Tropical Shipping profits lost ground in 2008

Tropical Shipping profits lost ground in 2008 Tropical Shipping saw 2008 operating income decrease $6.1 million to $110.3 million compared to the previous year due in large measure to higher fuel costs, parent company Nicor Inc. announced Wednesday.
   Tropical Shipping is a container line serving the Caribbean region and the Bahamas.
   Nicor, a large energy holding company, said its fourth quarter shipping income increased $1.7 million compared to the same period in 2007 on the strength of higher operating revenues from fuel surcharges. The higher revenues partially offset lower cargo volumes attributed to the economic downturn and increased competition, it said.