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linehandling services due to rising oper- ating costs. The decision was made by the Republic of Panama's Cabinet
Council, upon a recommendation from the ACP's Board . Rates for tug services will increase seven percent and rates for linehandling services will rise four per- cent. Fees vary by vessel size. Rates for these services have not been increased since March 2004. However, increases in operating costs due primarily to sus- tained fuel hikes have impacted tugboat and linehandling services, making it necessary to adjust rates.
Stratos Acquires Xantic
Stratos Global Corporation completed its acquisition of Xantic B.V. for approx. $191 million, subject to post-closing adjustments. Xantic was the third largest provider of Inmarsat services in 2004, accounting for approximately 19 per- cent of Inmarsat's mobile satellite telecommunications revenue.
With the completion of this transac- tion, Stratos' market share increases to approximately 44 percent of Inmarsat's mobile satellite telecommunications revenue, according to the company.
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