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RCL wishes they can put the Hog back in Hog Island!

Wed, Apr 26th 2023, 10:15 AM
Business Finance

RCL have attempted the following ownership projects in The Bahamas:

• Purchase of private/residential zoned land on Paradise Island.
• Co-tendered for the ownership and operation of the Nassau Cruise Port.
• Co-owner of Grand Bahama Shipyard: employing foreign workers.
• Grand Lucayan Purchase 1.0 costing Bahamians millions in carry costs. 
• Grand Lucayan Purchase 2.0 “bad deal for Bahamians” Costing Bahamians further millions in carry costs, while RCL wish Bahamians to finance them, commencing late next decade.
• Grand Lucayan Purchase 3.0 presently involved.
• Royal Beach Club Bahamian Crown Land Paradise Island: where RCL is seeking Bahamians to finance their majoring owned venture.
• Rum Cay.
• Little Stirrup “Coco Cay”: All Bahamian Crown Land.

Royal Caribbean Cruise Lines, whose share price is down ~50% in the past five years, is ~$24,000,000,000.00 in debt and with a current market cap of double the whole Bahamas’ GDP. They control a vast percentage of the Bahamian economy quietly and export the revenues generated in the Bahamas, however, are mum in quantifying how much they control and export. What reach does the Bahamian government have in ascertaining and quantifying the huge revenues Royal Caribbean Cruise Lines generate in our country for the benefit of others?

The money is made in the Bahamas from our natural resources, for the benefit of their foreign bosses, shareholders and bonuses, etc. According to Yahoo Finance Michael Bayley, CEO made ~$15,000,000.00 in 2021: of course he’s going to say it’s a “win, win, win, win”…. All the way to the bank!

Michael Bayley publicly stated on our national radio station that “we have applied for Bahamian passports”, many Bahamians take exception to this and it circumvents the regulation that protects certain industries including retail and water sport excursions for Bahamians.

Foreign Owned Cruise Line “Private destinations”.

• MSC: Ocean Cay.
• Disney: Castaway Cay.
• Royal Caribbean Cruise Lines: Little Stirrup “Coco Cay”
• Carnival: Grand Bahama.
• Carnival Cruise Lines: Princess Cay.
• Carnival Cruise Lines/Norwegian Cruise Line: Half Moon Cay.
• Norwegian Cruise Lines: Great Stirrup Cay.
• Long Island… in construction.
• Royal Caribbean Cruise Lines: Scouting Rum Cay.
• Virgin Voyages: Bimini
•  Day at sea.

There is no regulation or law that protects Nassau as a mandatory port of call, so as consecutive government administrations allow these Cruise Lines to lease Bahamian Crown Land, operate with foreign workers off their ships, enjoy duty exemptions to build something that does nothing to embrace Bahamian culture and leaves jobs for Bahamians to clean toilets and pick up trash.

So Nassau and Grand Bahama are the only two ports where Bahamians not only can but have to compete against each other, while the Cruise Lines have eleven destinations where they make all the revenues for themselves, exclusively. Does that sound like fair or equal for Bahamians?

Verses two ports for the benefit of Bahamians:

• Freeport: controlled and operated by the Port Group and Hutchinson.
• Nassau: majority controlled by foreign owned Global Ports.

RCL refer to having hired 350 Bahamians since 2019, according to their published documents, while employing 112,500 people across the whole company: 0.3% of their whole staff were/is Bahamian, yet they say the Bahamas is their number one destination. How does that translate into their revenues? As of the 31/12/22 RCL’s revenue was reported at $8,840,540,000.00; how much of that total revenue was generated by their “number one destination” of the Bahamas? Since RCL do not make public the individual revenue streams, for arguments sake, imagine 50% their revenues being made in the Bahamas at $4,400,270,000.00 while having 0.3% “hired” Bahamians. How is 50% of revenues equality for 0.3% Bahamian employees and zero Bahamian ownership? 

