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Spending Boost From Cruise Port Upgrade

By NATARIO McKENZIE

Business Reporter

nmckenzie@tribunemedia.net

THE redevelopment of Nassau's cruise port will provide deliver greater value that increases spending by cruise passengers, the Bahamas Chamber of Commerce's chairman said yesterday.

Michael Maura, who is also Arawak Port Development Company's (APD) chief executive, said that with several prominent cruise destinations in the eastern Caribbean having been impacted by hurricanes last year, the Bahamas has been presented with an opportunity.

"The cruise ships will have to find a place to visit, and we have an opportunity to capitalise on that. A year or two out those same ports will have a facelift, so we have to ensure that we are improving Prince George Wharf so that when our competitors get a facelift we will remain competitive," he said.

As reported by Tribune Business late last year, the world's largest cruise port operator, UK-based Global Ports Holding, is in talks with the Government to take over management and operations at downtown Nassau's Prince George Wharf.

BISX-listed Arawak Port Development Company (APD) is its potential joint venture partner. The two companies planned to add "additional berths and facilities" to the Bahamas' busiest cruise port if they receive the go-ahead from government. "There is a need to redevelop Prince George Wharf but, at the same time, you have over 90 cruise ships coming out of shipyards over the next four to five years, and over a third of them will be earmarked for the Caribbean," Mr Maura said. "The fact is ships are getting bigger. What we are looking at is expanding Prince George Wharf to be able to handle the larger ships. By redeveloping the property itself we can add greater value to our guests, the cruise passengers, which will get them to dig into their pockets and spend more money. "If we can create interest and value around our cruise industry - excursions getting larger ships, not 30 of the same jewellery stores and 20 of the same t-shirt stores, but creating additional experiences. We are very interested in that. APD is a very successful cargo operator, and we want to expand and grow, and getting into the cruise business is an opportunity for us."

Comments

proudloudandfnm 2 years, 1 month ago

I swear! If the FNM gives the Moskos and Symonettes ANOTHER monopoly I WILL NEVER VOTE FNM AGAIN. ENOUGH! Create some new millionaires! STOP ENRICHING THE SUPER RICH!!!

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Voltaire 1 year, 7 months ago

@proudloudandfnm - I must disagree with the premise of your argument. Projects that stand to have a positive impact on the public generally should be given to whomever is best at it. Not saying that the Symonettes are in this particular case, just speaking generally. Some people end up or remain super rich because they are good at what they do and insofar as Bahamians generally stand to benefit financially in the long run, I don't mind that the rich also get richer. Our problem for years has been exactly what you are suggesting: artificially create new rich people because it is their 'turn', like this is a schoolyard game or something. This leads to incompetence, poor performance and disastrous economic consequences because those people do not qualify. If they did, they would be super rich already. Our call should be: STOP TRYING TO ARTIFICIALLY CREATE RICH PEOPLE! THE BEST MAN FOR THE JOB ALWAYS!

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