October 10, 2018
Michael Maura
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Cruise port’s $300m finish moved back to early 2023
The completion of Nassau Cruise Port’s $300m transformation has been pushed back to early 2023, its top executive has revealed, with $110m worth of landside and buildings construction now set to move into high gear.
COVID mask deterrent ease for cruise tourists
The Government’s COVID enforcers have eased the mask-wearing mandate for cruise ship passengers as vessel occupancy for Nassau berths hit a post-pandemic record of 91 percent last Friday.
‘Time not on our side’ for Bay Street revival
Nassau Cruise Port’s top executive yesterday warned “time is not on our side” to ensure Bay Street’s tourism product meets the expectations of 20,000-plus cruise ship passengers and other visitors frequenting the area daily.
Bad weather cancels as many cruise calls as COVID’s Omicron
Nassau Cruise Port’s top executive yesterday said it has lost more vessel calls to bad weather than the COVID Omicron variant with berth bookings “very solid” for the remainder of 2022.
Cruise port the ‘canvas for the Bahamian story’
Nassau Cruise Port’s $300m transformation is “creating the canvas upon which Bahamians will tell their story” and entice more visitors to leave their vessels, its top executive says,.
‘No luxury brands’ for cruise port’s offering
Nassau Cruise Port’s operator yesterday said it continues to target a $400m increase in annual passenger spend while making its retail and food offerings stand out from the crowd.
Salary deduction needed for $10m cruise IPO loan
Bahamians wanting to access a $10m interest-free loan facility to finance investing in the Nassau Cruise Port can only do so if their employer “qualifies” for a salary deduction programme.
Nassau’s first five-ship arrivals since COVID
Nassau Cruise Port will today host five vessels for the first time since COVID-19 struck in March 2020, its top executive asserting: “We’re on the road to recovery.”
$52m Bahamas boost from single cruise line
A 156 percent increase in Nassau calls by just one cruise line has the potential to generate a $52m-plus boost for the Bahamian economy in 2022, Nassau Cruise Port’s top executive revealed yesterday
‘Aggressive bar’ set by $40m cruise port loan
A US institutional investor “has set a pretty aggressive bar” for other lenders to match by supplying Nassau Cruise Port with $40m towards its construction financing needs, its chief executive revealed yesterday.
Maura to serve as chairman for 2021 Anchor Awards Gala
THE American Caribbean Maritime Foundation (ACMF) has announced that Mike Maura, CEO of Nassau Cruise Port Ltd., will serve as the chairman of the distinguished 2021 Anchor Awards Gala.
Cruise port eyes 1m visitors by end-2021
Nassau Cruise Port’s top executive yesterday said it could welcome one million visitors over the five months to year-end 2021 even if vessels call with just 60 percent average occupancy.
Cruise port chief eyes health visa efficiency gains
Nassau Cruise Port’s top executive says “there is an opportunity to create greater efficiencies” with the COVID-19 related health questionnaires and documents that cruise passengers must complete.
SHIPS AHOY: First cruise sailing out of Florida set to arrive on July 4
Nassau Cruise Port’s top executive yesterday said its “bread and butter” will return on July 4 when the cruise industry resumes calls on the Bahamian capital from its Florida hub.
Cruise port ‘won’t cannibalise’ marinas’ boating business
The Nassau Cruise Port’s top executive has sought to reassure New Providence marina operators that it will not “cannibalise” their business through its plan to offer mega yacht docking facilities.
$400m passenger spend rise targeted by port chief
Nassau Cruise Port’s top executive yesterday said it is targeting a $400m increase in annual passenger spending after data revealed more than 40 percent spent less than $50 in the capital pre-COVID.
Cruise port’s $3.5m ‘icing on the cake’
Nassau Cruise Port will receive an unexpected $3.5m windfall from its use by two cruise lines as a home port, with its chief executive branding the windfall as “the icing on the cake”.
Port slashes visitor projections by 1.1m
Nassau Cruise Port yesterday said it has slashed its 2021 arrival estimates by more than one million passengers, or 42.3 percent, due to Carnival and its affiliates delaying their return beyond end-March.
Port chief: Nassau won't see cruise ships till 2021
The cruise lines will resume calling on The Bahamas' major ports in the 2021 first quarter, Nassau Cruise Port's top executive predicted yesterday, while warning: "We won't see anything in 2020."
Cruise chief: 2021 berth bookings up over pre-COVID
Nassau Cruise Port’s top executive says he remains hopeful the cruise industry may return with "very limited sailings" before year-end with 2021 berth bookings exceeding pre-COVID-19 levels.