• Do you know if the Cruise Lines have their casinos and retail stores open while at the dock? Are they in compliance with the Gaming Act? I welcome people to read the Gaming Board Act Cruise Ships Overnighting Incentives Act.
• Do you know how many Bahamian owned tourism projects are stalled in the Government pipeline that will create thousands of Bahamian jobs and keep tourist spending in The Bahamas?
• Do you see that the Cruise ships no longer over night in Grand Bahama and Nassau? So no nightlife or casinos in Nassau or Grand Bahama are supported.
• Why is it that cruise lines unload their workers to work on these Bahamian destinations without work permits? Competing against Bahamians, what is wrong with Bahamians according to RCL?
• How come cruise ship workers can work on Bahamian cays and not have to pay National Insurance?
• How much trash is burnt by these cruise lines on the cays, fouling the air that we breathe and burdening our land-fill sites?
• How much exhaust emissions and scrubber water do cruise lines put into the Bahamian air and ocean each year? 
• If the cruise lines depart from Florida, only traverse Bahamian waters and return to Florida, why can’t Bahamians be furnished with their dumping records with full disclosure?
• How many times have cruise ships intentionally and illegally dumped in Bahamian waters?
• Why aren’t Bahamians getting the lion’s share? What are you prepared to do about it?
• When will the point be reached where the ecology is destroyed and the ships haul anchor and leave to repeat their game plan elsewhere?
• Cruise passengers are not allowed to consume liquor purchased from local liquor stores while on board their ships, does that explain the downfall of the Bahamian owned liquor stores downtown?

The cruise lines will say they’re bringing millions of passengers into the Bahamas, but a cruise that does not stop off in Nassau or Grand Bahama does not benefit Bahamians. This is the reason why downtown is deplorable; if the money comes in and goes straight back out: it doesn’t circulate our economy. Cruise Lines taking the majority of excursion revenues should be halted.

Bahamian owned destinations will keep the revenues generated in The Bahamas, in the Bahamas and circulating our local economy many times, throughout our banks, wholesalers, retailers, service providers and families. When will Bahamians be given a chance? When will Bahamians be put FIRST?

Sincerely yours,

Captain Toby C.S. Smith.CEO.

 

