The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamas must “aggressively advance” the building of a yacht registry to capture a greater share of the business that passes through its waters annually, the attorney general said yesterday.

Ryan Pinder, addressing the Senate on the Merchant Shipping Bill, argued that The Bahamas must exploit its maritime expertise and history to develop a registry attractive to a lucrative and rapidly expanding global market (see other article on Page 1B).

“We as a country are global leaders in ship registration. Our flag is respected worldwide and envied by many. This experience and expertise must be advanced aggressively to build our yacht registry,” he asserted.

“ This is a natural market for us in The Bahamas as we witness year after year the growing number of private and chartered yachts that call The Bahamas home and sail throughout our beautiful waters.”

Suggesting that the foundations are already in place for this effort, Mr Pinder said the Bahamas Maritime Authority (BMA) already “provides a straightforward, cost effective and efficient registration procedure for private and charter yachts of 12 metres in length and above, and for passenger yachts”.

He added: “The only flag with a dedicated code for small charter yachts, the BMA is a pioneering flag with a passenger yachts code (PYC) to allow yachts to carry more than 12, and up to 36, passengers, meeting the growing demand from yacht owners to be able to carry more guests on board.

“The BMA has developed specific technical and surveys requirements, tailored to small (12 to 24 metres) and large (over 24 metres) yachts in charter (commercial) or private (non-commercial) use and for private yachts in restricted charter use.”

Mr Pinder then pledged: “We will support the BMA in these efforts, and I will work with my colleague minister of transport (Jobeth Coleby-Davis) to ensure that the legislation and framework is world-class to better attract the yachting industry to be part of the ‘blue economy’ of The Bahamas.

“Just as we are doing here with the Merchant Shipping Act to stay at the head of the class and be respected worldwide, we want to be regarded as the same with respect to the yachting and private charter industry of the maritime industry.

“We see more and more opportunities for Bahamians in this industry as crew on the charter boats. These opportunities provide for well-paying jobs for Bahamians within our waters ,and as I watch this industry grow year-on-year, I see more and more Bahamians as crew, chefs and engineers on these vessels,” he added.

“We are also seeing Bahamians become the captains of these private and charter yachts. We might want to consider expanding the curriculum and educational opportunities at the LJM Maritime Academy to the yachting industry.”

Turning to the Merchant Shipping Bill, Mr Pinder said The Bahamas “punches far above our weight class” in the international maritime sector. “This legislation forms the basis for The Bahamas to expand upon its commitment to the ‘blue economy’, and is a fundamental component of expanded opportunities for Bahamians in the maritime industry globally,” he added.