Cruise port stands firm over forecast despite new delay
Nassau Cruise Port’s top executive says there “is no reason” to alter its forecasts despite the latest delay to the cruise industry’s return leaving no margin for error. Michael Maura, pictured , the cruise port operator/developer’s top executive, t
'Expensive money': $150m port bond set for refinance
Nassau Cruise Port will move to refinance its recent $150m bond issue at the earliest possible opportunity, it was revealed yesterday, having elected to keep the offering’s $20m over-subscription. Michael Maura, the cruise terminal operator’s chief
No cruise tourists for five months (at least)
Nassau Cruise Port is projecting passenger numbers will plummet by 61.4 percent in 2020, with no new arrivals for at least five months, as it today launches its $130m bond financing. Michael Maura, Nassau Cruise Port’s chief executive, said the oper
Cruise port: We will fight crime 'head on'
Nassau cruise port’s new operator last night pledged to lead a crack down on illegal activities at Woodes Rogers Wharf after a video showing a cruise ship tourist seemingly inhaling drugs went viral. Michael Maura, pictured , Nassau Cruise Port Ltd’
'Taking Nassau from 1.0 to 10.0'
Bahamian institutional investors will be invited to raise 40-50 percent of the cruise port’s $100m bridge financing facility, with its developer pledging yesterday: “We’re taking Nassau from 1.0 to 10.0.” Michael Maura, Nassau Cruise Port’s chief ex
$250m cruise port overhaul targets Q1 2022 completion
Nassau cruise port’s operator is aiming to “double the yield” from passenger spending once the facility’s transformation into a destination product is completed by the 2022 first quarter.Michael Maura, Nassau Cruise Port Ltd’s chief executive, told T
Business ‘uneasy’ over tax strategy’s absence
Bahamian businesses are “anxious and uneasy” over the lack of a “clearly defined tax strategy” from the government, the Chamber of Commerce’s chairman warned last night.
Arawak port’s profits beat forecast by $120k
The Nassau Container Port’s operator has beaten 2019 first-half profit expectations by $120,000 as it delivered on forecasts of a financial performance that will match 2018.
‘Big bang’ for health tax July next year
Bahamian workers earning more than $35,000 per year will have to pay the majority of their National Health Insurance (NHI) premiums from their own salary, it was revealed yesterday.
Private sector fears ‘filling gap’ on NHI
The Chamber of Commerce’s chairman yesterday voiced fears that the already-strained private sector will have to “fill the gap” if National Health Insurance (NHI) gets its sums wrong.
Govt urged: ‘Hear cry of domestic economy’
The Government has been urged to “swiftly address the cries of our domestic economy” and its inefficient processes otherwise the financial services industry’s adjustment will be undermined.
Chamber confident ‘reason will prevail’ in labour disputes
The Chamber of Commerce’s chairman yesterday expressed optimism that “reason will prevail”, giving the Government a vote of confidence in its ability to prevent further industrial unrest.
Arawak port bulks up as autos fall off
A 59,000 ton increase in bulk aggregate imports, combined with a $109,000 year-over-year expenses decline, enabled the Arawak Cay port’s operator to beat profit targets by nine percent.
$100,000 ‘buy NHI’ mark ‘way too low’
The $100,000 National Health Insurance (NHI) exemption threshold for businesses is “way too low” and should be raised to $500,000, the Chamber of Commerce’s chairman said yesterday.
'Overkill': Govt hit overbank account demands
The Bahamian private sector yesterday slammed business licence-related demands for their bank account details as “overkill”, and asked: “When’s it going to be easier to do business?”Michael Maura, the Bahamas Chamber of Commerce and Employers Confede
Arawak Port beats profit target by 9%
The Nassau Container Port’s 2019 first quarter profits beat target by nine percent despite projections that full-year net income will be down by more than $1m compared to the prior year.Arawak Port Development Company (APD), the port’s BISX-listed op
Chamber chief: World Bank ignored 'ease of business' upgrades
The Chamber of Commerce’s chairman yesterday said he was “personally frustrated” that the World Bank had ignored evidence of improvements in The Bahamas’ cross-border trade regime.Michael Maura, pictured, saying he was “disappointed” that much “real
Chamber chair queries NHI $42 premium 'cap'
The Chamber of Commerce’s chairman yesterday queried if Bahamian workers will suffer reduced healthcare quality given the revised NHI scheme’s “maximum” premium contribution.Michael Maura, pictured, in an emailed reply to Tribune Business from New Yo
GDP growth slash's 'pleasant surprise'
Businessmen were yesterday “pleasantly surprised” that the IMF did not cut The Bahamas’ GDP growth forecast more deeply, some having feared a full percentage point slash in VAT’s wake.Michael Maura, the Bahamas Chamber of Commerce’s chairman, told Tr
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