RCL have attempted the following ownership projects in The Bahamas:
• Purchase of private/residential zoned land on Paradise Island.
• Co-tendered for the ownership and operation of the Nassau Cruise Port.
• Co-owner of Grand Bahama Shipyard: employing foreign workers.
• Grand Lucayan Purchase 1.0 costing Bahamians millions in carry costs. 
• Grand Lucayan Purchase 2.0 “bad deal for Bahamians” Costing Bahamians further millions in carry costs, while RCL wish Bahamians to finance them, commencing late next decade.
• Grand Lucayan Purchase 3.0 presently involved.
• Royal Beach Club Bahamian Crown Land Paradise Island: where RCL is seeking Bahamians to finance their majoring owned venture.
• Rum Cay.
• Little Stirrup “Coco Cay”: All Bahamian Crown Land.
Royal Caribbean Cruise Lines, whose share price is down ~50% in the past five years, is ~$24,000,000,000.00 in debt and with a current market cap of double the whole Bahamas’ GDP. They control a vast percentage of the Bahamian economy quietly and export the revenues generated in the Bahamas, however, are mum in quantifying how much they control and export. What reach does the Bahamian government have in ascertaining and quantifying the huge revenues Royal Caribbean Cruise Lines generate in our country for the benefit of others?
The money is made in the Bahamas from our natural resources, for the benefit of their foreign bosses, shareholders and bonuses, etc. According to Yahoo Finance Michael Bayley, CEO made ~$15,000,000.00 in 2021: of course he’s going to say it’s a “win, win, win, win”…. All the way to the bank!
Michael Bayley publicly stated on our national radio station that “we have applied for Bahamian passports”, many Bahamians take exception to this and it circumvents the regulation that protects certain industries including retail and water sport excursions for Bahamians.
Foreign Owned Cruise Line “Private destinations”.
• MSC: Ocean Cay.
• Disney: Castaway Cay.
• Royal Caribbean Cruise Lines: Little Stirrup “Coco Cay”
• Carnival: Grand Bahama.
• Carnival Cruise Lines: Princess Cay.
• Carnival Cruise Lines/Norwegian Cruise Line: Half Moon Cay.
• Norwegian Cruise Lines: Great Stirrup Cay.
• Long Island… in construction.
• Royal Caribbean Cruise Lines: Scouting Rum Cay.
• Virgin Voyages: Bimini
• Day at sea.
There is no regulation or law that protects Nassau as a mandatory port of call, so as consecutive government administrations allow these Cruise Lines to lease Bahamian Crown Land, operate with foreign workers off their ships, enjoy duty exemptions to build something that does nothing to embrace Bahamian culture and leaves jobs for Bahamians to clean toilets and pick up trash.
So Nassau and Grand Bahama are the only two ports where Bahamians not only can but have to compete against each other, while the Cruise Lines have eleven destinations where they make all the revenues for themselves, exclusively. Does that sound like fair or equal for Bahamians?
Verses two ports for the benefit of Bahamians:
• Freeport: controlled and operated by the Port Group and Hutchinson.
• Nassau: majority controlled by foreign owned Global Ports.
RCL refer to having hired 350 Bahamians since 2019, according to their published documents, while employing 112,500 people across the whole company: 0.3% of their whole staff were/is Bahamian, yet they say the Bahamas is their number one destination. How does that translate into their revenues? As of the 31/12/22 RCL’s revenue was reported at $8,840,540,000.00; how much of that total revenue was generated by their “number one destination” of the Bahamas? Since RCL do not make public the individual revenue streams, for arguments sake, imagine 50% their revenues being made in the Bahamas at $4,400,270,000.00 while having 0.3% “hired” Bahamians. How is 50% of revenues equality for 0.3% Bahamian employees and zero Bahamian ownership? 
• Do you know if the Cruise Lines have their casinos and retail stores open while at the dock? Are they in compliance with the Gaming Act? I welcome people to read the Gaming Board Act Cruise Ships Overnighting Incentives Act.
• Do you know how many Bahamian owned tourism projects are stalled in the Government pipeline that will create thousands of Bahamian jobs and keep tourist spending in The Bahamas?
• Do you see that the Cruise ships no longer over night in Grand Bahama and Nassau? So no nightlife or casinos in Nassau or Grand Bahama are supported.
• Why is it that cruise lines unload their workers to work on these Bahamian destinations without work permits? Competing against Bahamians, what is wrong with Bahamians according to RCL?
• How come cruise ship workers can work on Bahamian cays and not have to pay National Insurance?
• How much trash is burnt by these cruise lines on the cays, fouling the air that we breathe and burdening our land-fill sites?
• How much exhaust emissions and scrubber water do cruise lines put into the Bahamian air and ocean each year? 
• If the cruise lines depart from Florida, only traverse Bahamian waters and return to Florida, why can’t Bahamians be furnished with their dumping records with full disclosure?
• How many times have cruise ships intentionally and illegally dumped in Bahamian waters?
• Why aren’t Bahamians getting the lion’s share? What are you prepared to do about it?
• When will the point be reached where the ecology is destroyed and the ships haul anchor and leave to repeat their game plan elsewhere?
• Cruise passengers are not allowed to consume liquor purchased from local liquor stores while on board their ships, does that explain the downfall of the Bahamian owned liquor stores downtown?
The cruise lines will say they’re bringing millions of passengers into the Bahamas, but a cruise that does not stop off in Nassau or Grand Bahama does not benefit Bahamians. This is the reason why downtown is deplorable; if the money comes in and goes straight back out: it doesn’t circulate our economy. Cruise Lines taking the majority of excursion revenues should be halted.
Bahamian owned destinations will keep the revenues generated in The Bahamas, in the Bahamas and circulating our local economy many times, throughout our banks, wholesalers, retailers, service providers and families. When will Bahamians be given a chance? When will Bahamians be put FIRST?
Sincerely yours,
Captain Toby C.S. Smith.
CEO.
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