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WEDNESDAY, JANUARY 6, 2021

$3.98 Bahamas to know if ‘oil rich’ within six weeks, says BPC

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMAS Petroleum Company (BPC) yesterday hailed a Supreme Court verdict that likely removes all obstacles to completion of its first exploratory oil well within the scheduled 45-60 day timeframe. The oil explorer, in a statement issued last night, argued that Justice Petra Hanna-Adderley’s decision not to grant a “stay” that would have halted its Perseverance One well meant Bahamians will “likely know within four to six weeks whether they are an oil-rich nation”. While the Supreme Court gave BPC’s opponents permission to proceed with their Judicial Review challenge to the project’s permits and approvals, the hearing on the merits of their claim will likely only take place between February 17-18 at the earliest. Given that Perseverance One, which has been spud in waters 90 miles west of Andros, started on December 20, 2020, and is estimated to take between 45-60 days to complete, there is every possibility that exploratory drilling will have finished or be near to finishing by the time the court date comes around. The February 17, 2021, date is some 59 days after the drilling started. Simon Potter, BPC’s chief executive, argued that Justice Hanna-Adderley’s ruling will allow the company, the government and Bahamian people to soon know whether commercial quantities of extractable oil exist beneath this country’s waters. While analysis of the results may take slightly longer than the four to six weeks indicated, Mr Potter said: “Today’s court ruling means that the drilling of Perseverance One will continue, in accordance with our licence obligations and consistent with the permits issued to BPC by the Government of The Bahamas. “Those drilling operations, which have been underway since December 20, 2020, have the well on track to provide results within the 45 to 60-day period the company has consistently advised. It is thus clear now that the environmentalist applicants have failed in their last-minute attempt to interrupt the drilling of Perseverance One and the government’s legitimate assessment of hydrocarbon resource potential in the

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Wrong e-mail caused blacklisting by France By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

SIMON POTTER

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HE Bahamas was blacklisted by France because of an incorrect e-mail address, the attorney general has revealed to Tribune Business. Carl Bethel QC disclosed that French requests for information on the tax affairs of its citizens and companies had not been answered by The Bahamas because they were being sent to an e-mail address that was not being monitored by the Ministry of Finance. He added that once the problem was identified The Bahamas moved rapidly to address it, ensuring that French tax information exchange requests made under the Organisation for Economic Co-Operation and Development’s

• AG: Tax info requests went to incorrect address • Promises that ‘all concerns were addressed’ • Bahamas beefing-up ‘profile’ within Europe

CARL BETHEL QC (OECD) common reporting standard (CRS) and other applicable treaties were responded to appropriately and within the required time. While France has yet to publicly confirm that The Bahamas has satisfied its concerns, and removed this nation from its so-called

national “blacklist”, Mr Bethel said he was confident “we have addressed the issues” that caused the problem to arise. He did not say who was responsible for the wrong address, or how many requests were involved. “The French CRS requests for information were not getting through to us. We’ve found out what the problem was and addressed all their concerns,” he told this newspaper. “The French had justifiable concerns. “Once we did an investigation we found there was a gap in our system where they were sending [the information requests] to one e-mail address that nobody looked at. Once we identified where they were

A PROMINENT QC yesterday urged the Town Planning Committee “to grab oil drilling by the horns” after it became embroiled in the escalating legal battle over exploration in Bahamian waters. Fred Smith QC, the Callenders & Co attorney and partner, told Tribune Business that Bahamas Petroleum Company (BPC) is “not out of the woods” yet despite Justice Petra Hanna-Adderley yesterday declining to grant a “stay” that would have halted drilling of its first

FRED SMITH QC

NIB rate hikes ‘always in play’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

the power to issue “a stop order” to BPC, on the basis that its well lacks the necessary “site plan approval” under the Planning and Subdivisions Act, after Justice Hanna-Adderley added the regulatory body as a “respondent” to his environmental activist clients’ Judicial Review challenge. She found that Waterkeepers Bahamas and the Coalition to Protect Clifton

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• QC: Body has power to halt BPC ‘overnight’ • Now it added to legal battle and Act applies • Judicial Review go-ahead ‘gold’ for activists exploratory well in waters 90 miles west of Andros. While BPC hailed the decision as virtually removing all potential legal obstacles to completion of its Perseverance One well (see other article on Page 1B), Mr Smith argued that judicial intervention was now not necessarily required to halt exploratory drilling that is now into its third week. He said the Town Planning Committee possesses

BRENSIL ROLLE

A CABINET minister yesterday said the government was mulling whether to implement National Insurance Board (NIB) rate increases that have long been put off. Brensil Rolle, minister for the public service with responsibility for NIB , said increasing the rates has “always been in discussion”. He added: “All of the previous directors have been pushing government to do just that. The government has not made that determination, though.” “We have got to take into consideration that during Dorian and this pandemic, the resources and the funding to the board has been diminished. We’ve got to make a decision to make sure the board continues to be able to serve, and that may mean consideration will be given to the recommendation that has been advanced to us many, many times by actuaries.” Mr Rolle said any conversation over an NIB rate increase needs to have a “national scope”, and the Bahamian people must be involved in the decision. NIB contributions, which take the form of a payroll tax, are currently split 3.9 percent/5.9 percent between employee and employer, respectively. Peter Goudie, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) labour specialist, told Tribune Business that increasing NIB’s contribution rates had been

sending it we found them, and the Ministry of Finance addressed every last once.” France’s decision to “blacklist” The Bahamas in December 2019 was greeted with outrage by the government and its ministers. K Peter Turnquest, former deputy prime minister and minister of finance, slammed the move as “devious” as he voiced his “total disgust” at the action. Slamming the “surreptitious” decision as “an affront” to international diplomatic norms, and the relationship this nation had sought to build with France, Mr Turnquest said then that The Bahamas’ inclusion

