Maritime

The Bahamas was successful in its re-election to the Council of [The International Maritime Organization](http://www.imo.org/en/Pages/Default.aspx) during elections at The 29th IMO Assembly held in London. A release from the Bahamas Information Services also states that in addition to its re-election to the IMO Council in Category C, The Bahamas also improved its international standing on the Council. Out of the 154 votes cast by IMO member states, The Bahamas obtained 124 votes. Minister of Transport and Aviation the Honourable Glenys Hanna Martin, who placed the vote for the country, stated that it was a hard won effort which enhanced the position of The Bahamas since the elections two years ago. Hanna Martin added that this further cements The Bahamas’ rise to the top in leadership in the maritime sector. *“We are sitting on the Council of the International Maritime Organization which is a very prestigious achievement on behalf of The Bahamas because this is the UN agency that governs maritime activities worldwide – some 90 percent of world trade is done by sea.”* She said through the archipelago’s seat on the council, The Bahamas brings substantive involvement – in its own right – in representation on important matters discussed and to standards and policies that this body influences. In fact, in the last two years on the IMO Council, The Bahamas has contributed substantially to committees and sub-committees which handle global issues facing the maritime industry. Minister Hanna Martin is not only pleased with the outcome of the IMO elections, but also the continuous recognition The Bahamas has been given by member states. *“It is clear that there is an appreciation of our contribution by the wider body, when you look at the confidence that has been reposed on us by countries all over the world, Africa, Europe, Asia and through the region. We feel very good about it and it sets the tone for all of us to understand that as a people we are really capable of anything we put our minds to”.* The Minister took the opportunity to thank the Ministry of Foreign Affairs – and all its overseas missions including The Bahamas High Commission London, The Bahamas Permanent Mission to the United Nations in New York – and The Bahamas Maritime Authority offices in London and Nassau. [Related Story.](http://www.thenassauguardian.com/bahamas-business/40-bahamas-business/61221-minister-govt-has-placed-premium-on-youth-maritime-training) *Photo (Courtesy of BIS): Minister of Transport and Aviation, The Honourable Glenys Hanna Martin during the election process at the IMO Assembly in London on Friday, November 27th.*

The Bahamas Financial Services Board’s (BFSB) participation in [Posidonia 2014](http://www.posidonia-events.com/) in collaboration with the Bahamas Maritime Authority (BMA) is another step forward in a strategy aimed at exploiting the obvious synergies between the two sectors. The 40 year old Posidonia event which takes place in Athens, Greece from June 2 to 6 is the largest gathering of international ship owners in the world, with attendance at this year’s event expected to exceed the more than 1,870 exhibitors and 18,500 buyers from 92 countries who attended the 2012 event. Earlier this year, Posidonia unveiled the Conferences and Seminars Programme that complements the Posidonia Exhibition. Senior shipping figures will debate emerging trends for an insightful look into the industry’s future. Organisers say some of the hottest and most challenging issues pertaining to the global shipping industry will be tabled and debated during the series of conferences, panel discussions and seminars at this year’s event. *“In an increasingly global economy entities such as those in the maritime sector which transact business in multiple jurisdictions value the importance of properly structured corporate affairs to take advantage of regional and multilateral trade opportunities, tax incentives and mitigation, profits re-allocation, transfer pricing, and double taxation treaty enhancements,”* says Aliya Allen, BFSB’s CEO and Executive Director. *“Consequently the creation of a permanent establishment in a tax-neutral jurisdiction such as The Bahamas has a number of business benefits.“* BMA’s high regard in the maritime industry provides BFSB with a strong platform for promoting the country’s financial services offerings to ship owners with broad ranging and at times complex financial requirements according to Ms. Allen. *“The emergence of The Bahamas as a captive insurance domicile and the attractiveness of the jurisdiction as a commodities trading hub are also advantages that should be of interest to those attending Posidonia,”* she says. The Bahamas growing maritime sector revolving around ship registry services and shipping companies and its well established financial services community including diverse banking services and consulting expertise in the areas of legal, accounting, tax, compliance and corporate governance matters are elements of a country poised to become a regional hub for commodity trading activity. *“For ship owners,”* says Ms. Allen, *“there is also the additional advantage of Grand Bahama’s free trade zone which is also home to one of the most efficient harbours in the region as well as an international business and logistics park for value added and cargo handling activities.”* Posidonia is organised under the auspices of the Greek shipping community and the five major associations representing Greek shipowner interests: Hellenic Chamber of Shipping; Union of Greek Shipowners; Greek Shipping Co-operation Committee; Hellenic Shortsea Shipowners Association; and Association of Passenger Shipping Companies.

