Cargo Business Newswire

Thursday, September 25, 2014

Saltchuk completes acquisition of Tropical Shipping

Saltchuk has competed its acquisition of Tropical Shipping and its related companies, according to a company statement.

Three gatherings were held last week in Palm Beach and Miami, bringing together more than 550 of the company’s 1,000 employees.

"It was important that this be about our employees. It was an opportunity for them to meet our new owners and to celebrate this next chapter in our company’s story," said Mark Chapman, Tropical’s Vice President of Organizational Support.

While the ownership transition is significant, the company doesn’t expect any change in day-to-day operations of the Caribbean Shipping Line. Tropical Shipping will continue to operate as a standalone operation, the statement said.

Saltchuk said the buy includes Tropical Shipping, a top shipping and logistics company for the Bahamas and Caribbean, and all its related transportation, consolidation and cargo insurance companies.

"Most importantly, Tropical shares our values," said Saltchuk Chairman Mark Tabbutt and President Tim Engle in an announcement to employees. "The Company has a strong safety culture, has the best on time service in its region, and is committed to giving back to the communities which it serves."

Tropical and its related companies will become Saltchuk’s sixth line of business, along with sister companies TOTE, Foss, North Star Petroleum, Northern Aviation Services and Interstate Distributor. The recent purchase brings Saltchuk’s portfolio up to almost $3 billion in annual sales, the statement said.

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