Global Ports Holding PLC on Thursday said it has commenced cruise port operations in Antigua following a completion of all final conditions to do so, including reaching financial close.
The cruise port operator said it will now use its global expertise and operating model to manage the operations in St John’s port. Global Ports said it expect to bring “meaningful” change to the cruise port experience and cruise tourism in Antigua and Barbuda, to the benefit of all stakeholders.
The company said it also intends to work in partnership with local operators to enhance shore excursion opportunities and will support local efforts to regenerate tourist attractions in the destination.
The expected total initial investment in the first 12 months of operation will be between USD45 million and USD50 million, Global Ports said, including repayment of the existing bond, completion of new pier construction and investment into the retail facilities. GPH’s cash equity contribution is set at 27.5%, with annual revenue in year one is currently expected to be USD8 million.
“The commencement of this agreement is a significant milestone for Global Ports and is a further endorsement of our operating capabilities and the benefits that our stakeholder partnership approach can bring to cruise destinations, passengers and the local population,” said Chief Executive Emre Sayin.
Global Ports shares were trading 0.8% higher in London on Thursday at 297.88 pence each.
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CONGRATULATIONS on this VENTURE.Blessings.
Notes From A Native Son Of The Rock! In this the International Decade For People of African Descent 2015 -2024, “Debt is a cleverly managed reconquest of Africa.” – Capitaine Thomas Isidore Noël Sankara, The Upright Man, revolutionary, pan-Africanist, and assassinated President of Burkina Faso from 1983 to 1987 – from the Caribbean to the Lucayan Archipelagos!
“A People that is solely dependent upon another for economic existence sooner or later dies. As we have in the past been living upon the mercies shown by others, and by the chances obtainable, and have suffered there from, so we will in the future suffer if an effort is not made now to adjust our own affairs.” Marcus Mosiah Garvey Jr., founder and first President-General of the Universal Negro Improvement Association and African Communities League!
From Port Infrastructure Building to Facilities and Operations Management To Majestic Floating Hotels and their ownership of Islands of Tourism Hospitality all across the Caribbean and Lucayan Archipelago, when will this political, economic, socio-cultural, technological, legal and ecological paradigm change! Lest We Remember GPH trades on the London Stock Market! Note Bien! The “sandaled Buccaneer” has modeled its management practices on the old colonial model which clearly says that the Directorship Capacity is not within or to be trusted! Too Late Too Late will be The Cry!
“There is, in (The English Speaking Caribbean) a division of labour which says that the black community will occupy and control the politics and the white (North Atlantics, Arab and Chinese) elite will control the economy…All of us as citizens of (these Caribbean and Lucayan SIDS) have to examine this model and transform it. It has to be transformed in order to fulfil the vision if our ancestors in General Bussa’s (King Court) time, General Greene(Hannibal) and Clement Payne (Adams,VC Bird, Crompton, Manley, Pindling),” – Prof. Dr. Hilary Beckles, Chairman of the CARICOM Reparations Commission (CRC) and Vice Chancellor of the University of the West Indies (UWI)!
A few days ago, Royal Caribbean and Carnival, executed an agreement with the St. Lucia Government where the two cruise giants will work together to manage Saint Lucia’s existing cruise pier and terminal in Castries where the POrt Tax is $5.00 US — and design, construct and operate a new cruise port on the island at Vieux Fort!
“God does not… give people positions or jobs or… good conditions such as they desire; they must do that for themselves.. God does not build cities nor towns nor nations, nor homes, nor factories; men and people do that and all those who want must work for themselves and pray to God to give them strength to do it.” – Marcus Garvey!
Such seamless transfer of management. Could only happen by experience people. And now lets sit back and enjoy the growth of this sector. Forward together Antiguans.
Notes From A Native Son Of The Rock! “A People that is solely dependent upon another for economic existence sooner or later dies. As we have in the past been living upon the mercies shown by others, and by the chances obtainable, and have suffered there from, so we will in the future suffer if an effort is not made now to adjust our own affairs.” Marcus Mosiah Garvey Jr., founder and first President-General of the Universal Negro Improvement Association and African Communities League!
Why do you think the article touts Chief Executive Emre Sayin! Until and unless these contracts clearly identify Technology Transfer strategies, initiatives and targets, you will be like the lobster in the pot as the water goes from cold to boiling! Who is the Managing Director!
“Then the one who had received the one talent came and said, ‘Sir, I knew that you were a hard man, harvesting where you did not sow, and gathering where you did not scatter seed, so I was afraid, and I went and hid your talent in the ground. See, you have what is yours.’ But his master answered, ‘Evil and lazy servant! So you knew that I harvest where I didn’t sow and gather where I didn’t scatter? Then you should have deposited my money with the bankers, and on my return I would have received my money back with interest! Therefore take the talent from him and give it to the one who has ten. For the one who has will be given more, and he will have more than enough. But the one who does not have, even what he has will be taken from him. And throw that worthless slave into the outer darkness, where there will be weeping and gnashing of teeth.’ — Matthew 25:24–30, New English Translation!
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