter 2007.
Tropical moved about 48,800 TEUs in the quarter compared to 50,500 in the second quarter of 2007.
Tropical sees drop in
