April 8 - A subsidiary of Saltchuk Resources has entered into a binding purchase and sale agreement to acquire Tropical Shipping and its related transportation, consolidation and cargo insurance companies.
As an international foreign flagged shipping and logistics operation, Tropical Shipping and its related companies will become Saltchuk's sixth line of business, but will continue to run as a standalone operation.
The addition of Tropical Shipping to Saltchuk furthers the company's commitment to the Caribbean market, having served Puerto Rico through its US flag operation, Sea Star Line, for 15 years.
Tropical Shipping operates ships from Canada and South Florida to the Bahamas and Caribbean as well as providing inter-island transportation services throughout the region, and has its own dedicated project logistics team.
The sale is expected to close within the next 90 days.