MARITRANS REPORTS $3.8 MILLION LOSS

MARITRANS REPORTS $3.8 MILLION LOSS

A warm winter and a cold economy put American-flag tug and barge operator Maritrans Operating Partners LP $3.8 million in the red for the final quarter of 1991.

Slow demand for the heating oil and gasoline carried by Maritrans' tank barge fleet led to the disappointing financial results, the company said last week.The Philadelphia-based company said the loss during the last three months of 1991 compared with a $1.3 million profit during the last quarter of 1990.

Revenue dropped to $34.7 million from $39.8 million. For 1991 as a whole, income fell to $7.4 million from $18 million in 1990, and revenue fell slightly to $146.6 million from $152.4 million.

Maritrans is traded on the New York Stock Exchange under the name TUG.