CEDA hopes proposed intra-regional ferry service...

investment service would complement CARICOM’s planned regional transport system. “We have done this in a synergist approach with CARICOM,” Chairman and Founder of Pleion Group Inc. and Upturn Funds Caribbean, Dr Andre Thomas told a press conference at the launch.

“Our intention, with all things being equal, is that the service will begin at the end of this year. We believe that will be realistic. As soon as we are in a place where we have enough control of the variables, we will announce when the projected dates of the service will start.”

The private sector ferry service, Maharaj, informed, was birthed out of investment discussions at one of the CEDA forums.

Maharaj is positive that there will be a regional service but he said that citizens need to be clear on when they would come on stream, although he knows that for governments to make such announcements they would have fleshed out certain protocols and regulatory requirements already or are working on them.

“Out of Trinidad and Tobago and Guyana and I think Barbados, a formal announcement was made by respective authorities in those countries. The private sector one was conceptualized in The Bahamas we are happy the announcement was made, but it will take some time to get the financing, get the ships etcetera. We are happy as that kind of intra-regional [service] will give us a fantastic boost to not only the movement of people but the movement of goods as well,” he said.

Pointing to the import markets in the Caribbean, as he zoomed in on the over 1.2 million tourists that Barbados hosts every year, he said that a ferry service taking rations to that country alone, which imports more than 90 per cent of all its foods, would be profitable.

“I believe it [the ferry service] should take off and we want it to succeed. Given the announcements made at the highest levels, I see no reason it shouldn’t take off. Prime Minister Rowley already identified a vessel. They have to negotiate port facilities and schedules… etcetera, but I see no reason it can’t take off, say in the next six to eight months. It will be a game changer in intraCaribbean regional trade, a fantastic boost,” he added.

And where some have said that having two of the same service would be conflicting or not a profit-making move, Maharaj differs. “It is not at all conflicting. The ferry the three governments announced have an initial route but what about the whole eastern Caribbean? … there is enough market share for everybody. I see no reason that they can’t work together… there is more than enough market space. Also, if you have competition you drive down the cost as well, so it is good.”