#Nassau, April 11, 2019 – Bahamas – BISX-listed Arawak Port Development Ltd. (APD), which has been heralded as “an example The Bahamas should be proud of” by the Inter-American Investment Corporation, celebrated ten years as a pioneer in the commercial shipping industry in February.
The formation of APD in 2009, which owns and operates the Nassau Container Port (NCP) and Gladstone Freight Terminal, marked the establishment of the first commercial maritime public-private partnership (PPP) in The Bahamas and provided a blueprint for similar projects to be developed across the country. One of the most significant terms of the historic project agreement was that it was the first to offer ownership shares to public servants to help make more Bahamians owners of a larger portion of the economy.
Mike Maura, Jr., President & Chief Executive Officer of APD, recalled the significant impact of the launch of this important venture. “The incorporation of APD was a landmark event. The idea of moving the commercial shipping port out of downtown had been pursued by successive political administrations for many years.
One of the central issues that we were facing at the time was that the shipping operations on Bay Street were in direct conflict with a major part of the country’s tourism and retail sector, which negatively affected the area’s stakeholders and even national revenues. Through extensive collaboration between various government entities and other parties, we were finally able to make it happen.”
“The
ownership structure under the PPP is very clear – The Government of the Bahamas
invested $20 million for 40% stake in the company; twenty corporate shipping sector
stakeholders invested $20 million for another 40% equity through Arawak Cay
Port Development Holdings Ltd.; and the remaining 20% is fully owned by over
11,000 Bahamian public investors through their subscriptions to the $10 million
IPO we offered in 2012. Since the IPO, the company’s share price has traded on
BISX by as much as 74.3% over the initial offer price, establishing APD as one
of the best infrastructure investments in The Bahamas to date.”
Dion Bethell, Vice President & Chief Financial Officer of APD, reflected on the financial performance of the company and other achievements earned over the years. “The benefits to the development of our country and our community since the inception of the company have been substantial. As the single largest government revenue collection point in the country, the Nassau Container Port plays a critical role in The Bahamas’ fiscal management.
Furthermore, the creation of APD has provided the government with a new income stream, contributing in excess of $35 million to the public treasury since 2012, with approximately $7 million of that number generated in 2017 alone. We’ve also donated over $350,000 to 150 charities and non-profit organizations. Over 400 Bahamians work at NCP, so it’s important for us to be socially responsible and to promote community involvement because we are the community. ”
Mr.
Bethell continued, “Many of our team members are recognized internationally as
industry experts. In fact, in recent years, APD employees have been called upon
to make presentations on public infrastructure, container shipping, port
operations, and public-private partnerships at many global conferences. We’ve
also been recognized by international associations for our efficiency and
reliability – we were ranked as the number one port in Port Efficiency by the
Caribbean Development Bank in May 2016 and received the award for the Most
Reliable Port by the Caribbean Shipping Association in October of that year.”
Mr.
Maura shared his appreciation for his team, stating, “We are extremely proud of all we’ve
accomplished over the last ten years and the impact that our Bahamian team has
had on the regional maritime sector. It
is my sincere pleasure to thank the employees of APD Ltd., our shipping
partners, the men and women which work tirelessly every day in our maritime space
and each of the various government agencies who have supported us on this
journey. I must make special mention of the 10-year partnership with Bahamas
Customs and the Ministry of Finance which has directly influenced the port’s
success. Through their diligence and commitment, APD has become an
internationally-renowned model for excellence in port operations and commercial
shipping. We are among the best and the brightest in the world, and we’re delighted
and grateful to be able to say that.”
Over the next few months, APD will host a series of events and activities to educate the public about the necessary and valuable role of the many maritime stakeholders that support its operations. These include agencies involved in environmental protection & management, international & domestic shipping, national and border security, health & safety, road safety, and trade & commerce.
These initiatives will also help the public understand more about operations at Nassau Container Port, emerging careers in the field, and how the work of the port and maritime community impacts our economy and the lives of everyday Bahamians.
