Bahamas: Plans are underway to expand capabilities of Grand Bahama Shipyard

The plannings are underway to develop and expand the capabilities of the Grand Bahama Shipyard, which is located at Freeport in the Bahamas.

Bahamas: The plannings are underway to develop and expand the capabilities of the Grand Bahama Shipyard, which is located at Freeport in the Bahamas.

As per the Bahamas government, this new investment would be one of the most significant investments in the history of the island. When this project would be completed, the yard would be then capable of handling and maintaining the largest ships in the world.

Grand Bahama Shipyard was started in the year of 2000 with one drydock capable of handling ships to up to 27,000 tons displacement. The yard added a second drydock in the year of 2001 capable of handling vessels up to 50,000 tons displacement, and by the year of 2009, a third drydock was added, giving the yard a lifting capacity of up to approximately 82,500 tons displacement.

The Ownership of the yard includes 40 per cent stakes each from Carnival Corporation and the Royal Caribbean Group, with the left portion held by the Grand Bahama Port Authority.

The Bahamas Prime Minister – Dr Hubert Minnis, recently told the House of Assembly and stated that “I am pleased to announce that Carnival and Royal Caribbean have agreed to a new, combined investment of approximately $350 million in the Grand Bahama Shipyard.”

Following the statement, he further added, “To understand the scale of this investment, the House may recall that the original investment and other investments to date in the shipyard have totalled approximately $250 million.”

The plans for the investment were confirmed by the Carnival Corporation. This investment would be used to expand the yard’s capabilities. The largest portion of the investment would go into the addition of two large drydocks capable of handling the newer generations of cruise ships.

Currently, the giant cruise ships are to head to Europe for their maintenance and overhauls.