NASSAU, BAHAMAS — The Grand Bahama Shipyard projects an annual turnover reaching $250 million within five years, with its top financial executive noting firm reservations extending into 2029.
Linda Turnquest, the CFO of Grand Bahama Shipyard, addressed the recent Grand Bahama Business Outlook, highlighting the shipyard’s potential for growth. She emphasized the region’s lack of docks capable of accommodating the new, larger cruise ships, prompting the launch of the Grand Bahama Shipyard transformation project with an investment of approximately $600 million. Turnquest stated: “This heralds a new era of growth and prosperity for Grand Bahama and the Grand Bahama Shipyard.”
“We are poised to revolutionize the ship repair landscape,” Turnquest remarked. “Our current $80 million turnover is projected to soar to $250 million within the next five years. This growth is not merely wishful thinking but is firmly grounded in the expanding cruise ship industry and the rising demand for LNG tanker docking and repair. Moreover, our reputation for efficiency in the Caribbean and along the Eastern seaboard of the USA positions us as a prime destination for ship maintenance and repair. The market is not only stable but thriving.”
She noted that as of 2024, the Grand Bahama Shipyard has only 90 days remaining to sell, describing it as a “testament to the insatiable demand” for its services. “Looking ahead to 2025 and beyond, our dock is already fully booked with firm reservations extending to 2029.”
The Shipyard’s clients include Carnival Cruise Line, Holland America, Princess Cruises, Royal Caribbean Cruise Line, Virgin Cruises, Norwegian Cruise Line, and MSC.
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