Town Planning urged: ‘Grab oil exploration by the horns’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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NIB rate hikes: ‘Can’t get water from stone’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

BUSINESSES yesterday said talk of National Insurance Board (NIB) rate hikes is “a sign of what’s to come”, as they warned the government: “You cannot get water out of a stone.” Branville McCartney, the former Democratic National Alliance (DNA) leader, whose business interests include a law firm, pharmacy, private school and real estate, told Tribune Business that raising social security contribution rates now would be “terribly timed” given the economy’s continuing struggles to rebound from COVID-19’s devastation. Speaking after Brensil Rolle, minister with responsibility for National Insurance, suggested that “consideration must be given” to multiple calls for rate hikes if NIB is to meet its obligations to the Bahamian people, Mr McCartney said any increase would be a

• Bran: ‘Sign’ of austerity that will come • But increase now is ‘terrible timing’ • Accountability urged before rate rise

BRANVILLE MCCARTNEY

BEN ALBURY

tantamount to a tax rise that further depressed business profits and employees’ take home pay and spending. He admitted that talk of such increases was a further signal that The Bahamas and its people now face “an extremely tough decade” of austerity measures, including new and/or increased taxes and public spending

cuts, to pay for the COVID19 and Hurricane Dorian blow-out that has rapidly worsened a bad fiscal situation. “The business community is suffering as it is now,” Mr McCartney said in response to Mr Rolle’s comments. “Last year, I’m sure, the majority of companies would have seen the

worst business year perhaps in their existence. There has to be a balancing act when the government makes this determination to increase what is an indirect tax on the business community. “Don’t get me wrong. I understand what the government is trying to do. On the one hand, the government is trying to get money into NIB’s coffers because it has spent so much because of COVID-19, but you don’t want to cause businesses more strain because it leads to them going out of business and puts the strain on government.” NIB contributions, which take the form of a payroll tax, are currently split 3.9 percent/5.9 percent between employee and employer, respectively. Any increase would represent a rise in marginal labour costs, and

could prompt companies to either terminate some staff or freeze hiring at a time when the economy is burdened with a jobless rate some say is as high as 40-50 percent. Picking up this theme, Mr McCartney said any NIB rate increase that causes such developments would ultimately rebound on the government and social security system and be counter-productive, as they would become responsible for picking up the costs associated with increased unemployment. “You cannot draw water out of a stone,” he warned the government, “when businesses are taxed to the maximum with VAT, and the business licence fee is due in short order. I hope it doesn’t make the average business unsustainable by adding more taxes, whether it is indirect or not, to the business community. “It is terribly timed. People are wondering now...

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PAGE 2, Wednesday, January 6, 2021

THE TRIBUNE

TOURISM LOSES ‘GIANT OF A MAN’ B

AHAMIAN hotel executives yesterday said the tourism industry has “lost a giant of a man” after Sandals founder, Gordon ‘Butch’ Stewart, died in hospital aged 79. “The world has lost a giant of a man; the tourism industry has lost a visionary. More than any other individual, Butch has influenced the trajectory of tourism in the entire region,” said Robert Sands, the Bahamas Hotel and Tourism Association’s (BHTA) president. “His contribution to The Bahamas cannot be defined in mere dollar value; he set the bar for excellence, and he inspired us to exceed it.” The BHTA’s BUTCH STEWART newly-installed senior vicepresident, Jackson Weech, whose background is the all-inclusive model that Sandals Sandals became known for, Royal Bahamian Resort said: “Mr Stewart always and Spa opened in 1996 said: ‘Find out what people after Mr Stewart acquired want, give it to them and, the property several years in doing so, exceed their earlier from the Hotel expectations’. A sound Corporation, as the thenand simple philosophy that Ingraham administration would become a standard sought to get the Govmantra in industry. One we ernment out of the resort strove to achieve.” business. Mr Stewart and SanHe and Sandals later resdals joined Sol Kerzner in cued another Bahamian playing a key role in the resort, acquiring Exuma’s Bahamian tourism indus- Emerald Bay property from try’s 1990s revitalisation. its receivers in the early

Bahamas to know if ‘oil rich’ within six weeks, says BPC FROM PAGE ONE southern seas of The Bahamas.” Justice Hanna-Adderley’s ruling allows both sides to claim victory. BPC got the main result it was after, which is the uninterrupted continuation of drilling and the avoidance of any

court-imposed halt that may have cost it $25m in extra direct costs at the rate of $350,000-$400,000 per day. BPC had previously warned that its “major $100m asset will be extinguished”, thereby threatening its survival, if the Supreme Court halted its oil drilling activities. Mr Potter had alleged that it would be impossible for the company to apply for the renewal of its five southern Bahamian licences by the

part of last decade. The Jamaican hotelier, who has established Sandals among the tourism industry’s leading all-inclusive brands, especially in the Caribbean, also has a high-end getaway at Fowl Cay in the Exumas chain. Carlton Russell, the BHTA’s immediate past president, said: “We will forever be grateful to Butch Stewart for his unwavering support, his faith in our country, in organisations

such as the BHTA. He has touched the lives of countless people, for the better. His legacy will live on through his family and the incredible team of people who work for and with the Stewarts in The Bahamas and throughout the Caribbean.” Mr Stewart was awarded the prestigious ‘Hotelier of the Year’ honour by the BHTA at the 16th Cacique Awards ceremony, which was held at the Meliá Nassau Resort on Saturday, January 24, 2015. Vernice Walkine, the BHTA’s vice-president for allied members, and Nassau Airport Development Company’s president and chief executive, said of Mr Stewart: “He was such a pioneer; a genius, really. He created a whole new tourism/hospitality sector in luxury all-inclusive; he perfected the all-inclusive.” Sandals and Beaches Resorts, through its philanthropic arm, The Sandals Foundation, has also positively impacted the lives of “over 840,000 people across the Caribbean” though its’ charitable efforts. Dr Hubert Minnis, in a statement issued yesterday, said Mr Stewart’s passing had “saddened and shocked The Bahamas and the region”. The

