SAMOA SHIPPING ANNOUNCES $1.6 MILLION IN PROFITS

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APIA, Samoa (September 28, 2001 – Radio Australia)---The Samoa Shipping Corporation has announced a pre-tax profit of more than $1.6 million for the fiscal year ending last December 31.

The announcement was made as the corporation reported acquisition of another vessel for its fleet.

The new 42-meter (138.6-foot) vessel, to be named the Samoa Express, and to cost more than $2.5 million dollars, is expected to arrive in Samoa during the second week of October.

One of the main overseas routes for the Samoa Express will be the Apia-Tokelau run.

Samoa Shipping also announced that another new vessel is on its way to replace its aging inter-island ferry, Tausala Samoa.

For additional reports from Radio Australia, go to PACIFIC ISLANDS REPORT News/Information Links: Radio/TV News/Radio Australia.

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