House Panel OKs Bill
To Fund Panama CanalWASHINGTON - A House subcommittee approved legislation authorizing $496 million for the operation and maintenance of the Panama Canal in fiscal 1989.
The bill permits the Panama Canal Commission, under a revolving fund, to spend that amount from receipts, other funds and borrowing authority.
It prohibits expenditures to implement a toll increase next year, and contains a new requirement that the commission provide written notification to Congress about toll increases that may be necessary after fiscal 1989.
Also, the commission must inform Congress about so-called profit payments under the 1979 Panama Canal treaty due the Republic of Panama, and about capital program starts that exceed $10 million not otherwise specified in
commission budget estimates.
The measure was reported Tuesday by the Panama Canal/Outer Continental Shelf Subcommittee.
Agent in Portugal
Evergreen Line announced the establishment of Green Iberica SA as its general agent in Portugal as part of a move to upgrade its service to that country.
For trade between North America and Portugal, the Taiwan-based carrier said it offers customers the option of moving cargo via Rotterdam or Valencia, Spain. It said it uses a barge feeder service between Lisbon and Valencia at considerably lower cost than rail or road transportation, although overland shipment is available upon request.
Green Iberica has offices in Lisbon and Leixoes.
Seaway Traffic Up
At Start of Season
CHICAGO - Shipping on the Saint Lawrence Seaway got off to a brisk start in the first few weeks of the 1988 shipping season.
Grain movements alone are up 11 percent to 910,000 tons as of April 14, compared with 820,000 tons in the early weeks of 1987. The Seaway officially opened March 29.
Total volume through April 14 was 1.850 million metric tons, compared with 1.697 million metric tons for the comparable period last year.
Seaway officials in Washington, D.C., said 152 vessels and lakers have moved along the system so far this year, a 22 percent increase over transit in the early weeks of the season last year. Of the total, 36 were oceangoing vessels.
General Agent Changes
NEW YORK - Constellation Navigation Inc. announced changes in its appointment of general agents across the United States.
Constellation is the general agent for Bangladesh Shipping Corp., Holland Pan American Line, Navrom and Pharos Lines SA (Navigation Line).
In the Midwest, Merit Steamship Agency Inc. of Chicago has been named by Constellation to serve customers in Wisconsin, Illinois, Iowa, Indiana, Michigan, Ohio, Missouri, Kansas, Nebraska, Minnesota, North and South Dakota and the northwestern sections of Pennsylvania and New York state.
Constellation's other newly named general agents are C.T.O. International Inc. for the Canadian market, excluding British Columbia; Omni Shipping Inc. for Alabama, Mississippi and Tennessee; and Hassler & Co. for the Richmond, Va., market.
Japanese Cargo Ship
In Danger of Sinking
OPORTO, Portugal - A South Korean crewmember was missing and 21 others were rescued Tuesday night from a Japanese cargo ship that was reported sinking three miles off the Portuguese coast, officials said.
The 600-foot, Panamanian- registered Reijin, carrying Japanese cars to Dublin, Ireland, began listing shortly after leaving the Port of Leixoes outside this northern city, rescue and port officials said.
Early Wednesday, witnesses said the 58,000-ton ship was listing 80 degrees to port and in imminent danger of sinking.
Rescue services were attempting to tow the ship into deeper waters early Wednesday so it would not endanger shipping close to Leixoes if it sank.
House Panel OKs Bill