A delegation of senior government officials from the [Bahamas Maritime Authority](http://www.bahamasmaritime.com/) (BMA) recently traveled to Rio de Janeiro for meetings with existing and potential clients in Brazil. The BMA says the visit was designed to consolidate existing relationships and to seek new business opportunities in the fastest growing oil and gas offshore market in the world. According to BMA Chairman Anthony Kikivarakis, service was the central theme in every meeting held. *“The Bahamas prides itself on service and sees the shipping industry and related services as the third pillar of its economy,”* he said. BMA’s delegation was led by Board Chairman Anthony Kikivarakis, and included Peter John Goulandris, Deputy Chairman; Commodore Davy Rolle, Managing Director’ and Deputy Directors, Captain Dwain Hutchinson, Seafarers & Manning, Stephen Keenan, Inspections & Surveys, and Christine Scavella, Registrar NY. The BMA held talks with the Maritime Authority of Brazil and with Vice Admiral Raul Bittencourt, Deputy Executive Secretary, Brazilian Navy Directorate of Ports and Coasts, and also visited the Brasa Shipyard in Niteroi, where they saw fabrication of topside modules for a Floating, Production, Storage and Offloading (FPSO) unit. Also scheduled were meetings with: * Petrobras – the Brazilian integrated oil and gas company which is the world’s 7th largest and with operations in 25 countries. * Companhia Vale do Rio Doce – a Brazilian multi-national diversified metals and mining corporation, one of the largest logistics operators in Brazil, the second largest mining company in the world and an operator of large bulk carriers. * V. Ships Brazil – a leading supplier of independent ship management and related marine services to the global shipping industry. * MODEC Services de Petoleo do Brazil – a general contractor specializing in engineering, procurement, construction and installation of floating production systems. * SBM (Single Buoy Mooring) Offshore – Rio Office – a leader in floating production and mooring systems, in production operations and in terminals and services. * Stena Bulk – a world leading tanker shipping company. * Odebrecht Oil and Gas Services – OOG provides integrated, customized solutions for the upstream oil industry in Brazil and around the world. * Teekay – the world’s leading midstream marine services company and a vital link in the global energy supply chain. * Seadrill – a leading offshore deep water drilling company. The face-to-face exercises with clients and potential clients as well as the on-hand technical expertise were well received by the delegation’s Brazilian hosts. The BMA’s objective is not only to increase its tonnage but as part of the global shipping industry, to promote safety, security and the protection of the environment. The Authority currently is ranked 5th among Flag States with more than 1600 ships on the Register and a gross tonnage of 57 million. The BMA is planning to revisit Brazil later this year in order to maintain this positive momentum and relationships developed during its April initiative.

