Search results for : ferry transportation
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Bahamas Ferries yesterday said it had introduced a $3 per ticket surcharge due to a "murderous" 35-40 per cent year-over-year increase in fuel costs, a senior executive warning that commodities "have the potential to drive us back" towards recession.
Khaalis Rolle, the inter-island ferry transportation provider's chief marketing officer, told Tribune Business: "We just last week introduced a fuel surcharge. Fuel is killing is; it's murdering us.
"The only way we are able to survive is if we introduce the fuel surcharge of $3 per ticket, which is not much when you factor in what it is. We are spending, in terms of fuel ...
Bahamas Ferries, the inter-island transportation company, yesterday expressed its "annoyance and frustration" after being left without any telecommunications services during what is one of its busiest periods, after the Water & Sewerage Corporation accidentally cut through the main T1 cable connecting Potter's Cay on Saturday.
Khaalis Rolle, Bahamas Ferries' chief marketing officer, told Tribune Business that the severance of the phone cable, which happened as the Water & Sewerage Corporation carried out maintenance work at the eastern edge of the Paradise Island 'off' bridge on East Bay Street, had left the company wit ...
A group of taxi, ferry, and golf cart operators in Bimini fear that the formation of a new transportation company will cut into their businesses and are calling on the government to offer them some sort of protection.
On Friday Prime Minister Perry Christie announced the formation of the Bahamas Hotel Corporation Tourism Services (Bimini) Ltd. by the Hotel Corporation to operate Resorts World Bimini Bay transportation and water sports activities...
As thousands continue to flock to Bimini via the Resorts World Bimini SuperFast ferry, several business have reported that the island is "booming" as a result, Guardian Business understands.
Big John's Restaurant and Bar, located in Alice Town, is just one of those businesses that have seen a spike in profits since the cruise ship started servicing the island, according to its co-owner Kiko Llama...
Harvesting a $60 million slice of the domestic food market is the aim of a new venture being developed by Bahamas Ferries designed to foster the growth of Family Island farmers.
The company has been in talks with around 10 of the islands' major food producers, particularly in Eleuthera and Andros, and is to meet with the Inter-American Institute for Cooperation on Agriculture (IICA) over its plans to create a dedicated farmers market at its site at Potter's Cay.
The development company that brought a casino and a cruise service to Bimini will invest an additional $150 million into the island and create another 1,000 jobs, Prime Minister Perry Christie announced during the weekend.
He spoke at a ceremony on Bimini to mark the arrival of Bimini SuperFast, which made its inaugural voyage on Saturday morning, bringing in over 500 visitors to the island...
Any immediate changes for the auto sector in this year's budget communication should not be expected, according to the president of the Bahamas Motor Dealers Association (BMDA).
Fred Albury told Guardian Business that a review of the current vehicle import duties should come down to the wire.
The change of government came close to the end of the fiscal year, he said, which would make it difficult for the Progressive Liberal Party (PLP) to fully implement its changes in the 2012/2013 budget communication. Nevertheless, he is hoping some sort of change is forthcoming.
"I am not so optimistic that anything will change regarding the budget for the auto industry this upcoming fiscal year," Albury said. "The new government will not have much time to make changes to the budget that is about to be presented this month.
"What we, the Bahamas Motor Dealers Association, would like is for the government to review with a view to reducing the import tax rate on commercial vehicles. Commercial vehicles had their rate increased to 85 percent, which is very high. Commercial vehicles are important to the economy, as they ferry goods back and forth for the consumer."
The auto tax increases that were introduced two years ago also included an 85 percent duty on vehicles with engines greater than 2,500 c.c., a 75 percent duty on vehicles less than 2,500 c.c. but greater than 2,000 c.c., and a 65 percent duty on vehicles less than 2,000 c.c.
The vehicle duties dealt a blow to the auto dealers, as several local companies admitted that they saw a drop in new car sales. It also enabled the used vehicle market to capitalize, an element that doesn't foster economic improvement.
"The used vehicle market increased considerably, which is not good for the public treasury," he said.
"We have advocated an age limit on used vehicles being imported into the country. This has happened in other markets in the Caribbean so as to stem the large inflows of used vehicles. These used vehicles do not contribute very much to the economy and become derelict, abandoned vehicles in short order. This contributes to the environmental impact on the nation with used tires, batteries, oils and scrap metal."
The benefits of an age limit on used vehicles, according to the BMDA head, include enabling the government to enhance its revenue base and bring in environmental-friendly autos and more fuel-efficient transportation, which allow for more savings at the pumps.
Albury added that other Caribbean countries have a four-year age limit on used vehicles, and it could work in The Bahamas and filter out underhanded practices.
"There is a lot of corruption with the used vehicle imports with undervaluing of invoices for paying of taxes," Albury said. "Once this is done and if more revenue is realized from this age restriction then maybe a reduction in the import taxes on new vehicles can be looked at."
As far as what Albury believes would be an ideal import tax system, he said one that promotes more fuel-friendly autos would be effective.
"I personally prefer an import tax system that encourages the use of smaller engines and fuel-efficient engines," he said. "In comparison to some of our neighbors in the Caribbean, we are still reasonable with our import rates. Maybe one day a value added tax (VAT) whereby every time a vehicle changes hands, then the government will realize a form of tax but at the lower end, would work."