Prime Minister added: “At a time when the Bahamas was looking for investors to acquire government-owned hotels, he was the first in line, transforming the Balmoral into the Sandals Royal Bahamian. “He significantly and immediately added to the number of rooms and employees of the resort, and the reputation of The Bahamas. He was famously enthusiastic about the extraordinary potential of the Caribbean, and often remarked about the still untapped potential of the islands of The Bahamas. He moved a number of significant corporate functions of the brand to The Bahamas.” Turning to the Sandals’ founder’s impact on regional tourism, the Prime Minister said: “He was a leading pioneer in tourism, whose all-inclusive resorts became an iconic global brand. He competed successfully with other international brands. “His commitment to the region was manifest in the economic impact of his properties throughout the region, including his resorts in The Bahamas at Sandals Royal Bahamian on New Providence and at Fowl Cay and Emerald Bay in the Exumas. He was a

great friend and lover of the islands of The Bahamas and the Bahamian people.” The Ministry of Tourism, in its own tribute, said Sandals had become “an integral part” of the Bahamian tourism product. It added: “Butch Stewart’s contribution to The Bahamas over the past 20 years has been national in scope, and deeply personal to the lives of thousands of our fellow Bahamians who, through employment with the Sandals brands, have built sustainable careers, homes and families... “History will record Gordon ‘Butch’ Stewart as a game changer in the delivery of the globally-coveted Caribbean vacation product, having elevated the all-inclusive resort model to a five-star, world class experience.” Dionisio D’Aguilar, minister of tourism and aviation, added: “We are deeply saddened by the loss of Butch Stewart, a key partner in our tourism enterprise, who has left an indelible mark on the Bahamas’ hospitality sector. “Butch’s vision for hospitality will live on to be enjoyed by future guests at Nassau’s Royal Bahamian as well as Sandals Emerald Bay and Fowl Cay Resort in Exuma.”

March 31, 2021, deadline unless it was able to complete its Perseverance Once exploratory well within the targeted 45-60 days. And, ominously, he warned that any Supreme Court-enforced drilling halt that deprived BPC of its ability to rely on the Environmental Authorisation (EA) approval granted by the government on February 25, 2020, could “impair The Bahamas’ reputation as a reliable and predictable

investment destination”. And, “at worst”, Mr Potter said it could spark multiple legal claims in numerous countries. As for the environmental activists, their Judicial Review challenge to the project’s permits and approvals moves on. However, Mr Potter said: “Notwithstanding this positive outcome for completing Perseverance One well, the company will continue to vigorously oppose any

applications for Judicial Review if they continue to proceed. “This is because whilst the court has today granted the applicants leave to bring their applications, that is all that it is: Leave to bring an action. These applications now still need to be brought, heard and determined, and BPC remains firm in its view that the applications themselves are without substantive legal merit, and will not withstand the scrutiny

of a full and vigorous legal process. “Equally, prior to that, a number of important issues remain to be resolved, including the question of BPC being included as a party, and the question of the applicants providing security for costs, and BPC considers it important to ensure that each of these items is dealt with according to law such that the applicants be held accountable for the consequences of their actions.”

THE TRIBUNE

Wednesday, January 6, 2021, PAGE 3

Minister ‘impressed’ over tourism COVID protocols By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A CABINET minister yesterday said he was “incredibly impressed” with how well The Bahamas’ COVID-19 tourism entry protocols worked over the Christmas period despite ongoing complaints. Dionisio D’Aguilar, minister of tourism and aviation, said he was “pleasantly surprised” by

visitor feedback on how the COVID-19 health protocols and testing was working for them over the Christmas and New Year holiday. He added: “I was incredibly impressed at how well the process worked, the (health) visa process, the five-day testing process. Visitors told me time and time again that they felt safe coming to the Bahamas; they felt that the process wasn’t too cumbersome,” Mr D’Aguilar said.

The Tribune, though, still continues to carry letters from multiple second homeowners, potential visitors and their travel advisers who argue that the process of obtaining a negative COVID-19 PCR test in the five-day window prior to travelling, plus completing the health visa and getting it approved, is still too costly, cumbersome and fraught with uncertainty. Meanwhile Graeme Davis, Baha Mar’s chief executive, told Tribune Business that the Cable Beach mega resort’s early 2021 occupancy forecasts are “on track” despite the challenges posed by reduced airlift and the surge in COVID-19 cases in the US. With Atlantis experiencing similar difficulties, he said: “We are working diligently to restore business levels and continue the road to economic recovery for Baha Mar and the whole country. The surge of coronavirus cases in key US feeder markets, in addition to decreased airlift along with local and international travel restrictions, certainly pose challenges

JUDGE: OIL OPPONENTS MAKE ‘ARGUABLE CASE’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

