Group wants to fund cruise port in exchange for management

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A group known as Global Ports has made a bid to improve port facilities at in exchange for overall management of the facilities.

They told Cabinet of their intention to provide financing to expand the cruise port’s fifth berth, to enable the OASIS class vessels to dock in Antigua.

The group offered to provide financing, all totaling more than US$76 million dollars, to enable the landside arrival to be more pleasant and more enjoyable for the arriving cruise passengers, as a new wharf is constructed south and east of Point Wharf; a boardwalk will connect all piers all the way across to Redcliffe Quay.

According to the proposal new shops and other facilities will be added to match any destination in the Caribbean.

“The group also plans to increase significantly the number of cruise vessels that will call at Antigua and, hence, the number of cruise passengers arriving,” according to a Cabinet statement.

It will also diversify the source of the passengers.

But the in exchange, the group will become the managers of the port, superseding the St. John’s Development Corporation and the other groups that currently contribute management to the port.

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9 COMMENTS

  1. http://www.globalportsholding.com/news-details/119/gph-port-destinations-win-cruise-awards
    Although the details are not known as yet, I think this is the beginning of great things to come. Antigua will with this group surpass every other cruise ship port in the Caribbean in no time. And the investment that they bring. I mean what else can we ask for. Now we need to work hard on making Home porting a reality. Which will also mean we will have an influx of flights coming into Antigua.
    People catch the vision and live the dream. We are on the road of becoming an economic powerhouse if this deal comes through.

  2. Is this the same Puppet Master that was against privatization of the people assets like SIC? I guess the ABLP do and say alot of things in opposition. When the dictator finish with Antiguans all of the people patrimony will be given away. I am not sorry at all for Antiguans notice I left off Barbudans because they are fighting to keep their lands.

    • Privatization means you are selling it. It will no longer be yours. Having a management arrangement on the other hand simply means you are managing it on my behalf. Both of us profit from it. You bring your experience and your capital, but the asset remains mine. Is that so difficult to understand. It is a win win situation in any which way you look at it. Wish we had a similar arrangement with the airport. than we didn’t had that debt around our neck. Now all our revenues from the airport are tide up to paying back the loans. And given that we cannot attract new airline business that easily we will soon be defaulting on that loan.

  3. Be wary of proposed monopoly… Where exactly is that carrot on a string leading? All that glitters is not gold.

  4. This is exactly the same thing that was proposed during the tenure of the previous administration when a US company proposed to upgrade and manage the VC Bird Airport. I seem to remember that those in power now were vehemently against it and termed it giving away our patrimony. The only difference I see here is that this agreement seem to be open ended while the previous was a set time when the Airport would have been handed back to the people with all the upgrades. This lack of clarity about who will own the port and for how long is rather troubling.

    • Perhaps the previous administration Miss Patriot didn’t do a good job in selling the projects and when you are in government you must know that the Opposition will oppose for apposing sake but if you stand strong and know that what you do is right you proceed because the ayes have it. But what you actually end up doing is madness. Having a loan of 13 % without an out clause and on top of that now a Chinese loan as well. And since the detail of this proposal are still not known how can you say that it is open ended. Just wait till the details are made public. Don’t eat your heart out so fast.

    • http://www.globalportsholding.com/about
      Global Ports Holding Plc is the world’s largest cruise port operator with an established presence in the Caribbean, Mediterranean, Asia-Pacific regions, including extensive commercial port operations in Turkey and Montenegro.

      Global Ports Holding (GPH) was established in 2004 as an international port operator with a diversified portfolio of cruise and commercial ports. As an independent cruise port operator, the group holds a unique position in the cruise port landscape, positioning itself as the world’s leading cruise port brand, with an integrated platform of cruise ports serving cruise liners, ferries, yachts and mega-yachts. GPH operates 17 ports in 9 countries and continues to grow steadily. GPH provides services for 7,3 million passengers reaching a market share of 24% in the Mediterranean annually. The group also offers commercial port operations which specialize in container, bulk and general cargo handling.

      A portfolio of award-winning ports and terminals allows GPH to transfer best practices to its subsidiaries. With a strong focus on operational excellence, enhanced security practices and customer-oriented services, GPH aims to contribute to the development of the cruise industry.

      Global Ports Holding Plc is 65.63% owned by Global Ports Holding B.V., which is a wholly owned subsidiary of Global Investment Holdings (GIH) – listed on Borsa Istanbul (BIST) under the ticker “GLYHO”. The remaining 34.37% of the total issued share capital represents free float on the London Stock Exchange (LSE).

  5. http://www.jamaicaobserver.com/latestnews/Govt_to_sign_off_on_concession_for_NMIA_tomorrow?profile=1228#disqus_thread

    I guess Jamaica is seeing the same thing I am seeing.
    Mr. PM please look for a proper airport manager. Our airport need many more airlines to come visit. We just do not have the leverage to bring any more airlines here in a short time and our moratorium will soon expire and then China will tale over the running of the airport when we cannot pay them

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