Business Briefs
Business Briefs
Marshall Islands The Marshall Islands ship registry has seen huge growth during the past year in the number of vessels flying its flag. The ship registry exceeded the 20 million gross ton mark for the first time earlier this year. It now has more than 668 ships totaling 21.26 million gross tons flying the Marshall Island flag, a 29.5 percent increase over the 16.43 million gross tons registered in mid-2003. International Registries, Inc. (IRI), the U.S.-based administrator of the Marshall Islands registry, says it has the largest share of U.S.-owned fuel tanker tonnage, while in Europe major growth is coming from Germany. Among its U.S.-based shipping customers are Mobil and Sea-Land. -GJ Samoa More than $800,000 in claims has been filed against Samoa Aviation, which does business as Samoa Air, with the U.S. Bankruptcy Court of California, Central District. Pago Pago-based Samoa Air filed for Chapter 11 protection from creditors on December 12, 2003 saying that this was in order to maximize its return to service possibilities. The largest claim so far is $635,107 from the U.S. Internal Revenue Service (IRS), followed by $73,827 from ANZ Amerika Samoa Bank, and $28,033 from Air New Zealand. -FS Papua New Guinea A PNG government minister has lashed out at the Australian media over the negative publicity on the progress of the A$U3.5 billion PNG to Queensland gas pipeline project. Petroleum and Energy Minister Sir Moi Avei defended the project saying Australian media reports that the project was a myth and could not be finalized were false. He said the Australian media and commentators should acknowledge that PNG was becoming an "engine room" for economic growth in Australia. -AR FSM Mobil Oil Micronesia met with the FSM recently to renegotiate its fuel supply agreement, part of its tri-annual review process. FSM Vice President Redley Killion discussed with Mobil President Jeff C. Borja issues related to oil spills and contingency plans, confidentiality and liability for disclosure of business information to third parties and the equitable treatment of all Mobil customers, which in the FSM include Pohnpei, Chuuk and Yap. Kosrae is served by its own company, Micronesia Petroleum Corporation. -OW The U.S. Department of Interior, represented by Shana Lee, has made stops in the islands of the freely associated states in an effort to identify business opportunities for FSM and American investors, part of an overall agenda under Compact II to spur private sector development. Interested individuals are being invited to participate in a Business Opportunities Conference to be held in Los Angeles, Calif. and hosted by Secretary of the Interior Gale Norton on September 23 and 24. -OW Fiji Almost 2,800 athletes competed in the eighth FMF Fiji Games in Lautoka, Fiji late August. The aim of the games is to bring about solidarity and provide competition for athletes, to identify new sporting talents and train judges, referees and officials. Beside traditional sports, activities such as coconut husking, coconut climbing, and mat weaving were also featured to promote healthy lifestyles for all Fijian citizens. -SM The Analytical Laboratory at the University Of The South Pacific's Institute Of Applied Science has been awarded full accreditation by the International Accreditation New Zealand (IANZ). Institute Director Professor Bill Aalbersberg says the accreditation follows 15 years of hard work and dedication. Accreditation means international companies such as Douglas Pharmaceuticals, Nestles and Goodman Fielder and their parent companies will have the opportunity to send their products for quality testing at USP. -SM CNMI Jollibee, a popular Philippine-based fast-food restaurant chain on Saipan, closed one of its restaurants in Chalan Kanoa as the franchise holder, YCO Corp., cited business losses. YCO General Manager Ralph Yumul said the closure is only temporary and it may open again if business picks up over the next several months. Only one part-time employee was laid off. Six employees were transferred to Jollibee's main branch in Garapan and three others were transferred to other businesses under YCO. -FR Palau Palau's Financial Institutions Commission (FIC) has issued a conditional banking license to First Fidelity Bank, Inc. Formerly known as the Bank of Palau, First Fidelity will resume operations in August. The FIC has been working together with First Fidelity for more than a year to bring the bank into compliance with the Financial Institutions Act of 2001. -NC American Samoa Blue Sky Communications is providing a new service for its customers with the introduction in mid July of its "Pago/Apia phone2," a special cell phone that customers can use in either country. The phone, made by Siemens, works on Blue Sky's GSM cellular network in American Samoa, and on Samoa Cellular's TDMA network in Samoa. Blue Sky Marketing officer Lola Reid said that many local residents have been using the phone for several months on a test basis. -FS The U.S. Small Business Administration (SBA) has awarded the non-profit group Native American Samoan Advisory Council (NASAC) $150,000 for its Women's Business Center program. The program provides assistance and/or training in finance, management, marketing, procurement and the Internet. -FS Contributors: Olivier Wortel, Alex Rheeney, Frank Rosario, Giff Johnson, Nancy Chism, Fili Sagapolutele, Samantha Magick and Floyd Takeuchi. |
