Saltchuk, the parent company of TOTE Services, Inc., has entered into a binding Purchase and Sale Agreement to acquire Tropical Shipping and its related companies. The acquisition includes the premier shipping company for the Caribbean and The Bahamas, Tropical Shipping a leading NVOCC and consolidator Caribtrans and the Caribbean basin’s premier marine cargo insurance company Seven Seas Insurance. As an international foreign flagged shipping operation, Tropical and its related companies will become Saltchuk’s sixth line of business. Tropical will continue to operate as a standalone operation under its existing and excellent management team, headed up by Rick Murrell, Tropical’s CEO.
