Bahamas government to invest US$665 million in shipyard expansion

The government of the Bahamas has entered into a formal agreement with Grand Bahama Shipyard to finalise the latter's revitalisation and capacity expansion project.

A total investment of approximately US$665 million will be made with the aim of expanding the yard's ability to maintain and repair large vessels, particularly cruise ships and merchant ships.

The expansion project first received government approval in the second half of 2023. Once completed, the upgraded Grand Bahama Shipyard will have a projected annual revenue of US$350 million.

The scope of the expansion will encompass the construction of two new floating docks and the installation of supporting marine infrastructure and other facilities.

One of the new drydocks to be built will replace an earlier one that was damaged in April 2019 in an incident involving a crane as the cruise ship Oasis of the Seas was undergoing scheduled maintenance at the yard. The ship also suffered damage and eight dock workers suffered non-life-threatening injuries.