Report reveals Matthew's financial impact on GB

Wed, Nov 9th 2016, 10:08 AM

The impact of losses incurred across Grand Bahama's industrial and tourism sectors as a result of Hurricane Matthew were revealed in a financial damage assessment report on properties and companies owned by Hong Kong-based investment holding company Hutchison Whampoa.

The report noted that the Bahamas Celebration cruise ship will not return until February 2017, Freeport Container Port's throughput result for October 2016 is 79 percent below budget, the container port's new cranes won't arrive until mid-2018, and some of the airlift to the island has been impacted.

Prime Minister Perry Christie tabled the report while speaking in the House of Assembly yesterday.

The report was received from the adjuster on November 3 and includes damage and recovery assessments of the Freeport Harbor Company (FHC), Freeport Container Port (FCP) and the Grand Bahama Airport Company (GBAC).

Christie said Hutchison's project director has been appointed and is currently on-site working to identify and appoint contractors to proceed with necessary repairs. He added that quantity surveyors have also been appointed and will arrive on Grand Bahama next week to begin the repairs.

Christie also addressed the reopening of Memories Grand Bahama Beach & Casino Resort.

"Memories and the casino will be the first buildings to be restored. I am advised that contractors are on-site looking at the facilities and within the next week management will be in a better position to give a more realistic completion date," said Christie.

Cruise lines
The report indicates that all cruise lines will be returning but at various dates, with the exception of those that are already back in operation.

The Bahamas Celebration is not scheduled to return until February 2017 and all cruises have been diverted to Bimini due to the temporary closure of the Grand Lucayan and other tourist attractions like Port Lucaya Marketplace, according to the report.

Norwegian Cruise Lines (NCL) has confirmed to return to Freeport on November 22, 2016 and Carnival Cruise Lines (CCL) indicated that it would resume cruise operations as of yesterday, the report explains.

Balearia continues its daily schedule and "passenger levels remain strong as individuals travel to the U.S. for relief supplies", the report notes.

Airlift
Although the report states that Sunwing Airlines suspended its flights from the United States indefinitely, Christie said he has appealed to Sunwing to restore its suspended flights "as soon as the necessary repairs have been carried out with a view to reopening for the winter season".

However, Sunwing's Canadian flights are expected to commence on December 21, 2016.

Delta is expected to increase flights to five days per week during the first or second week in November.

American Airlines reduced to one flight daily but is now back up to three. "Their RON (remain over night) flight suspended due to the runway lights' temporary absence," the report states.

Bahamasair now has one daily flight to Fort Lauderdale and Silver Airways' schedule returned to its normal two flights per day, the report adds.

Cranes
FCP experienced a 60 percent reduction in crane capacity. The report mentioned the diverted volumes of commercial cargo: 50 percent to Punta Caucedo, Dominican Republic; 10 percent to Kingston, Jamaica and 40 percent to Panama.

Crane numbers eight and 11 have returned to service and currently operate from berth three. Crane number nine was scheduled to return yesterday. Crane number seven is still under assessment.

However, crane numbers three, four, five and six will not be repaired but instead replaced with three new Super Post Panamax cranes. The estimated delivery of the new cranes is mid-2018, according to the report.

Xian Smith, Guardian Business Reporter

Click here to read more at The Nassau Guardian

 Sponsored Ads