National

Nassau Cruise Port – Good Or Bad Deal?

NASSAU, BAHAMAS – Days after Immigration and Labour Minister Keith Bell slammed the Nassau Cruise Port deal, Our News has exclusively obtained a copy of the lease and there are some shocking revelations.

Published

2 years ago

June 23, 2023

Berthony McDermott

One of them is the lease is void of a termination clause.

The lease dated August 28th, 2019 reveals a number of commitments the government made to the Nassau Cruise Port.

This lease reads “Any unlawful disruption of the Nassau Cruise Port Ltd.’s rights to use the premises constitutes a breach of the agreement and as a result, the lease will remain in force so long as the heads of agreement is in force.

It adds… “For this reason, the lease does not have a termination clause independent of the heads of agreement.”

Additionally, if the agreement is terminated in line with the terms, the lease will be automatically terminated, however in the event the terms of the agreement are extended, then the lease will be automatically extended.

It says the Nassau Cruise Port has no obligation to make any payment outside of the annual lease charge of 50 cents per passenger movement to the government or any third party for using the premises.

The lease also mandates that should government choose to change the purpose of the sidewalk on the southern boundary of the property, a six-month written notice must first be given except for in the case of an emergency.

It also commits to building, operating and maintaining a modern an environmentally friendly cruise port.

This latest revelation comes after Immigration Minister Keith Bell called it an FNM blunder and had some choice words about the deal.

However, days later, Deputy Prime Minister and Tourism Minister Chester Cooper praised the cruise port, calling it a stunning achievement.

Back in August 2019, the Minnis administration entered a 25-year-long lease with global ports holding to redevelop and manage the Nassau Cruise Port.

The heads of agreement is valued at $250 million.