A SUPREME Court judge yesterday gave the go-ahead for a legal challenge aiming to halt oil drilling in Bahamian waters after finding activists had made out an “arguable case”. Justice Petra HannaAdderley, though, allowed the Bahamas Petroleum Company (BPC) to continue drilling its first exploratory, called Perseverance One, in waters 90 miles west of Andros after refusing to grant the stay demanded by Waterkeepers Bahamas and the Coalition to Protect Clifton Bay. In a ruling that effectively allows both BPC and its environmental activist opponents to claim victory, the judge said the latter had a “low threshold to meet” to obtain the Supreme Court’s permission for their Judicial Review to proceed. This, Justice Hanna-Adderley found, they have done, and she also ruled they

have a “sufficient interest” to bring the action. In particular, the judge said the activists and their attorney, Fred Smith QC, the Callenders & Co partner, had made an arguable case that BPC should have obtained site plan approval for its well from the Town Planning Committee under the Planning and Subdivisions Act. This is something the oil explorer appears to have failed to do. Significantly, Justice Hanna-Adderley also found that the activists had created no disadvantage, or prejudice, to BPC and the government by seeking to challenge the project’s permits outside the six-month timeframe during which Judicial Review challenges are supposed to be heard under the Supreme Court rules. This means the Judicial Review will be able to challenge both BPC’s Environmental Authorisation (EA), which the government granted in February 2020, as well as the first extension to the oil

explorer’s licence that was made in April 2020. Justice Hanna-Weeks, though, did chastise the environmentalists for taking a “wait and see” approach over whether Romauld Ferreira, minister of the environment, would make good on his promise not to approve oil exploration in Bahamian waters. She said they should have proceeded with the application for Judicial Review as soon as they saw fit. Aiden Casey QC, the government’s lead attorney, said he will come back to the court once he and his team have “digested the ruling” and reviewed the judge’s reasons in full. Mr Smith did not object to the refusal of a stay that would have halted BPC’s oil drilling. Justice Hanna-Weeks also granted permission for the Town Planning Committee to be added to the proceedings as a respondent. All parties are expected back in court on January 14 for further hearings.

NIB rate hikes ‘always in play’ FROM PAGE ONE discussed for many years. He pointed to a Blue Ribbon Commission that was created to look at the issue, where it was decided that the rates needed to be increased. “Now is not the right time to try it,” he warned, though. “Maybe next year would be a better time.” Mr Rolle also spoke to reporters about the continuation of unemployment benefits, adding: “Government took the position that that benefits would go through the month of January. We did say that we will evaluate early this year, meaning this month, and a further determination will be made, but the

people benefits in excess of $100m.” Mr Rolle also responded to concerns about furloughed Baha Mar employees not receiving their $100 weekly unemployment benefit, adding: “Baha Mar has been taken care of.”

PETER GOUDIE government has been taking the position that it can offer assistance up to January. “From what I see in the numbers, it means the government would have directly given to the Bahamian people or transferred back to the Bahamian

DIONISIO D‘AGUILAR

GRAEMAE DAVIS

in attracting visitors to the destination. “However, we are on track with our occupancy forecasts, which predicted a slow start to the year, and thus we have scaled our operations and staffing accordingly. Our reopening on December 17 was a first and necessary step towards the financial stability of our 1,800 associates, who returned to the resort in phase one, and building consumer confidence for the future.” Mr D’Aguilar said visitors who came to The Bahamas over the Christmas period reported that “they had an excellent holiday and, as I said, they kept repeating over and over

again how safe they felt and how robust they felt that all protocols were. So they had a wonderful holiday”. Responding to concerns about Atlantis having to place some of its recalled 2,500 staff back on furlough due to low January occupancies, Mr D’Aguilar said Bahamians have to understand that global tourism is about 70 percent down from pre-COVID business volumes. He acknowledged that surging infection rates and deaths in key visitor markets, especially the US, are also a factor. Baha Mar’s Mr Davis said: “Regarding associates that remain furloughed, Baha Mar has extended its commitment to continue

ex-gratia payments and full medical benefits for another 30 days. We understand the challenges that COVID-19 has brought on to many of our employees and families, and we are closely monitoring global developments to determine when to reopen our additional hotels SLS and Rosewood in a sustainable way. “The health and safety of our guests, associates and the community continue to be Baha Mar’s highest priority. Due to the partnership with Doctor’s Hospital, the resort has been able to implement additional layers of safety by creating a unique programme for testing guests prior to check-in, along with weekly testing for all associates and vendors, resulting in over 15,000 rapid antigen tests conducted to date.” Mr Davis had last year said Baha Mar hoped to re-open its Rosewood and SLS properties in February 2021. His latest comments indicate this timeline has become more uncertain due to COVID-19 related volatility in the US and lack of airlift support at present.

Minister says no mass utilities disconnection By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE deputy prime minister yesterday said no mass disconnections of delinquent Bahamas Power & Light (BPL) and Water & Sewerage Corporation customers are being planned in the near future. Desmond Bannister, who is also minister of works with responsibility for both utilities, told reporters outside the Cabinet Office: “No, we’re not planning any massive disconnections. But I still want to urge every Bahamian who has a financial obligation to those utilities, please go in and make arrangements if you can’t pay. “But if you can pay, please pay. That’s the only way the rest of us can continue to have power and continue to have water, and that’s absolutely critical.” The financial viability of both state-owned utilities, which was tenuous before COVID-19, has dramatically worsened since the pandemic erupted. Adrian Gibson, the Water & Sewerage Corporation’s, said in October 2020 it faced a “roughly $9m shortfall” in residential customer payments as a result of being directed to cease all disconnection activity since late March 2020 due to the COVID-19 pandemic. And Mr Bannister himself warned in November 2020 that BPL has a minimum of $90m in accounts receivables owed to it each month by non-paying customers.

