Tropical Shipping’s profit, revenue climb in 2nd quarter

Tropical Shipping’s profit, revenue climb in 2nd quarter    Tropical Shipping’s revenue rose 27 percent to $92.3 million while its operating income soared 49 percent to $10.3 million in the second quarter, the U.S./Caribbean liner shipping specialist’s parent company, Nicor Inc., reported Friday.
   The improved second quarter operating income brought the carrier’s first-half operating profit to $22.5 million, more than twice its $11.1 million result for the first six months of 2004.
   “Improvements for both the quarter and six-month periods in 2005 were due primarily to increased volumes shipped and higher average rates,” Nicor said.
   Revenue from shipping in the first half reached $182.8 million, up 30 percent on the year-earlier period.
   “Our shipping business continues to perform very well,” said Russ M. Strobel, Nicor’s president and chief executive officer. However, the Nicor group’s main business, gas distribution, continues to report declining profits.