InvesTT Promotes Investment Opportunities in the Maritime and Logistics Industries

InvesTT Promotes Investment Opportunities in the Maritime and Logistics Industries

Sean Patience, Managing Director of Cargo Consolidators
The Maritime and Logistics industries in Trinidad and Tobago are experiencing a shifting focus under the impact of the ongoing pandemic. New demands for self-sustainability and diversification goals have pushed to the forefront exciting investment opportunities such as third-party logistics. InvesTT Limited took the lead in showcasing existing opportunities in these industries during a panel discussion during the Trinidad &Tobago Virtual Investment Forum held in November.
According to Sean Patience, Managing Director of Cargo Consolidators, during his contribution to the discussion, the exploding transportation cost of goods has increased the demand for third party logistic providers as an option for companies wanting to test the Latin America and Caribbean markets as well as the North American market before committing to enter. He further explained that shipping and logistics have shifted from the operational mode of delivery-on-time to logistics, warehousing and distribution. 
Ronald Alfred, Director, Maritime Services Division, Ministry of Works and Transport

Investment opportunities highlighted by the panel also included ship lay-ups. Speaking about the maritime history of Trinidad and Tobago, Ronald Alfred, Director, Maritime Services Division, Ministry of Works and Transport shared that, “Trinidad and Tobago is one of the few areas in the Western Hemisphere where lay-ups occur.” He added that the state welcomes investments in lay-up and transshipment activities. He also noted that there was a lack of marina facilities in Trinidad and emphasized the state’s interest in facilitating an investment of this nature. 
New investment criteria that speaks to loyalty, environmental impact and sustainability are also anticipated as a result of increased focus on the environment. 

Titled Maritime & Logistics: Distribution Dynamics and the Related Logistics Opportunities for Nearshoring in the Caribbean, the panel discussion was held during Day 2 of the Trinidad & Tobago Virtual Investment Forum. It was moderated by Craig Watkins, Senior Investment Officer, InvesTT while the panel comprised Ronald Alfred, Director, Maritime Services Division, Ministry of Works and Transport, Hayden Alleyne, President, The Shipping Association of Trinidad and Tobago and Sean Patience, Managing Director, Cargo Consolidators Agency Limited.

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