NOTICE Pursuant to the provisions of Section 138 (8) of the International Business Companies Act, 2000 of the Commonwealth of The Bahamas, notice is hereby given that GIRWOOD FINANCE CORPORATION LIMITED has been dissolved and struck off the Register as of 6TH. January 2021 VINCENT L. KING - Liquidator

DESMOND BANNISTER The deputy prime minister, turning to the proposed rate increases foreshadowed by Kwasi Thompson, minister of state for finance, said yesterday: “The studies are with the accounting firms that are doing the studies, and as soon as some advice is proffered Cabinet will make determinations as to where we go. “Right now there are no determinations because we have to have all of the data before us before we make decisions that impact the Bahamian people.” The timeline for these studies to be completed was not disclosed. However, Mr Bannister assured that the accountants are doing

a “thorough job”, and he will report to the Bahamian people when their work is completed. Mr Bannister said the Water & Sewerage Corporation needs significant capital funding for the projects it is undertaking, such as bringing water to Cat Island and the recentlycompleted water supply connection on Long Island. He added: “They’re the kinds of initiatives, even though we can’t do everything we want right now, we are making sure that Bahamians still have a decent standard of living. Those are the kinds of things that are very important that are happening right now.”

PAGE 6, Wednesday, January 6, 2021

THE TRIBUNE

Town Planning urged: ‘Grab oil exploration by the horns’ FROM PAGE ONE Bay (Save the Bays) had made an arguable case that the Planning and Subdivisions Act applies to BPC’s project, ruling that the Act’s section 4.1 definition of land “seems to suggest that the drill site is located within the territorial waters of The Bahamas and would be subject to” this law. BPC’s attorneys had previously argued that the Planning and Subdivisions Act applies only to land-based development activities, not offshore drilling in Bahamian waters, but with Justice HannaAdderley determining that it applied, Mr Smith challenged the Town Planning Committee and its chair, Adrian White, to act and use its powers to halt the oil explorer’s activities. While acknowledging his clients’ “disappointment” that BPC’s drilling is continuing, the outspoken QC argued that the explorer “is not out of the woods” because he had made “an arguable case” that it requires site plan approval under the Planning and Subdivisions Act for its project. BPC has yet to provide any evidence that it has such an approval, and Mr Smith said: “We were

ADRIAN WHITE successful in joining the Town Planning Committee, and I urge Adrian White, as chair of the committee, now that they are included, to take independent legal advice and, if advised the Act does apply, to take measures to stop illegal drilling. “They can issue a ‘stop order’ tomorrow. They don’t have to wait for a judicial ‘stay’. I urge Mr White to grad the Planning and Subdivision Act bull by the horns and apply it to BPC. All these statutory Boards really need to consider their responsibilities “Recognised Boards appointed by Parliament, like the Town Planning Committee, aren’t connected by an umbilical cord to the Attorney General’s Office. They can take independent advice and govern themselves accordingly. I

hope the Town Planning Committee, even though we couldn’t get a ‘stay’, they could drop a ‘stop order’ on BPC overnight.” Mr White, when contacted by Tribune Business, was unaware the Town Planning Committee had been added as a respondent to the BPC action and gave a non-committal response. “The Town Planning Committee, if they’ve been joined in the action regarding BPC as the court may have determined, will take the proper and necessary steps to be represented through legal counsel who will render advice. “And, in accordance with the Planning and Subdivisions Act, we will take the necessary matters into consideration by the committee and formulate actions as and when required.” Justice Hanna-Adderley’s much-anticipated ruling enabled both sides to claim victory. BPC got the main thing it wanted, which was rejection of the “stay” application, leaving it free to proceed with drilling an exploratory oil well that should be completed by the time the Supreme Court gets round to hearing the substantive Judicial Review case, which is schedule for mid-February at the earliest.

As for BPC’s opponents, they gained the go-ahead to proceed with their Judicial Review challenge to all permitting and approval decisions taken by the government. Besides the second BPC licence extension, and change in drill ship to the Stena IceMAX, which were approved in August and November respectively, they also obtained leave to challenge the company’s Environmental Authorisation (EA) and first licence extension. These were issued in February and April, respectively, outside the six-month timeframe within which Judicial Review actions must be launched under Supreme Court rules. Sources close to the environmentalists, speaking on condition of anonymity, said they had never expected to get the “stay” nor be able to challenge the EA and first licence extension because they were out of time. The source suggested the activists thus obtained more than they expected. Mr Smith, meanwhile, hailed the fact that his clients “are going to have their day in court on this very important public issue”. He added that they were “particularly grateful that the court has given permission to test the February

and April decisions, as well as the August and November decisions”. “This is really a line the environmental community is drawing in the sand as far as oil exploration is concerned,” Mr Smith told Tribune Business. “Unfortunately the drilling is still going on now, but there are four other exploratory licence areas and we don’t know if the government is or isn’t negotiating with other persons to expand the carbon-based industries in The Bahamas. “What the court has done is indicate we have an arguable case. The government took the position that our case was without merit, and we should be refused leave on all decisions. This ruling puts beyond dispute whether the Planning and Subdivisions Act, Conservation and Protection of the Physical Landscape of The Bahamas Act, Environmental Health Services Act and Merchant Shipping Act apply to oil exploration. “This is pivotal to the future of the Bahamian environment. Having an opportunity to adjudicate this is gold for us. It really opens the shutters on civil society oversight of overreach by developers and the failure of the executive branch of government, as far as we’re concerned, to

abide by the laws passed by Parliament,” Mr Smith continued. “While we are disappointed that we did not get a ‘stay’, we are very excited with the prospect of holding the government to account on consultation and abiding by the Environmental Planning and Protection Act and Planning and Subdivision Act. This is a moment in environmental history for The Bahamas.” BPC’s application to be joined as a party to the Judicial Review will be heard by Justice Hanna-Adderley next Thursday, January 14, which is when she will also issue case management instructions for how future hearings will proceed. The government’s demand that the activists lodge a $200,000 bond to cover its legal expenses, known as “security for costs”, will be heard on January 22. A hearing on the substantive case raised by the Judicial Review will be heard on February 17-18, or mid-March. Carl Bethel QC, the attorney general, said the government’s lawyers working the BPC case will meet today to make “some decisions.... on the way forward”. He added: “I have asked for their advice on the next steps and await the same.”

