NASSAU, BAHAMAS — Nassau’s main commercial port is still “not quite” back to pre-COVID-19 volumes, according to its top executive, who also noted that the port owner/operator is not looking to increase its tariff at this time.
“While they are not quite back to pre-COVID-19 volumes, we have seen an increase in volumes trending toward our pre-COVID volumes period over period,” said Dion Bethell, Arawak Port Development Company’s (APD) chief executive.
“When we look at January and February of this year compared to January and February of last year we’re ahead of that. However, when we look at the year before that, just before COVID-19 came, we’re still not back to that level.”
Bethell also noted the BISX-listed port owner/operator has no plans to increase its tariffs at this time. He explained that amid rising food costs, increasing port tariffs would ultimately cause even greater hardship for the average Bahamian.
Bethell said: “If we were to increase our prices that would have a knock on effect from shipping companies to retailers. We know that the price of goods are going up and will go up.
“Our thought is that if we go up on our prices that impact will be felt in our community. It will be felt by everyone including the small man. We are not introducing any increases at this time and we’ll just absorb those costs.”
