Offshore Bulk Transshipment Port

Industry: Maritime

Project: Establishment of Offshore Bulk Transshipment Port

Overview

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 containerised transshipment. In Trinidad and Tobago, the maritime sector is in the early growth stages. The current situation is that Trinidad and Tobago has six ports of entry, one coastal bauxite transshipment port and one offshore iron ore transshipment facility. The iron ore transshipment facility is currently 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.

Strategic Relevance

To promote Trinidad and Tobago as a preferred destination along the eastern coast of the Americas for safe and strategic transshipment of bulk goods.

Location

Gulf of Paria 

Total Investment Required

Approximately US$40 million

Detailed Description of Project

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

Trinidad and Tobago offers significant advantages for the establishment of a transshipment port in the Gulf of Paria. These include:

- 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

The fiscal and other incentives applicable for the project include: 

- 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

Type of Investment Required/Desired Participation

Shipping companies currently servicing this route.  

 

Contact Us

Craig Watkins

Investment Officer

Craig@investt.co.tt







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InvesTT Limited
Trinidad and Tobago
El Socorro, PoS
Trinidad and Tobago

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