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Seattle company to buy Tropical Shipping

Family-owned company Saltchuk, which owns Alaska shipping line Totem Ocean Trailer Express and trucking company Interstate Distribution, announced this week it will buy Tropical Shipping–a shipping, distribution and insurance company serving The Bahamas and the Caribbean. 

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TheNewsTribune.com
Wednesday, April 9, 2014
Wednesday, April 9, 2014
John Gillie

A family-owned company, Saltchuk, that owns two major Tacoma businesses, Alaska shipping line Totem Ocean Trailer Express, and trucking company Interstate Distribution, announced this week it will buy Tropical Shipping, a shipping, distribution and insurance company serving The Bahamas and the Caribbean.


Tropical operates foreign-flagged vessels serving Caribbean islands and the Bahamas. It will compliment Saltchuk’s Sea Star Line, which serves Puerto Rico with American-flagged vessels.

Saltchuk also owns and operates Foss Maritime, West Coast tug, barge and distribution company that had its origins in Tacoma.

TOTE operates two roll-on, roll-off trailerships between the Port of Tacoma and Anchorage. The company is in the process of converting those ships to operate on liquified natural gas, a fuel that’s much less polluting than the diesel that most ships use.

The Tropical Shipping deal is expected to close within 90 days. Tropical valued the purchase at more than $200 million.

This is an excerpt from TheNewsTribune.com as it appeared on April 9, 2014. For updates or to read the current version of this post in its entirety, please click here.

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