TRAILER BRIDGE POSTS LOSS
Trailer Bridge Inc., which operates between points in the lower 48 U.S.
states and Puerto Rico, reported a fourth-quarter net loss of $2.3 million,
compared with profit of $1.1 million a year earlier.
The company blamed $3.4 million in costs related to Hurricane Georges,
as well as reduced rate levels, year-end reserve adjustments, start-up
costs for a new U.S. East Coast service and reduced capacity utilization.
Revenue rose 38.2 percent to $23.6 million, as the company deployed
additional container-carrying barges. The operating loss for the quarter
was $3.3 million, compared with $1.6 million in operating profit a year
earlier.