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TUESDAY, AUGUST 3, 2021
$5.10 Ship agent: ‘We’ll not be scapegoat’ on Asian beetles By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamian shipping agent for a vessel that offloaded wood waste containing an invasive beetle species yesterday pledged to fight impending Customs charges and efforts to make it “a scapegoat” for the controversy. Elbert Hepburn, Elnet Maritime’s chief executive, voiced optimism to Tribune Business that “we’ll be exonerated with the right investigation” days after multiple government agencies announced a probe into how the Pan Jasmine cargo ship was able to offload without their approval wood waste infested with an Asian beetle renowned for destroying trees. Promising that “we’re going to fight through it”, he said he had passed Bahamas Customs’ July 30 letter - setting out a list of charges against Elnet Maritime - to his attorneys at the
ParrisWhittaker law firm in readiness for a potential legal battle that could potentially reach the Bahamian courts. Questioning why Customs and other government agencies are not going after the Pan Jasmine’s owner or management company/ operator, Mr Hepburn argued that Elnet Maritime was not responsible for what occurred. He instead blamed the “breakdown in the operation” on a marine logistics service provider that Elnet Maritime hired to remove the infected wood waste, known as dunnage, from the vessel. This sub-contractor, Lucayan Maritime Services, took on the job of removing the 200 cubic metres of wood from the Pan Jasmine on a 110-barge. The dunnage was subsequently brought to shore, where it was fumigated, sanitised and burnt at Grand Bahama’s landfill.
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Minister: ‘Extreme frustration’ over Grand Lucayan By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A CABINET minister says it is “extremely frustrating” that the Grand Lucayan’s sale continues to be delayed by the protracted wait for ITM/Royal Caribbean to close their separate deal with Freeport Harbour Company. Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that concluding negotiations over Freeport Harbour’s redevelopment - including the addition of new cruise berths - was a “condition precedent” that must be satisfied before the joint venture will acquire the resort from the government.
DIONISIO D’AGUILAR Suggesting that the government nevertheless “remains optimistic” that the Grand Lucayan’s sale will eventually get over the line, he said he had been “advised” that an agreement between ITM/Royal Caribbean’s Holistica joint venture and Freeport Harbour Company - the latter which is 50/50 owned by
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Doctors in 40% public GB hospital ownership By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
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OCTORS Hospital is planning to offer at least a 40 percent collective ownership stake to Grand Bahamians in the $15m-$20m hospital it plans to open on that island by the 2022 second quarter. Dennis Deveaux, the BISX-listed healthcare provider’s chief financial officer, told Tribune Business that Grand Bahama residents “should expect to start hearing” about how they can acquire an equity interest in the new hospital by October 2021. Disclosing that the facility will create between 90-100 direct jobs “at full maturity”, he disclosed that construction work on the building identified for the Grand Bahama hospital will begin in the same month as details about the share offering are likely to be released. Arguing that Grand Bahama’s healthcare needs mean “we don’t have the
• To offer minority stake to island’s retail investors • $20m facility to open early 2022 with 90-100 direct jobs • PwC hired to advise on offering; structure to be decided
DOCTORS HOSPITAL NASSAU luxury of a two-three year build-out”, Mr Deveaux acknowledged that details regarding the offering of a large minority equity stake are still being worked out including timing, share price and whether it will take the form of an initial public offering (IPO) or private placement. Revealing that up to a 49 percent collective ownership interest could be offered, he explained that it would initially only be made
available to Grand Bahama and “northern Bahamas” residents. If any shares remain, they would then be offered to retail investors (individuals) throughout The Bahamas and only opened up to institutions in a final third phase in a bid to achieve the broadest possible ownership. “It’s no secret that we’re looking to put a full inpatient hospital in Grand Bahama,” Mr Deveaux told this newspaper. “That
project has received quite a bit of support at the clinician level and a fairly mature client base. We envision some time in the first and second quarters of 2022 starting up a new hospital in Grand Bahama. “The concept of the hospital is 12 beds on the ground from day one with the capacity to expand to 20, a full Intensive Care Unit (ICU) with five to seven ER (emergency room) critical bays with the capacity to expand. We’re building in the capacity to expand with evolved healthcare needs. We’re approaching Grand Bahama with scalability. “We anticipate that at full maturity we could be looking at anywhere from 90-100 full-time jobs. Beyond direct employment impacts, we expect to engage local designers and architects,
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