Nassau, The Bahamas, October 22, 2026 — The National Computer Incident Response Team of The Bahamas (CIRT-BS) has issued a cybersecurity advisory warning businesses, government institutions and other organisations about the growing threat posed by Akira ransomware, a cybercriminal operation capable of stealing sensitive information, disrupting networks and demanding ransom payments.
Active since March 2023, Akira operates through a Ransomware-as-a-Service model, with affiliates exploiting weaknesses in computer networks to gain unauthorised access.
Once inside, attackers can steal confidential data, disable recovery systems and encrypt files, preventing organisations from accessing critical information.
Particularly concerning is Akira’s use of double extortion, threatening to publish stolen information unless victims pay. Some attacks involve data theft without encryption.
The October 22 advisory identifies vulnerabilities involving Cisco and SonicWall firewalls, VPN services, Microsoft Remote Desktop Protocol, Veeam backup systems and outdated Windows and Linux operating systems. VMware ESXi and Nutanix AHV environments are also potential targets.
Attackers may exploit unpatched software, stolen login credentials and inadequately secured remote-access applications, including AnyDesk and RustDesk.
Warning signs include unexpected administrator accounts, unusual remote logins, unauthorised software installations, suspicious backup activity, mass file changes and ransom notes.
Organisations should also remove unnecessary internet exposure of remote desktop services, limit administrative privileges and regularly test backup restoration.
The advisory does not identify any confirmed Akira attack against a Bahamian organisation but highlights vulnerabilities that could expose institutions to serious financial and operational disruption.
Cybersecurity incidents can be reported to CIRT-BS at soc@cirt.bs or through its official website.
NASSAU, The Bahamas – The Bahamas’ Minister of Energy, Utilities and Aviation, The Honourable JoBeth Coleby-Davis, delivered an electrifying address during the opening ceremony of the 2026 CARILEC Resilient/Renewable Energy Community (CAREC) Conference and Exhibition, being held October 18–22, 2026, at the British Colonial Hotel in Nassau, The Bahamas.
Under the theme “Empowering Progress: Strategic Policy and Planning for the Energy Transition,” the event draws more than 200 industry leaders, policymakers, regulators, and energy professionals committed to advancing practical strategies for sustainable and reliable Caribbean power systems through renewable energy and emerging technologies.
During her address, titled “The New Energy Era: Transforming Policy into Progress,” Minister Coleby-Davis reminded attendees that The Bahamas’ national motto, “Forward, Upward, Onward, Together,” aptly describes what the region’s energy transition demands.
“Empowering Progress speaks directly to our national motto. Not waiting for progress, but creating the conditions that allow progress to happen. Meaningful progress, however, does not occur by accident. It requires vision, sound policy, strategic planning, strong institutions, and the determination to turn decisions into results,” said Minister Coleby-Davis.
Participants acknowledged that small island developing states share similar pressures, compounded by geographical challenges, small electricity markets, ageing infrastructure, geopolitical influences, and the growing threat of severe weather.
Tasked with ushering in a new energy era across the islands while addressing the challenges posed by The Bahamas’ unique archipelagic composition, Minister Coleby-Davis said, “Every island needs a different answer, but the same logic. As an archipelagic nation, we must provide electricity across many islands, each with its own demand and infrastructure needs. Our strategy, therefore, must be national in direction, but responsive to individual communities.”
Restating her Ministry’s three core messages—that energy is an economic and security priority, technology must be viewed as a tool to support strong institutional leadership, and natural gas should be considered a bridge, not a destination—Minister Coleby-Davis reiterated that “progress must now be reflected in functioning infrastructure, effective institutions, and better electricity services: from policy commitments to coordinated implementation, and from fragmented investment decisions to long-term planning.”
Organised by CARILEC and co-hosted by Bahamas Power and Light (BPL) and Grand Bahama Power Company (GBPC), the annual Conference and Exhibition brings together the Caribbean energy community to advance practical solutions to the region’s most pressing energy challenges and accelerate progress towards more resilient, reliable, and sustainable power systems.
By Eric Carey, ONE Consultants, former Executive Director of the Bahamas National Trust.
We are facing an extraordinarily important moment in judicial history in The Bahamas as we await a decision on the trial of allegations in the Yntegra group’s Rosewood Exuma project.
