Establishment of Offshore Bulk Transshipment Port

Establishment of Offshore Bulk Transshipment Port

This project aims to establish an offshore bulk transshipment facility for transshipment of goods traveling from South America to Panama.

A Preferred Destination

Safe & strategic transshipment of bulk goods

The maritime industry value chain comprises ship repair and maintenance, transshipment, small craft construction, marine equipment and marine electronics. The transshipment industry is made up of companies engaged in land-based or offshore transshipment, as well as bulk and containerized transshipment.

In Trinidad and Tobago, the maritime sector is in its early growth stages. Currently, the country has six ports of entry, one coastal bauxite transshipment port and one offshore iron ore transshipment facility. The iron ore transshipment facility is run at 100 percent capacity and as such, there is room in the industry for other players.This project aims to establish an offshore bulk transshipment facility for transshipment of goods traveling from South America to Panama.

Investment Opportunity

  • Investment Requirement

    Approx. US$40M
  • Type of Investment

    Shipping companies currently servicing the South America/Panama route
  • Location

    Gulf of Paria

The project

Offshore bulk transshipment

The proposed project would allow Trinidad and Tobago to capture some of the high demand for transshipment facilities in a safe location en-route from South America. The proposed site for the project is in the Gulf of Paria. Some of the goods that are currently transshipped en-route to the Panama Canal are:

  • Iron ore
  • Bauxite
  • Lumber
  • Sugar
  • Rice
  • Coffee & cocoa
  • Nuts
  • Molasses

Competitive Advantages

  • One of the world’s lowest energy rates
  • Ideally located en route to the Panama Canal
  • The largest natural harbour in the region
  • Strategic location at the heart of the Americas close to highly active shipping lanes
  • A large pool of locally-trained marine professionals
  • Two world-class tertiary level institutions providing training for locals in marine studies
  • Attractive package of fiscal and non-fiscal incentives for FDI

Incentives

  • Exemption from customs duties on the construction 
  • Exemption from value-added tax
  • Exemption from income tax on dividends or other distribution, other than interest, out of profits or gains 
  • Duty-free treatment of raw materials, machinery and equipment

Talk to our expert

Investments

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