In an address to the Grand Bahama Chamber of Commerce on Wednesday, Grand Bahama Port Authority (GBPA) Chairman Ian Fair called for all involved in the jurisdiction’s maritime industries to unite under a “Maritime Bahamas” brand. This, he said, would allow all to feed off their respective strengths and develop strategies that would benefit the sector as a whole. The Chairman said The Bahamas has the potential to become even more of a major maritime player in the Western Hemisphere given its location, tax regime, existing harbours and the services provided to seafaring vessels. The maritime industry is considered to be the third largest contributor to the Bahamian economy, with the Bahamas Ship Register having almost 1,700 vessels, representing 57 million gross tonnes. That being said, Mr. Fair pointed out *”We do not intend to rest on our laurels. Our vision is to have all these maritime industries and organisations join forces and coordinate their approach to the rest of the world. This would bring benefits to all Bahamians,”* Mr Fair said. His vision for Maritime Bahamas includes a coordinating team but he says modern communications would make it possible to involve virtually all interested parties in the broader policy decisions. It could become a ‘one stop shop’ for those making enquiries about maritime business in The Bahamas; ensure that any presence at international conferences and exhibitions reflects the full range of maritime interests and possibilities within The Bahamas; and advise on careers in the sector. *“By having maritime interests talking to one another, fresh ideas would emerge to enhance the future for all.”* The Chairman also spoke to the maritime industry’s huge potential to generate extra work and spin-offs for the Bahamian financial services industry – including the insurance sector, accountants and attorneys – and said there are lessons to be learned from other small island states that have exploited the maritime sector. For example, both Cyprus and the Isle of Man have attracted large numbers of ship management countries, with finance houses and insurance companies following these firms to the latter jurisdiction. *“The Bahamas could use its proximity to the Americas to do the same, and also market the attractions of its tax system – as Singapore did to attract Japanese shipping owners.”* Mr. Fair took the opportunity of the Chamber presentation to announce plans to host a high level Bahamas International Business Forum in Freeport during February 2013, in conjunction with the Commonwealth Business Council. *”The Council has much experience in organising such events, and in identifying international persons of interest to attend,”* he said. GBPA plans also include a number of promotional visits overseas, with Asia, South America and Europe identified as initial targets. *“The key message is what Grand Bahama has to offer as a global shipping and business centre in preparation for the opening of the expanded Panama Canal in 2014. As a result of our strategic location we can – and should – be a major beneficiary of the increased trade flows from this expansion.”*

Maritime studies students now have the opportunity for a dual degree from the [College of The Bahamas](http://www.cob.edu.bs) (COB) and the [State University of New York](http://www.sunymaritime.edu) (SUNY) Maritime College. The COB has signed a Memorandum of Understanding with SUNY for a Maritime Studies Baccalaureate degree programme — a flagship offering of the its Northern Bahamas campus (NBC) in Grand Bahama. Effectively, successful graduates will receive a degree from the college and another from SUNY Maritime College in two disciplines: Bachelor of Science in Maritime Operations Engine Licence and Bachelor of Science in Maritime Operations Unlimited Deck Licence. The Baccalaureate degree programmes will raise awareness of the maritime industry and opportunities that exist for Bahamians. Dr Brendamae Cleare, Interim Vice President for Academic Affairs at COB points out, *“The Bahamas is perfectly poised to become a centre of maritime excellence.”* Captain Walt Nadolny, Vice Chairman of the Marine Transportation Department and Assistant Professor of Environmental Policy and Management at SUNY Maritime College, adds *“We’ve had a history of Bahamian students so this seemed like a very natural fit.”* SUNY is an undergraduate and graduate institution focused on engineering, business, science, and maritime transportation. U.S. News & World Report has ranked SUNY Maritime College as a top tier regional college and 6th overall among public baccalaureate colleges in the North, and in 2011 The Princeton Review named the College a “best Northeastern college” in America. Students will study at COB’s campus in Grand Bahama for the first three semesters, SUNY for the next four and the final semester will be taught at COB’s main campus. Students will spend their summers at sea, fulfilling the practical component of the degree programme and learning how to become adept seafarers. Dr. Richard Burke, Professor and Chairman of Engineering at SUNY says, the United States and The Bahamas are neighbours and it is the neighbourly thing to do, to work together for a common purpose. *“And it allows us to, vicariously perhaps, share in the justifiable pride in having a flag that has become very significant in the ports of the world.”* The international shipping industry employs some 1.25 million seafarers, thousands of whom are attached to vessels that sail under the Bahamas Flag.