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FMC to Investigate Docking and Lease Agreement

Maritime Activity Reports, Inc.

August 24, 2004

The Federal Maritime Commission (FMC) issued an Order of Investigation and Hearing stating that it is opening an investigation into the exclusive docking and lease agreement entered into by the City of Portland, Maine and Scotia Prince Cruises Limited. The cruise company operates a ferry between Yarmouth, Nova Scotia and Portland. The agreement provides that the City will not grant docking rights to any other ferry service operating to Nova Scotia and that the cruise company will not operate to any other port in New England. The FMC investigation is to determine whether the agreement violates the Shipping Act of 1984. Docket No. 04-10 (HK Law)

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