Tropical, a subsidiary of the Naperville, Ill-based natural gas utility Nicor, had operating revenue of $96.1 million in the fourth quarter down from to $116.4 million in the same 2008 quarter.
Tropical moved 48,300 TEUs during the fourth quarter compared to 50,800 in the same 2008 period. Revenue per TEU decreased to $1,988 per TEU from $2,291.
Russ Strobel, Nicor’s chief executive officer, said Tropical “remained solidly profitable, despite the impact the economic slowdown had on volumes shipped. Our shipping business is forecast to produce results in line with 2009.”
