The Tribune

By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net ALL shipping companies will have their operations relocated to the new container port at Arawak Cay as of today, Tribune Business has been informed. One shipping executive told Tribune Business: "We will be relocating by Monday. It's a government mandate that our vessel operations be off Bay Street by Monday; our warehouse will still be here for another month. Everyone has to do it. Our suffrage rights have expired on Bay Street, meaning our vessels can no longer birth on Bay Street." Tropical Shipping and Atlantic Caribbean Line (ACL) shipping companies are the remaining firms who will be on the move. ACL Shipping and Tropical Shipping both have warehouses on Bay Street. ACL's port director, Garth Rolle, confirmed to Tribune Business that all vessels will relocate as of Monday, April 16. Calls to Arawak Port Development Company (APD) chief executive, Mike Maura, were not returned. Mr Maura previously told Tribune Business that the warehouse operations of Tropical and ACL will continue until May 14, at which point they would be expected to relocate their cargo operations to the Gladstone Road Freight Terminal. The budget for construction of the port and inland break-bulk facility at Gladstone Road is $83 million. APD launched a $10 million initial public offering (IPO) back in December. The Government and private sector have each invested $20 million into the Arawak Cay Port, and with the completion of the IPO, they will each own a 40 per cent stake, with the public holding 20 per cent. The IPO was oversubscribed by some $34 million.