As former Minister of the Environment, Romauld Ferreira, put it in the Supreme Court last week: “A lot is at stake…a great deal of what will be considered in this case sets the stage for what’s to come for future development in the country.”
In the trial of the judicial review of government approvals given to Yntegra for their Rosewood Exuma resort this week, we’ve heard technical arguments about failure to make key environmental documents like Yntegra’s Environmental Impact Assessment and Environmental Management Plan available to the public, failure of key documents to assess some of the most controversial aspects of the project, an unlawful consultation process, and a failure to conduct further consultation following major changes to the development.
Lawyers for Turtlegrass described how there was a “salami slicing” of the project into chunks as a way to circumvent the approvals process and disguise its full impact from public scrutiny. Only certain portions came before the public and key stakeholders like Turtlegrass and Over Yonder Cay for scrutiny, while some of the most controversial aspects did not. This is particularly problematic given what is at stake – the dredging of a beautiful Exuma bay, the North Bay, to transform it into an industrial shipping channel, complete with an enormous seawall, dock, back-of-house facilities and other industrial infrastructure.
It is unfortunate that it has had to come to this – an expensive judicial review process that calls out the government for falling down on its duties to protect the environment and follow the law – but it is important and the broader implications should not be overlooked. When Justice Leif Farquharson rules on this case, he’ll set a precedent that could echo in The Bahamas for years to come, one that answers the question: are the 2019 environmental laws that Ferreira took to parliament after many years of advocacy by environmentalists toothless tigers that are just for decoration – or are they capable of protecting the environment that we all depend on and the rights of those affected by projects to have a genuine say in them?
What is curious is that at the same time as these points are being raised in court as part of the judicial review, we are seeing personal attacks about Bob Coughlin – the person spearheading this legal action and test of environmental laws – by online trolls. Coughlin, an Exuma resident for almost a decade, has long been established as an environmental advocate and a passionate philanthropist – one who has donated almost $4 million to causes in The Bahamas since 2018, including millions to the organisation I once led, the Bahamas National Trust.
For reasons one can only speculate about, these trolls have been trying to make out all sorts of absurd things: that his legal action in support of environmental protection is a petty dispute born out of fears of competition. That Coughlin no longer even wants to pursue his eco-tourism project, when the reality is that he was forced to put it on hold because of the destructive environmental plans that are in dispute. That he is the only one who has an issue with this Rosewood Exuma resort, when in fact, neighbouring resort, Over Yonder Cay – one of the top rated resorts in the Caribbean – as well as the Save Exuma Alliance – consisting of most of the local islands and businesses in the Exuma area, and thousands of petition signers have expressed their concern with the project – over 9,000 to date. Most ironically, they claim, wrongly, that Coughlin received crown land for personal use, when in fact it is Yntegra who received crown land while having no development track record, when Coughlin instead bought his lease on Sampson Cay from a private owner.
The timing of these claims, in the week of the trial, suggest a patronising and cynical attempt to distract from the gravity of the case being heard, what it represents, and how important this decision is. With their simplistic, jingoistic and factually-dubious references to crown land, white foreigners, and the like – it’s not hard to imagine that those involved are engaged in a ploy to push the buttons of Bahamians who they apparently believe can be too easily distracted into ignoring the real issue here: that the government, has – in the words of those in the Supreme Court this week – “run roughshod” over environmental laws with its approvals for Yntegra’s Rosewood Exuma project and that this is truly a landmark case and the decision will have a long-lasting impact on future development. This is at a time when foreign direct investment (FDI) inflows into the Bahamian economy are forecast to increase by as much as two thirds over the next two years, according to the Inter-American Development Bank (IDB).
So I call on my fellow Bahamians to stay focused. This is not a story about one man – it is a story about the future we want for our country and whether we are willing to sacrifice our ability to demand environmental accountability in all developments moving forward. There is too much at stake to be thrown off the track by trolls.
As Ferreira says of the judicial review that now awaits Justice Leif Farquharson’s judgement: “This is the first set of litigation, serious litigation, that takes a deep dive into the Environmental Planning and Protection Act and the environmental impact assessment regulations…There’s a lot at stake here.”