Haywards ready for GBPA ‘sell down’ to right partner

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Hayward family is willing to part with some of its Grand Bahama Port Authority (GBPA) ownership interest to aid Freeport’s revival, it was revealed yesterday, but does not believe the Government should take “majority” control.

Rupert Hayward, grandson of former GBPA co-chair, Sir Jack Hayward, told Tribune Business his family is “here to stay”and ready to sell a portion of its 50 percent GBPA equity ownership “to the right partners at the right price” - so that Freeport can attract the investment and skills it needs to drive the city’s transformation.

• Not in favour of Gov’t ‘majority’ Freeport control

• Sir Jack’s grandson says family is ‘here to stay’

• Warns fight over Port is ‘only to GB’s detriment’

Speaking after Prime Minister Philip Davis KC last week placed the GBPA and its owners, the Hayward and St George families, on notice that he plans to take “decisive action” to reverse Freeport’s near two-decade decline, he said himself and “blue chip” partners have already presented the

Government with a plan to do just that.

Warning that “fighting between key stakeholders will only be to the detriment of the people of Grand Bahama”, Mr Hayward told this newspaper he hopes Mr Davis will “actively support” his proposal given that the Government plays a major percent Port Department fee, Mr Maury queried whether the Government’s “intention is to kill the marinas”.

The Ports Authorities (Amendment) Bill 2023 stipulates in its “objects and reasons” section that the purpose is “to increase the fee payable for the use of various marine structures” such as docks, jetties, groins, moorings, causeways and pipelines. And the “pierage rate”, based on a vessel’s registered length, is to increase by one cent per foot to eight cents.

“It’s a 20 percent increase on the docks,” Mr Maury told Tribune Business of the per foot fee to be paid by marinas’ commercial vessel customers with effect from

SEE PAGE B6

• Ex-ABM chief singles out 20% dock fee hike

• Warns Bahamian operators may absorb rise

• Also fears ‘prohibitive’ registration fee jump