NIB rate hikes: ‘Can’t get water from stone’ FROM PAGE ONE

they are preparing for their Business Licence, preparing for their VAT payment. There’s only so much a business can take, and with many just re-opening and getting into the swing of things, they are incurring a hell of a lot of expenses.” Successive governments have “kicked the can down the road” on an NIB rate increase for years, if not decades, preferring to leave the issue for the next administration to decide even though multiple actuarial

reports have warned that the social security system’s $1.7bn reserve fund would be exhausted by 2031 if this and other actions were not taken. The collective inaction means that the magnitude of any reforms will be greater, and the impact on companies and workers stronger, than if the government had moved much earlier on these recommendations. COVID19, and NIB’s collective $100m benefit payout, will only have accelerated and increased the pressure for change such that it can no longer be ignored.

NIB’s last published financials, for 2017, show it had just $21.177m in cash on hand at in the bank at yearend, meaning it will likely have had to liquidate deposits and investments to meet COVID-19 payouts. It was also instructed to repatriate its overseas holdings to boost the external reserves by the Central Bank. The latter, in its recentlyreleased Financial Stability Report, said of COVID-19’s impact on NIB: “Due to the effects of the 2020 COVID19 pandemic, however, the resultant surge in claims on The Board has led to

a drawdown in liquidity, which could have implications for financial stability over the next few years.” Thus COVID-19 has worsened a situation that has seen NIB’s benefit payouts exceed contribution income for the past three years at least. And the Inter-American Development Bank (IDB), in 2018, warned that NIB contribution rates must more than double to over 20 percent to prevent a long-term Bahamian pension crisis. The result would be that The Bahamas’ 220,000-plus workforce all take a hit

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CHANGE

%CHANGE

YTD

YTD%

2092.45

0.13

0.01

-0.01

0.00

(242) 323-2330 (242) 323-2320

BISX LISTED & TRADED SECURITIES 52WK HI 4.15 33.05 2.00 1.84 2.39 6.00 6.75 4.10 8.01 4.50 6.16 12.77 3.64 6.85 10.88 8.44 15.08 4.25 9.26 15.21

52WK LOW 3.13 22.65 0.67 1.62 1.67 5.00 6.00 2.70 4.75 3.50 5.90 11.06 2.10 4.60 9.60 7.50 13.00 3.25 8.15 14.00

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

SECURITY AML Foods Limited APD Limited Benchmark Bahamas First Holdings Limited Bank of Bahamas Bahamas Property Fund Bahamas Waste Cable Bahamas Commonwealth Brewery Commonwealth Bank Colina Holdings CIBC FirstCaribbean Bank Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Bahamas Limited Focol Finco J. S. Johnson

SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ

LAST CLOSE 4.15 32.12 1.62 1.84 1.67 6.00 6.61 2.99 4.75 3.59 5.90 11.26 2.38 6.75 10.26 8.40 13.75 3.94 8.50 15.20

CLOSE 4.15 32.12 1.62 1.84 1.67 6.00 6.61 2.99 4.75 3.59 5.90 11.26 2.58 6.75 10.19 8.40 13.75 3.94 8.50 15.20

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

SYMBOL FBB22 BFHB

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGR1180375 BSBGRS950320 BSBGRS950304

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.72 100.64 100.64

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Bahamas Class A Focol Class B

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00 97.72 100.64 100.64

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 97.72 100.64 100.64

SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited

BAHAMAS GOVERNMENT STOCK - (percentage pricing) Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y BGRS FX BSBGR1180375 BGRS FL BSBGRS950320 BGRS FL BSBGRS950304

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.20 0.00 (0.07) 0.00 0.00 0.00 0.00 0.00

VOLUME

10,000

400

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

EPS$ 0.239 0.932 0.000 0.110 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

VOLUME

DIV$ 0.170 1.260 0.020 0.030 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

P/E 17.4 34.5 N/M N/M N/M N/M 17.9 -6.8 33.9 19.5 13.1 15.6 25.3 14.5 15.8 11.5 16.9 19.4 9.1 24.1

YIELD 4.10% 3.92% 1.23% 1.63% 0.00% 0.00% 3.93% 0.00% 0.00% 3.34% 3.73% 6.39% 16.82% 0.89% 3.22% 2.86% 3.93% 3.05% 2.35% 4.01%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75% 6.25%

19-Oct-2022 30-Sep-2025

MATURITY

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 5.22% 4.31% 4.30%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 13-Oct-2037 25-Sep-2032 25-Sep-2030

from reduced “take home pay” and suffer a loss of disposable income, leading to reduced living standards. And the corresponding increase in employer contributions will cut into corporate profits and cash flow, acting as a significant drag on economic growth by deterring job-creating investment and expansion. Rick Lowe, an executive with the Nassau Institute think-tank, said of the potential NIB contribution rate increase: “It’s coming or the system will go broke. They’re going to end up trying to get blood out of a stone. It just adds to the burden, and may cause people to do things they shouldn’t be doing like hiring people under the table. It’s not a pretty picture. “It’s like scraping the bucket of water and not putting out the expenditure fire because they use NIB for all sorts of things. NIB is such easy money, as they

like using it to purchase property that doesn’t generate a rental return from the government.” Ben Albury, Bahamas Bus and Truck’s general manager, echoed Mr Lowe in arguing that NIB and the government first needed to show transparency and responsibility in how Bahamians’ social security funds are being managed before they started talking about a contribution rate hike. “This has been a difficult year, and I know NIB has taken a big hit, but increasing costs for employers as well as employees will be very challenging at a time like this,” he told Tribune Business. Mr McCartney, meanwhile, argued that talk of NIB rate increases was an indication of further austerity measures to come in what will be an even harder decade for Bahamian society and the economy.

