By BARBARA WALKIN
FREEPORT, Grand Bahama, April 2, 2024 — The Grand Bahama Shipyard is on track to become the largest floating dock ship repair facility in the hemisphere by 2026, said the company’s Chief Financial Officer Linda Turnquest.
Toward the end of 2023, the shipyard announced a $600 million transformation, which is well underway to prepare for the arrival of two new docks.
“The smaller of our two docks, affectionately dubbed 2XL, boasts of a lifting capacity of 93,500 tons with an overall length of 357.39 meters or 1,172.54 ft.,” Turnquest said.
She said the 2XL will be able to dock 90 percent of the existing cruise ships in the world.
“We’re saying that this is the smaller of the two new docks, but this will be the biggest dock in this hemisphere.”
The 2XL is expected to arrive in the fourth quarter of 2025 and will dock the first ship on January 1, 2026.
Meanwhile, Turnquest said, the second of the two docks, with a lifting capacity of 130,000 tons and an overall length of 1,358 ft., will arrive in Freeport in the third quarter of 2026.
“That is our mega dock. It will go into service in the fourth quarter of 2026,” she said. “With the arrival of the two dry docks, we will break our own record of having the largest floating dock in the hemisphere. We then will have the largest floating dock in the entire world.”
Turnquest said the multi-million-dollar investment heralds a new era of growth for Grand Bahama Shipyard.
“Our shareholders’ investment underscores their confidence and the future of our yard. But let me be clear, it is not a donation, it is an investment we are committed to repay through hard work, innovation and strategic vision.”
She said it is projected that the company’s $80 million turnover to date, will grow to $250 million within the next five years.
“This growth is not wishful thinking, it is grounded in the reality of an expanding cruise ship industry, and the increasing demand for the LNG tanker docking and repairs,” Turnquest said. “Moreover, our reputation as being the most efficient yard in the Caribbean, and on the Eastern Seaboard of the US, positions us as a prime destination for ship maintenance and repair.”
Noting that the market is not only stable but is thriving, Turnquest added, “With the two new state-of-the-art docks, the culmination of extensive collaboration with CSSC Qingdado Beihai Shipbuilding Co. Ltd we are poised to revolutionize the landscape of ship repair.”
Responding to the question of how the docks will be transported, Turquest explained: “The 2XL will be transported onboard the heavy-lift ship, Boca Vanguard, in one piece. On its arrival, it will be floated into position on its mooring. To enable the mega dock to be transported, it will be divided into four sections. The two smaller sections will be turned 90-degrees and placed in the larger sections. They will be loaded on two heavy lift ships and shipped to Freeport.”
The sections will be joined afloat at the shipyard.
Turnquest said, “QDSIC will have overall responsibility for the joining, but the work will be carried out by GB Shipyard and a number of other sub-contractors. These docks are equipped with cutting edge technology and world-class infrastructure that will not only bolster our capabilities but cement our status as a global leader in ship repair sector.”
The shipyard has overcome a number of challenges in the past five years, including losing two of its three docks in 2019, and then having to shut down due to COVID.
“However, going through those adversities challenged us as a company and caused us to come out of our proverbial comfort zone,” Turnquest said. “Looking ahead to 2025 and beyond, our dock is already booked solid with foreign reservations stretching out to 2029. Our clientele includes industry giants such as Carnival, Holland America, Princess Cruises, Royal Caribbean, Celebrity, Virgin, Viking, Norwegian Cruise Line and MSC.”
Turnquest said their continued patronage speaks volumes about the company’s commitment to excellence and reliability.
“They attest to the trust and confidence placed in Grand Bahama Shipyard,” she said.
