March 25, 2020
Arawak Cay port
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‘Grave bearing’ for shipping’s safety
The Nassau Container Port’s top executive yesterday called for long-needed repairs to the harbour’s breakwaters to become a high-priority item given the “grave bearing” for shipping safety.
Port’s profits to decline 7% despite pre-COVID bounce
Nassau’s major commercial shipping port is forecasting a 7 percent year-over-year profit decline for 2022 despite predicting container volumes will return to pre-COVID levels in the first quarter.
Port beats revenue forecasts by $1.5m
Nassau’s major commercial shipping port beat its original revenue forecast by almost $1.5m for its 2021 financial year, although profits declined by 7.7 percent year-over-year.
Port’s $31m refinance eliminates tariff rises
Nassau’s major cargo port says it has eliminated the possibility of any tariff rate increase by agreeing a refinancing of its near-$31m preference share debt that will slash interest costs by some $4.5m.
Arawak port predicts 20% profits plummet
New Providence's major commercial shipping port is projecting a near-20 percent year-over-year profit decline for its current financial year as COVID-19 depresses demand for cargo imports.
Port profits off 34% amid signs of grim retail Xmas
Nassau's major commercial shipping port yesterday revealed profits slumped by 34 percent during the three months to end-September as it detected further signs of a grim Christmas for retailers.
Port's profits slump 65% during COVID
Nassau's main commercial shipping port suffered a 65 percent or $3m year-over-year profits slump during the first five-and-a-half months of the COVID-19 crisis, its top executive revealed yesterday.
Port's 50% tariff slash 'for masses, not few'
Nassau’s main commercial shipping port yesterday pledged that slashing all tariff rates by 50 percent for the next month will ease the COVID-19 pain for “the masses rather than the select few”.
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