LEGAL NOTICE URION GLOBAL HOLDINGS LIMITED NOTICE IS HEREBY GIVEN as follows: (a)

URION GLOBAL HOLDINGS LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of theInternational Business Companies Act 2000.

(b)

The dissolution of the said company commenced on the 31stday of December, A. D., 2020, when the Articles of Dissolutionwere submitted and registered by the Registrar General.

(c)

The Liquidator of the said company is Lucy Dalrymple-Smith of Gijsbrecht van Amstelstraat 77, 1214 AT, Hilversum, Netherlands.

Dated this 5th day of January, A. D., 2021. Lucy Dalrymple-Smith, Liquidator

MUTUAL FUNDS 52WK HI 2.37 4.43 2.13 198.39 176.73 1.69 1.85 1.77 1.24 8.39 10.26 7.23 12.80 12.81 10.81 10.00 8.98 11.79

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.65 1.79 1.75 1.05 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Preferred Income Fund Leno Growth Fund Leno Diversified Fund Leno Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

NAV 2.37 4.43 2.13 198.36 173.98 1.69 1.79 1.77 1.05 8.39 9.88 7.23 12.33 12.80 10.20 N/A 9.28 11.86

YTD% 12 MTH% 3.76% 4.43% 1.54% 2.56% 2.12% 2.59% 1.65% 2.39% 4.34% 9.82% 1.65% 1.95% -3.06% -2.22% 0.80% 1.17% -12.30% -11.81% 0.64% 0.98% 1.19% -3.63% 4.20% 5.04% 2.63% 7.68% 3.68% 3.93% -4.89% -4.62% N/A N/A -0.50% 3.70% -3.80% 4.10%

NAV Date

31-Oct-2020 31-Oct-2020 30-Oct-2020 30-Sep-2020 30-Sep-2020 31-Oct-2020 31-Oct-2020 31-Oct-2020 31-Oct-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020

MARKET TERMS

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

YIELD - last 12 month dividends divided by closing price

52wk-Hi - Highest closing price in last 52 weeks

Bid $ - Buying price of Colina and Fidelity

52wk-Low - Lowest closing price in last 52 weeks

Ask $ - Selling price of Colina and fidelity

Previous Close - Previous day's weighted price for daily volume

Last Price - Last traded over-the-counter price

Today's Close - Current day's weighted price for daily volume

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

EPS $ - A company's reported earnings per share for the last 12 mths

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

DIV $ - Dividends per share paid in the last 12 months

N/M - Not Meaningful

LEGAL NOTICE

NOTICE WALZREAL LIMITED Pursuant to the Provisions of Section 138 (8) of the International Business Companies Act 2000 notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certificate of Dissolution issued by the Registrar General on the 10th day of December, 2020.

P/E - Closing price divided by the last 12 month earnings

Beryn Neeley Liquidator of WALZREAL LIMITED TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CAROLISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

PAGE 8, Wednesday, January 6, 2021

Wrong e-mail caused blacklisting by France FROM PAGE ONE

among countries deemed non-cooperative in the fight against tax-related crimes stemmed from “the perception by the French authorities” that this nation “has not been responding to requests for information in a manner that is satisfactory to them”. He added that an intergovernmental investigation

THE TRIBUNE

at the time had not turned up any French tax information requests that remained outstanding or had not been dealt with, saying The Bahamas has “nothing on the record”. And Mr Turnquest voiced particular displeasure at the French action given that it was a member of two bodies that deemed The Bahamas compliant with their various tax demands - the European Union (EU) and OECD. He also criticised France’s failure to invoke the dispute resolution process contained in the Multilateral Convention on Mutual Assistance in Tax Matters, which The Bahamas signed in late 2017 to facilitate tax information exchange and co-operation. Mr Bethel, meanwhile, told Tribune Business in

a recent interview that the French “blacklisting” showed that “The Bahamas has to heighten its profile” - especially among individual member states of the 27-strong EU. With The Bahamas now removed from the Financial Action Task Force’s (FATF) enhanced scrutiny, Mr Bethel said the government was already switching its focus to securing The Bahamas’ removal from the EU’s “blacklist” and improving bilateral relations with its members. “Our focus has already switched in some ways,” he confirmed. “We’ve already started to shift our focus. We’ve had a series of phone calls with key EU countries - Italy, Germany,

Hungary, Slovenia, Finland and Cyprus so far. “We’re not expecting member states to override the EU Commission, but part of the outreach is to show we’re seeking to develop strong bilateral state-to-state connections with The Bahamas. To avoid further instances [of blacklisting[ with other countries that may not have the relationship with us like the French, we’re looking to build direct bilateral relationships at the technical level.” This, Mr Bethel said, would enable The Bahamas to respond rapidly and potentially head-off any regulatory or other developments that could be damaging to the financial services industry.

“If you don’t know the country, any propaganda against it is as good as true,” he added. “The idea is to craft other bilateral relationships state-by-state because if something arises and you don’t know the country, that can be as good as true. The Bahamas has to heighten its profile.” The attorney general added that The Bahamas has already responded to the EU’s “well-founded concerns” by reforming its Register of Beneficial Ownership Act to meet the demands of a powerful nation bloc’s whose antifinancial crime standards are “FATF-plus” and above the global norm. “We had to tighten it up because the concerns were valid,” he added of the Act.

