Niche Market: A Windy City Company’s Tropical Connection

Tropical Shipping & Construction Co. Ltd., an operator of containerships between Florida and 14 Caribbean ports, is planning to spend $35 million on capital improvements during the next year.

Much of that money will be spent on containers and shoreside facilities. The company is also reviewing plans to add two additional containerships – either newbuildings or existing ships – to its 12-ship fleet that range in capacity from 62 TEUs to 440 TEUs. All are registered in St. Vincents.

A subsidiary of NICOR Inc., a natural gas utility holding company based in Naperville, Il., Tropical had a good year in 1990. Revenue was $119.5 million, 19% more than in 1989, and operating income was $17.8 million, up 15%. The company carried the equivalent of 82,300 twenty-foot boxes, 10,700 more than in 1989.

This is only an excerpt of Niche Market: A Windy City Company’s Tropical Connection

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