The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Government last night defended the leasing of 49 mooring/anchorage sites in the Exuma Cays as “a significant step forward” for marine conservation and the country’s “sustainable boating infrastructure”.

Pushing back at concerns that the lease deal with Bahamas Moorings amounts to privatisation of these locations by handing a monopoly to a private company, the Davis administration said itself - rather than the local government authorities - issued “a cease and desist” order to buoy installation until all the necessary approvals and permits had been obtained.

In a statement, the Government said the project had been approved by the Cabinet almost three years ago in June 2022 but it was not until January 2025 that the lease agreement was concluded with Bahamas Moorings Company.

It argued that the move was justified because of the damage done to the Bahamian seabed by past “unregulated anchoring”, which threatens to impact the seagrass meadows and other marine/blue economy assets vital to this nation’s ambitions to turn ‘carbon sinks’ into carbon credits.

The Davis administration, asserting that the Government has an equity ownership stake in Bahamas Moorings Company, although it did not specify how much, said the company has agreed to install 253 moorings at “key locations throughout the Exuma Cays” apart from in the Exuma Cays Land and Sea Park. It also sought to justify why the deal was not put out to competitive bidding via a public tender.

“This $2.5m private investment represents a significant step forward in marine conservation and sustainable boating infrastructure, helping to protect The Bahamas’ delicate marine environment while ensuring responsible anchoring practices,” the Government said.

“The Cabinet of The Bahamas approved the project in June 2022. In January 2025, Bahamas Moorings was granted a lease agreement. This approval was contingent on the group obtaining all necessary governmental approvals.

“However, the Government has been notified that preliminary activities under the lease agreement commenced prior to the group receiving all of the required approvals - including the requirement of public consultation. Thus, the Government has issued a cease-and-desist order,” it continued.

“The public is further advised that a Request for Proposal was not required, as the project is a private commercial venture, albeit in the national interest, not involving government expenditures and was proposed to the Government.”

Justifying the rationale for the Bahamas Moorings Company tie-up, the Davis administration sought to link it to its much-touted ‘blue carbon credits’ initiative. “For years, unregulated anchoring has significantly damaged coral reefs and seagrass beds - critical marine habitats supporting biodiversity and carbon sequestration,” the Government asserted.

“Recent research by Beneath the Waves, a leading marine science organisation, has documented a 20-30 percent decline in seagrass coverage in parts of the Exuma Cays over the past decade, underscoring the urgent need for action. Installing these moorings will help preserve marine ecosystems while enhancing navigational safety by reducing anchor-related destruction and minimising seabed disturbance.

“The project will utilise eco-friendly moorings with helical anchors, a system successfully implemented in mooring fields at the Exuma Cays Land and Sea Park, Staniel Cay and Elizabeth Harbour, Georgetown. These moorings will help organise anchoring patterns, improve vessel safety and reduce the environmental impact of unregulated anchoring,” the Government added.

“Additional benefits include a reduction in sediment disruption, carbon loss and greenhouse gas emissions. This initiative is also a key component of the Bahamas Blue Carbon Project, which aims to generate funding through carbon credit sales linked to the protection of seagrass beds and marine sediment; critical natural carbon sinks.

“Beyond conservation, the mooring project will facilitate the collection of valuable environmental data to support research and global conservation efforts. These efforts align with the Government’s broader climate initiatives and long-term goals for ocean health and sustainability.”

The Government said the Port Department will collect the rental fee paid by Bahamas Moorings, while the Department of Inland Revenue will gain Business Licence and VAT income. “When the mooring fields are functional, boaters are expected to use them and pay a fee once connected to a mooring or anchored within one of the mooring fields,” it said.

“The fees per vessel will range from $0.50 a day per foot for smaller vessels to $1 a day per foot for the bigger yachts. This initiative underscores The Bahamas’ commitment to sustainable tourism, responsible marine management and the long-term preservation of its world-renowned marine environment.”