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Tropical Shipping to be sold

Tropical Shipping, based in the Port of Palm Beach in Florida, is being sold by owner AGL Resources Inc, of Atlanta, Georgia, to a subsidiary of Seattle-based Saltchuk Resources Inc.

The US$ 220 million sale is expected to go through in the second quarter of 2014.

This will be the fifth transportation-based company for Saltchuk, which employs some 7,500 people across the country. Tropical Shipping was founded in 1963. It now employs over 1,000 people and owns 11 ships with three on lease.

Tropical Shipping