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 68° F/20° C Low: 49° F/9° C

TAMPA

THURSDAY

FRIDAY

SATURDAY

SUNDAY

Partly sunny and pleasant

Mainly clear

Mostly sunny and pleasant

Mostly cloudy with showers; breezy

Mostly sunny and delightful

Nice with sun and some clouds

High: 74°

Low: 63°

High: 75° Low: 66°

High: 77° Low: 64°

High: 73° Low: 61°

High: 74° Low: 66°

AccuWeather RealFeel

77° F

64° F

78°-62° F

78°-61° F

73°-63° F

80°-64° F

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

almanac

ABACO

High: 72° F/22° C Low: 61° F/16° C

6-12 knots

High: 73° F/23° C Low: 59° F/15° C

6-12 knots

FT. LAUDERDALE

FREEPORT

High: 73° F/23° C Low: 60° F/16° C

W S

WEST PALM BEACH

High: 72° F/22° C Low: 62° F/17° C

MIAMI

High: 73° F/23° C Low: 60° F/16° C

6-12 knots

KEY WEST

High: 68° F/20° C Low: 64° F/18° C

ELEUTHERA

NASSAU

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

tiDes For nassau High

Ht.(ft.)

Low

Ht.(ft.)

Today

12:58 a.m. 1:12 p.m.

2.5 2.5

7:11 a.m. 0.2 7:37 p.m. -0.3

Thursday

2:00 a.m. 2:13 p.m.

2.7 2.4

8:19 a.m. 0.2 8:34 p.m. -0.4

Friday

3:02 a.m. 3:16 p.m.

2.8 2.3

9:28 a.m. 0.1 9:32 p.m. -0.5

Saturday

4:04 a.m. 4:19 p.m.

3.0 2.3

10:33 a.m. 0.0 10:31 p.m. -0.6

Sunday

5:03 a.m. 5:19 p.m.

3.1 2.3

11:34 a.m. -0.2 11:28 p.m. -0.7

Monday

5:58 a.m. 6:16 p.m.

3.2 2.3

12:30 p.m. -0.4 ---------

Tuesday

6:51 a.m. 7:10 p.m.

3.3 2.4

12:23 a.m. -0.8 1:22 p.m. -0.5

sun anD moon Sunrise Sunset

6:56 a.m. 5:36 p.m.

Moonrise Moonset

12:06 a.m. 12:19 p.m.

Last

New

First

Full

Jan. 6

Jan. 12

Jan. 20

Jan. 28

CAT ISLAND

High: 76° F/24° C Low: 65° F/18° C

W S

SAN SALVADOR

GREAT EXUMA

High: 77° F/25° C Low: 65° F/18° C

High: 77° F/25° C Low: 69° F/21° C

7-14 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 73° F/23° C Low .................................................... 68° F/20° C Normal high ....................................... 78° F/25° C Normal low ........................................ 66° F/19° C Last year’s high ................................. 77° F/25° C Last year’s low ................................... 70° F/21° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ................................................. 0.00” Normal year to date ..................................... 0.24”

High: 75° F/24° C Low: 63° F/17° C

High: 74° F/23° C Low: 63° F/17° C

6-12 knots

ANDROS

High: 75° F/24° C Low: 64° F/18° C

W S

LONG ISLAND

tracking map

uV inDex toDay

TONIGHT

High: 68° F/20° C Low: 51° F/11° C

“We had to block of the issue of companies who did not have registered agents, as only the latter were originally required to provide beneficial ownership information. The compliance unit is dealing with that, and moving to drive compliance on behalf of companies without registered agents.’ Mr Bethel continued: “We are simply seeking our living space, and we don’t want to have our living space at the expense of any other jurisdiction. Within that broad parameter we feel there is more than adequate space for The Bahamas to have a financial services sector that’s in compliance with current and emerging global financial standards.”

High: 77° F/25° C Low: 68° F/20° C

6-12 knots

MAYAGUANA High: 78° F/26° C Low: 70° F/21° C

Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 77° F/25° C Low: 70° F/21° C

GREAT INAGUA High: 81° F/27° C Low: 70° F/21° C

N E

High: 77° F/25° C Low: 70° F/21° C

7-14 knots

4-8 knots

marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday:

WINDS N at 6-12 Knots E at 4-8 Knots NE at 6-12 Knots ESE at 4-8 Knots N at 7-14 Knots E at 6-12 Knots N at 6-12 Knots ENE at 7-14 Knots N at 6-12 Knots E at 4-8 Knots NNE at 6-12 Knots ESE at 6-12 Knots NE at 7-14 Knots E at 6-12 Knots NE at 4-8 Knots ENE at 7-14 Knots NNE at 8-16 Knots ENE at 7-14 Knots N at 6-12 Knots ENE at 7-14 Knots N at 4-8 Knots ESE at 4-8 Knots NE at 7-14 Knots E at 7-14 Knots N at 6-12 Knots E at 6-12 Knots

WAVES 4-7 Feet 4-7 Feet 1-2 Feet 1-2 Feet 3-5 Feet 3-6 Feet 1-3 Feet 2-4 Feet 3-5 Feet 3-6 Feet 3-5 Feet 3-5 Feet 1-2 Feet 1-2 Feet 1-3 Feet 2-4 Feet 1-3 Feet 1-3 Feet 3-5 Feet 4-7 Feet 1-3 Feet 1-3 Feet 1-2 Feet 1-3 Feet 2-4 Feet 2-4 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 77° F 77° F 75° F 73° F 79° F 79° F 80° F 80° F 78° F 77° F 76° F 75° F 78° F 77° F 81° F 81° F 80° F 80° F 79° F 79° F 77° F 77° F 80° F 79° F 79° F 78° F