Bahamas News
Arawak Port Development Ltd. Celebrates 10 Years As Regional Shipping Leader
#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.
Press Release: Blue Orchid Advertising Agency
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor is proud to announce the launch of Monument Beverage Co., its newest 100% locally produced ready-to-drink alcoholic cocktail.
Monument, “Made to Celebrate”, perfectly encapsulates everything the brand represents. Created and distributed by CWS, Monument is
inspired by culture, crafted with excellence and bursting with innovation.
This unique beverage celebrates island living with three bold flavors, Ginger Lime, Peach Passion and Melon Fizz. All of which can be enjoyed at an ABV of five-point-two percent.
The brand’s creativity really shines through each can’s packaging. Bold colored stripes, cherished native flora and fauna and of course, national monuments can all be found on each can.
The beverage’s two year plus development is a testament to CWS’ dedication to quality and innovation. Countless hours of tastings, reformulations, focus groups and package design reviews all paid off with the creation of Monument.
Karla Wells-Lisgaris, Chief Commercial Officer of Caribbean Wines & Spirits and Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, shared what this authentically Bahamian made product launch means for the company.
“When we were conceptualizing Monument, we wanted to create a product that not only tasted like The Bahamas but would be an ode to the
nation as well. With those two thoughts in mind, I, along with a team of experts, created three incredible flavors we believe really connect with and celebrate the essence of island living,” she said.
“Additionally, being that Monument is the first product to be 100% manufactured by Caribbean Wines & Spirits, we really wanted to ensure that both the flavors and packaging honored our rich heritage. On each of the cans, you can find various monuments such as the Nassau Public Library in New Providence, the Garden of the Grove in Grand Bahama and the Hatchet Bay Silos in Eleuthera; all of which pay homage to our diverse Bahamian heritage.” Wells-Lisgaris concluded.”
The historic monuments found throughout our islands are more than places we pass every day; they are reminders of who we are, where we’ve come from and the stories that connect us as Bahamians.
Monument is perfectly formulated with quality ingredients, and each can celebrates a collection of these cultural icons from across The Bahamas.
Whether chilling solo beachside, gathered around a family table or backyard a grill with friends, make Monument your sip of choice. Monument is made to celebrate, visit www.cwsbahamas.com today for more details.
NASSAU, Bahamas —– Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to crown Lady
Kayla of Exuma as this year’s annual Bahamas Goombay Punch Cup winner.
CBC created the Bahamas Goombay Punch Cup to further the advancement of sailing and Bahamian culture through monetary and social support. The competition judges the skipper’s performance across three regattas, The Best of the Best, the National Family Island and Long Island Regattas.
The winning sloop led by Kianno Hutchinson and Joss Knowles showcased their skillmanship in the E-Class category across each round of competition. In addition to winning the trophy, the skippers were awarded a $5,000 donation, an $8,000 stipend to the junior sailing club of their island and a limited-edition Lady Kayla Bahamas Goombay Punch commemorative can, which will be released soon.
Jonathan Thronebury, Marketing Director of CBC shared the significance behind The Bahamas Goombay Punch Cup.
“The Bahamas Goombay Punch is more than a beloved local brand; it’s a vibrant part of our cultural fabric. Just like sailing, our national sport, it carries a rich legacy that spans generations. Recognizing this shared history, we’re proud to support initiatives that celebrate and advance Bahamian culture,” he said.
Hutchinson and Knowles shared what this win meant for them.
“I felt super proud when I realized we won. I am grateful and thankful to God, for good coaches and Joss. It was really an honor winning the
Bahamas Goombay Punch Cup,” Hutchinson expressed.
“I am very honored to have been able to compete in the Bahamas Goombay Punch Cup, I think it is a great concept and idea for a competition and really adds a new motive throughout the regattas. The whole championship was super competitive, and every single race was a fight. Alvington McKenzie was extremely competitive and had us until the Long Island regatta, which made it a very fun and tough competition. Very excited to have been the winner of a super close championship,” Knowles revealed.
Lady Kayla’s owner, Dallas Knowles, shared the team’s winning strategy.
“In sailing consistency is key and our guys in Lady Kayla are some of the best in the business at staying near the top. In the end, that was enough to secure their first Bahamas Goombay Punch Cup win. We are so proud of Joss and Kianno for what they have done in Lady Kayla. Thank you to Caribbean Bottling Company for such an amazing and forward-thinking initiative,” Knowles shared.
The Bahamas Goombay Punch Cup is proud to continue its impact on sailing and community building through clean and fair competition.
For more updates on the Bahamas Goombay Punch Cup and Caribbean Bottling Company visit the website www.cbcbahamas.com today.
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to once again support Basketball Smiles for their 27th year.
Upholding its corporate pillar of community outreach, CBC proudly donated $2,000, over 75 cases of Dasani, Powerade and Sprite, reusable
Powerade water bottles and numerous marketing materials.
The annual sporting summer camp offers free basketball and life skills training to Junior and High School students.
Basketball Smiles’ mission of developing leadership qualities while fostering children’s academic achievement and self-esteem aligns perfectly with CBC’s commitment to supporting and empowering youth.
Jazmin Darling, Assistant Marketing Manager for Caribbean Bottling Company shared why the company continues to support this program each year.
“At CBC, we believe investing in our youth is one of the greatest ways to strengthen our communities. We’re proud to support Basketball Smiles each year because it goes beyond the game. This program champions healthy lifestyles, positive values and brighter futures. It’s a privilege to play a role in helping these young athletes reach their full potential each year,” she shared.
Sam Nicholls, Basketball Smiles Camp President and Founder expressed.
“Caribbean Bottling Company is an incredible partner. We are truly grateful for their generous support, which will go a long way in making a positive impact on the lives of our campers,” Nicholls expressed.
CBC is always ready to lend its support toward initiatives and programs that uplift young Bahamians. The impact Basketball Smiles makes on the community is undeniable and is why CBC remains a historic sponsor.
For more information on sponsorship, events and new products, visit www.cbcbahamas.com today.
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