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The long-awaited transformation of historic Nassau moved a step closer to reality this week with a single newspaper ad: a job opening for a managing director for the Arawak Port Development Company.
By NEIL HARTNELL
Tribune Business Editor
The Bahamas shipping registry has "every good reason" to be growing at a rate of 8-10 per cent per annum, in line with the global shipping industry's expansion, a government minister said yesterday, adding that the Bahamas Maritime Authority (BMA) had "achieved all of our goals for last year".
Earl Deveaux, minister of the environment, who has responsibility for the Government's relations with the BMA and the Bahamian maritime industry in general, told Tribune Business that key reforms adopted over the past year were essential to ensuring the global shipping and yachting industries saw the Bahamas as "the best option" f ...
Campbell Shipping Company yesterday signed a $30 million contract for a Japanese built vessel. The contract was signed with Imabari Shipbuilding Co. Ltd. of Japan.
The contract is for a 38,000 Ton Dry Bulk Carrier and delivery is expected in 2013. The new vessel will be registered on the Bahamian Ship Registry and will increase the Campbell fleet of ships to 16.
The ceremony took place at the Balmoral Club.
Present were executives of Imabari Shipbuilding Company, the Clipper Group, Galbraith's Ltd. and Campbell Shipping Company.
The Imabari Shipbuilding Group is the fourth largest shipbuilding company in the world.
Kiyoshi Higaki, managing director and a third generation owner of the shipyard, was present for the signing of the contract.
By NATARIO McKENZIE
Tribune Business Reporter
FEE increases at the new Arawak Port Development (APD) affecting shipping companies may soon affect retailers and wholesalers, with one shipping company already announcing new charges due to increased operating costs associated with the port's new tariff structure.
Crowley has announced that due to increased operating costs associated with the March 1 tariff implementation, the company would apply a new charge to open tariff and contract shipments for both northbound and southbound cargo. Crowley has announced that its Nassau port charges for its 20-foot equipment will be $150 per unit, $300 per unit 40 ft equipme ...
By NATARIO MCKENZIE
Tribune Business Reporter
THE past three years have been "hell" for the shipping industry, to Arawak Port Development (APD) chief executive Mike Maura Jr said yesterday, adding that he did not believe carriers would pull out of Nassau "any time soon" given the container volume the $2.6 billion Baha Mar project is expected to generate.
Mr Maura told Tribune Business: "Within shipping it has been a very difficult time for all of the carriers. They are expected to arrive on time, invest in their equipment, meet the demand of the public, the grocery stores, hotel properties and so forth, but they haven't been given the ben ...
Chamber of Shipping of America Recognizes Crowley's Explorer Crew for Quick Response to At-Sea Emergency
NEW ORLEANS - The
Crowley Maritime Corp. tugboat Explorer has been awarded with a letter
of commendation from the Chamber of Shipping of America (CSA) for
assisting a stricken vessel 30 miles west of Providenciales, Turks and
Caicos Islands, in December. Crowley crewmembers quickly responded to
the 20-foot vessel, which had run out of fuel, providing the crew of two
with water, life jackets, flashlights and a hand-held radio until the
Coast Guard arrived to provide further assistance.
By NEIL HARTNELL
A BAHAMIAN shipping company has had one of its key vessels seized by US marshalls via court order and impounded in Palm Beach, after it was alleged not to have paid the Palm Beach Shipping Agency $126,347.19 for shipping-related services.
Nassau-based Dean's Shipping Company has seen its MV Legend vessel seized, and placed in the care of US-based National Maritime Services, due to the dispute over alleged non-payment of stevedoring, wharfage and other fees between October 18, 2010, to the present.
Dean's Shipping has served notice of its intent to defend the matter and rescue its vessel, although court documents obtained by Tribune Business ...
Top supermarket executives have banded together to deliver one clear message - new tariff increases at Arawak Cay will mean higher prices on food for consumers.
Rupert Roberts, the owner of Super Value, said the situation "is nothing complicated".
"When we pay less for merchandise, we sell for less. When we pay more, prices are going to rise," he added.
The supermarket chief is predicting a rise of approximately three percent due to the new tariff structure at the $83 million Nassau Container Port (NCP).
Gavin Watchorn, the CEO of AML Foods Limited, provided a more modest estimate of one percent to two percent.
Either way, the retail industry is bracing for higher prices.
"In this industry you deal with low profit margins," Watchorn told Guardian Business. "That is significant for us. When you operate on tight margins, any movement of one or two percent can have a significant impact on the bottom line."
The response comes after Michael Maura Jr., the CEO of APD Limited, cleared the air on the port's stance concerning the new tariff structure. This week, all shipping operations are now handled out of the NCP, with Tropical Shipping and Atlantic Caribbean Line (ACL) shifting operations from downtown to Arawak Cay.
Maura provided a historic perspective on the cost increases, noting that carrier rates plummeted with the introduction of Mediterranean Shipping Company (MSC) six years ago and the subsequent onset of the recession.
"Even with the impact of NCP costs on carriers, the market is still paying much less than it was paying six years ago with freight," Maura argued.
He also pointed out that the 21st century port efficiently centralizes all shipping operations, which will no doubt result in long-term benefits for all stakeholders.
Roberts agreed with Maura, saying in 10 years costs might actually "average out and we may be better off". He believes that the benefit remains to be seen.
As for the present, Watchorn said the new tariff structure was unfortunately coming at a time when other costs, such as utilities, are at an all-time high.
If competition and the financial climate caused carrier rates to drop, Watchorn told Guardian Business that didn't come as an advantage to retail food stores. He noted the consumer benefited "because we are operating in such a competitive environment".
"All of those costs were passed on to the consumer. Now they will have to pay them back," he added.
This week, Maura conceded that each carrier has a unique port and cost structure, making it difficult to quantify the exact cost and benefit for each stakeholder. But at the end of the day, he remained confident that the net impact on cost will be "negligible", if anything at all.
The CEO said these fees are nothing new, and in exchange, the country now has access to an efficient and modern port.
"It is worthwhile to note that while the port costs have varied depending on where the carrier has historically operated, each carrier has, in fact, incurred port charges all along. The introduction of BCP fees are not in addition to historic fees but in place of."
Ladies and Gentlemen:
I am pleased to be here for the official opening of Arawak Port Development Limited. It is a red-letter day both in terms of the ongoing development of a new Port of Nassau replacing the old, privately owned ports which have been stretched along downtown Bay Street for much of our history and predating our independence.