MPs clash in parliament over Nassau cruise port deal

During his address in the budget debate, Bell launched a scathing critique of the agreement reached by the Minnis administration with Global Ports Holding.

The deal, signed in 2019, granted the company a 25-year concession for the operation and redevelopment of Nassau’s cruise port.

Bell argued that over a five-year period, the port would generate $575 million in revenue, while the government’s share would be a mere $18 million in comparison.

“It’s not even $18 million because we must take into account the $44 million dollars owed due to the FNM’s dredging of the harbor in 2009. If we subtract the $18 million dollars the government receives from the $44 million, it means that when they signed the deal, we were already in a deficit of $26 million dollars.

“How could one have negotiated such a bad deal on behalf of the Bahamian people? In 2019, they gave away a fully dredged harbour,” said Bell.

“This is a bad deal. I would submit that this is the worst deal in the history of the Commonwealth of The Bahamas, by any government or administration.

“We get the liabilities, and they get the assets. That’s the bottom line. All we are getting is an estimated $2.8 million dollars a year for 93 acres, along with the loss of rent, facility fees and berthing fees.”

In response, Shannendon Cartwright, the FNM’s deputy leader and St Barnabas MP, questioned why the Davis administration had not taken steps to cancel the deal if it was truly as detrimental as Bell claimed.

“If this deal is so detrimental to the Bahamian people, why did the government not terminate it? They even attended the grand opening and reveled all night. If it’s as bad as they say, why did they allow the deal to proceed?” Cartwright questioned.

Former Prime Minister Dr Hubert Minnis rebutted Bell’s assertions, emphasizing that Bahamians hold a majority 51 percent ownership in the port, with Global Ports Holding, the world’s largest cruise port operator, owning 49 percent.

Dr Minnis accused Bell of spreading misinformation, asserting that as cruise passenger volumes increase, the government would witness a surge in revenue as well as Value-Added Tax (VAT).

“If the projected revenue is $575 million, we must consider the associated costs. The government is receiving $19.44 per passenger, and passenger volumes are rising. This would amount to approximately $80 million” Dr Minnis explained.

Construction on the redevelopment of the Nassau Cruise Port commenced in late 2019, and on May 26, the brand-new $300 million passenger terminal in downtown Nassau was officially inaugurated.

The state-of-the-art facility boasts a sixth berth and has the capacity to accommodate three Icon-class ships simultaneously, which are the largest class of cruise ships in the world.