A head of  agreement was signed between the government, Royal Caribbean Group, Carnival Corporation and the Grand Bahama Port Authority for the expansion of the Grand Bahama Shipyard this week.  Government officials led by Prime Minister, the Hon. Philip Davis traveled to the island for the signing event.

The expansion of the Grand Bahama Shipyard was announced in October 2023 including new docks.  At the signing ceremony, Grand Bahama Shipyard Chief Executive Officer, David Skentelberry said, “the infrastructure work that’s taking place at the yard started within days of the groundbreaking ceremony.  We’re on schedule to complete that infrastructure work ahead of the arrival of the docks.  Our focus in the yard is very much on ramping up for the increased business levels.  The new large dock will be called the Lucayan Dock and will be registered under the Bahamian flag in Nassau.  The smaller of the two docks will be called the East End Dock after a well known part of our island and also registered in Nassau.”

During his presentation, Prime Minister, the Hon. Philip Davis said, “in five years we anticipate some 1200 employees will benefit from gainful employment at the shipyard.  The majority of whom will be full time Bahamian workers,  I say full time Bahamian workers because my government remains attentive to the issues surrounding seasonal and casual labour.”

Tourism minister, the Hon. Chester Cooper was also on hand for the signing.  He said, “as the biggest or one of the biggest industrial projects in the Caribbean, as one of the biggest shipyards of its kind in the world with the capacity to do the lifting of the biggest ships in the world the truly is a big, big deal for Grand Bahama.”

According to Carnival Corporation Vice President of Government and Destination Affairs, Marie McKenzie remarkable progress has been made in preparation for the new docks.  “We’ve increased the water depth in the dry dock locations by 20 to 25 feet.  The pier extension is well underway, steel has been cut and assembly has begun for the two world class floating docks.”

The smaller of the two new floating dry docks that will be constructed in China has can lift up to 93,500 tons while the larger dock has a lifting capacity of 130,000 tons.

The Port Group Ltd. has a 20% stake in the Grand Bahama Shipyard.  Grand Bahama Port Authority Director, Rupert Hayward was present for the signing.  He said, “the project will create a huge positive impact for many generations of Grand Bahamians and on the Bahamas as a whole generating significant work for local contractors, thousands of full time jobs and a plethora of associated opportunities,”

The expansion project will cost approximately $600 million and transform the Grand Bahama Shipyard in to the largest ship repair facility in the hemisphere.