NEW IMPORT POLICY ON MARINE VESSELS PROMOTES NORTHERN ECONOMIC DEVELOPMENT

-- Nunavut Eastern Arctic Shipping (NEAS) congratulates Prime Minister Stephen Harper
and Finance Minister Jim Flaherty for removing the 25% duty on marine vessels imported
after January 1, 2010 --

IQALUIT, Oct. 29 /CNW/ - NEAS (www.NEAS.ca) today congratulated the Government of Canada for the recent announcement eliminating the 25% import tariff for marine vessels.

"Prime Minister Stephen Harper and Finance Minister Jim Flaherty have demonstrated vision and leadership in developing this new policy," said Suzanne Paquin, President and CEO, NEAS. "As announced, the new policy strikes the right balance and demonstrates the federal government's commitment to the sound and defensible principles of fairness and equity."

To restore, modernize, and enhance the reliability of vital dry cargo resupply services available for its growing base of customers across the Arctic, NEAS has been pursuing a strategic fleet renewal initiative.  With an increase in its fleet capacity by over 160%, NEAS is the fastest growing operator serving the Canadian Arctic.

"Our customers across the Arctic will benefit from this new policy and the government's demonstrated commitment to fair competition," said Ms. Paquin.

With a fleet of modern Canadian flag vessels and a team of professional employees, NEAS reliably delivers superior marine transportation, marshalling, packaging and cargo container services for individuals, businesses, communities, mining operations, government departments and agencies, as well as military and other installations across the Arctic and along the Northwest Passage.  For a better sealift experience, give us a call at 1-877-225-6327 or visit online www.sealift.ca.

For further information:

For comment, call Suzanne Paquin at 1-877-225-6327 or email [email protected]