Carnival Corporation, Royal Caribbean Group and Grand Bahama Port Authority received permission from the Bahamian government to expand and revitalize the Grand Bahama Shipyard. The completed project is expected to bring billions of dollars to Grand Bahamas’ economy over the next 25 years.
The project is a $600 million investment that will bring the Grand Bahama Shipyard back to one of the world’s largest and most modern shipyards for cruise ships. The project includes two world-class floating docks that will allow the shipyard to service all cruise ships along with much of the world’s commercial fleet. The docks are currently under construction in China at the CSSC Qingdao Beihai Shipbuilding Company to be delivered in 2025 and 2026. Once completed the docks will be among the largest floating docks in the Western Hemisphere. The expansion will allow the shipyard to have five vessels in dry dock at the same time.
“The $600 million transformation of the Grand Bahama Shipyard marks a monumental investment for Grand Bahama. The shipyard has always been an important contributor to Grand Bahamas’ economy, and this ambitious project will continue the revitalization of our local economy,” said Minister for Grand Bahama Ginger Moxey.
The shipyard is currently the Bahamas largest private non-tourism employer and the expansion is expected to create more jobs for Bahamians, local businesses and contractors. The shipyard itself will have hundreds of full-time positions available once it is fully operational. The shipyard is also expanding its apprenticeship program including 16 to 20 new apprentices annually. The four-year program works with technical colleges to train Bahamians for the marine trade workforce.
Carnival Corporation CEO Josh Weinstein said, “For half a century, we have worked side by side with the Bahamas and Bahamian businesses and contributed to the growth of the Bahamian economy while delivering unforgettable cruise vacations to millions of people. The success of our enduring partnership is built on our shared conviction that people must always be at the forefront of our thinking. That mindset is evident in the Grand Bahama Shipyard transformation project, which invests significantly in local businesses, creates jobs and contributes to a legacy of economic vitality in the country.”
Royal Caribbean Group has also partnered with The Bahamas for over 50 years offering amazing vacations to its guests. Jason Liberty, president and CEO of Royal Caribbean Group said, “We are proud to expand our longstanding partnership and see establishing Grand Bahama as a premier maritime destination for repair and revitalization of all kinds of vessels, as a project that will drive economic growth for the Bahamian industry and create a positive impact for the people of the Bahamas for generations to come.”
Once completed, the Grand Bahama Shipyard will be able to substantially increase the number of dry docks performed annually keeping larger ships from Carnival, Royal, and more closer to their Florida and Caribbean ports instead of turning to Europe for their regular maintenance schedules.