#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.
Polls open nationwide as rallies, controversy and endorsements close heated campaign season
The Bahamas, May 11, 2026 – Temperatures across The Bahamas on Tuesday, May 12 are forecast to reach a high of 87 degrees Fahrenheit, with “feels like” temperatures expected to climb even higher — but the heat is not expected to disrupt the flow of voters to polling stations which open nationwide at 8 a.m.
More than 209,000 registered voters are expected to cast ballots in the country’s 2026 General Election, which will determine who forms the next government of the Commonwealth of The Bahamas.
Polling stations across New Providence, Grand Bahama and the Family Islands will remain open until 6 p.m., with all 41 House of Assembly seats being contested in what has become one of the country’s most energetic and closely watched election campaigns in recent years.
The governing Progressive Liberal Party and the opposition Free National Movement are fielding full slates of 41 candidates each, while the Coalition of Independents has emerged as a significant third-force movement with 40 candidates contesting seats nationwide.
Public schools throughout the country are closed Tuesday as many campuses are transformed into polling stations, while ballot boxes have already been dispatched to the Family Islands ahead of voting day.
The Parliamentary Registration Department has meanwhile reminded employers that registered voters are legally entitled to two hours off to vote in addition to their normal lunch break and has also issued guidance aimed at maintaining orderly conduct at polling locations.
The final days of campaigning transformed the country into a sea of rallies, motorcades, town halls and political events stretching from Exuma and Long Island to Abaco, Bimini, Eleuthera, Andros, Inagua and Grand Bahama.
The PLP closed its campaign with the message “Choose Progress,” arguing the Davis administration has strengthened the economy, expanded social support and advanced national development projects.
The FNM campaigned heavily on accountability, affordability and governance reform under the slogan “We Work for You,” while the Coalition of Independents sought to position itself as the country’s disruptive alternative with the declaration: “Change ain’t coming — change is here.”
The campaign season also drew international attention with former NBA player and businessman Rick Fox attracting celebrity endorsements from basketball legend Shaquille O’Neal, actress Vanessa Williams and reggae icon Buju Banton through widely circulated video messages.
Adding further unpredictability to the race are at least 13 independent candidates contesting seats across the country, including former Prime Minister Dr Hubert Minnis in New Providence’s Killarney constituency, former Cabinet Minister Frederick McAlpine in Grand Bahama’s Pineridge constituency and Leroy Major in Southern Shores on New Providence — all seeking to break through the dominance of the country’s traditional party structure.
Meanwhile, election officials faced controversy in the campaign’s final hours after confirming that fewer than 150 voters, around 1 percent of electors had been mistakenly omitted from the register but would still be allowed to vote Tuesday — a decision questioned publicly by FNM Leader Michael Pintard amid broader concerns over voter integrity and election procedures.
Despite the political tensions, election officials say preparations are complete.
By Tuesday night, Bahamians are expected to know whether the PLP secures a second consecutive term, whether the FNM returns to office, or whether independents reshape the country’s political landscape.
Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.
The Bahamas, May 4, 2026 – With elections days away, The Bahamas has picked up a headline-friendly win: a credit rating upgrade.
Here’s the one-liner that matters most:
A higher rating can mean cheaper borrowing for the government—over time.
That’s the upside. When lenders see less risk, they demand lower interest. That can ease the cost of financing big projects and managing national debt.
But that’s only part of the story.
Moody’s Ratings has upgraded The Bahamas to Ba3 from B1, citing stronger fiscal discipline, improved liquidity and a more stable funding strategy. It also points to better tax collection, controlled spending and continued strength in tourism as key drivers.
Moody’s expects the government to maintain solid primary surpluses—essentially bringing in more than it spends before debt payments—and projects national debt to decline from 72.5% of GDP to around 68% by 2027.
That’s progress.
But here’s the reality check.
The Bahamas is still below investment grade. In plain terms, the country remains in speculative territory, meaning investors still see a higher level of risk compared to more stable economies.
Debt, while improving, is still elevated. And the economy remains heavily dependent on tourism—a sector that can shift quickly with global conditions, weather events or geopolitical shocks.
Even Moody’s signals that more work is needed. Further upgrades depend on:
sustained reductions in debt
improved debt affordability
and continued access to favourable financing
So while the upgrade reflects real gains, it is not a finish line.
It is a signal that the country is moving in the right direction—but must stay disciplined to keep that momentum.
For voters heading to the polls, the takeaway is simple:
The Bahamas has strengthened its financial position—but the fundamentals still need work.
The progress is real.
The challenge now is to make it last.
Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.
The Bahamas, May 4, 2026 – The Parliamentary Registration Department is assuring the public that ballots cast during advance polling remain secure, following a viral video that sparked confusion and concern in eastern Nassau.
The footage, widely circulated on social media, showed a tense scene outside Thelma Gibson Primary School, where party supporters surrounded election officials as a ballot box was escorted to a waiting vehicle under police guard. The confrontation—loud, chaotic and closely watched—left many questioning whether proper procedures were being followed.
In response, the PRD moved to clarify.
In an official statement, the Department said the transport of ballot boxes in the Elizabeth and Yamacraw constituencies was conducted in line with established protocol. It explained that once polling concludes, the Presiding Officer is required to return sealed ballot boxes to the Returning Officer, who—accompanied by a senior police officer—then transports them to the Parliamentary Commissioner.
The PRD said it is satisfied that Returning Officer Sonia Culmer adhered to those procedures and that the ballot boxes remained sealed at all times.
But that account has been challenged.
PLP Elizabeth candidate Jobeth Coleby-Davis has called for an urgent investigation into what she described as alleged irregularities involving ballot handling. She claims that established procedures were breached, including the movement of sealed ballot boxes without the presence of party observers, and is urging authorities to review the matter.
The competing accounts have added to public unease following scenes that saw supporters from multiple political parties crowding officials during the transfer process, demanding clarity on what was taking place.
Individuals clad in PLP shirts, including incumbent Coleby-Davis swarmed the returning officer, police officers and the ballot boxes. The charge was the woman in the crosshairs of the accusations was connected to the opposition FNM party.
There was nothing to validate this claim and there is no confirmed breach reported by election officials.
Ballots cast during advance polling are expected to remain secured until Election Day, May 12, when they will be merged with ballots in their respective constituencies and counted as part of the official tally.
For now, the PRD is standing firm on the integrity of the process—even as calls for further scrutiny grow louder.
Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.