business@tribunemedia.net
Tuesday, January 6, 2026
$5.30 $4.90
$5.35
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School run stress: 15% quit or change their job By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net MORE than one in seven Bahamians have had to quit or change jobs to cope with the demands of school drop-offs and pick-ups, an Inter-American Development Bank (IDB) report has revealed, with more than one-third blaming this for inhibiting career and income-earning opportunities. The multilateral lender, unveiling the results of a study on how the daily ‘school run’ impacts parents and adult “caregivers”, said the findings showed lower income Bahamian households and families “face greater difficulty absorbing
* Over 35% say drop-off, pick-up hurts income and career * Similar number left ‘physically exhausted’ by commutes * Employers forced to adjust shifts so employees can cope the demands” from the early morning and mid-afternoon commutes - not least because they are more likely to have just one or no vehicles. The IDB study, which focused on four New Providence schools and surveyed 477 parents, as well as interviewing teachers, principals, security guards and bus drivers, found that more than 37 percent of those polled reported being late
for work at least once in the prior month due to the stresses and traffic congestion associated with the school run. And some 35 percent of survey respondents had asked their employers for “flexibility”, such as adjusted work hours or being able to work from home, just so that they can cope with transporting school age children. The IDB study said the pressures on productivity
are so great in Nassau that companies have adjusted shift times to facilitate staff school runs, one employer revealing they have introduced a 12pm to 8pm shift specifically for this purpose. The report, produced by five members of the IDB’s transportation division, gives an insight into the tangible negative impacts created by pressures surrounding the twice-daily school commute with
many parents struggling to balance caring for children with their career. The survey found almost 36 percent of parents agreeing that school transportation duties “leave them physically exhausted”. And nearly 7 percent of survey respondents confirmed they have had to “quite a job entirely” to ensure they can drop-off or pick up their children, with more than 8 percent stating
they had to change employment for the same reason. This means 15 percent, or more than one in seven Bahamians, have have seen their income and job prospects negatively hit by ‘school run’ challenges. “The responsibilities associated with ensuring children's safe and timely transport to school significantly shape caregivers'
TRANSPORT - See Page B4
Briland operator hit by ‘We’re in for a rough ride’: bar on repeat bookings Shipping firm raises rates By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
* But hails its trademark win as ‘very positive’ * Conch & Coconut in US, Bahamian injunctions
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
A Briland tourism operator is now the subject of injunctions from both the Bahamian and US courts after a Florida judge barred it from “soliciting bookings” from repeat customers originally secured by its estranged US business partner. Judge Kathleen Williams, in a pre-Christmas verdict, prohibited Julian ‘Shaq’ Gibson, head of the Conch & Coconut tour operator, destination management and visitor “concierge” business, from both marketing and promoting its
services to repeat guests and using customer data “originated and maintained” by Pablo Conde and his Florida operation prior to the break-up of their business partnership. However, her December 22, 2025, decision rejected Mr Conde’s bid for a separate injunction that would have prevented Mr Gibson and his Harbour Island-based tourism business from being able to use the Conch & Coconut trademarks. Mr Conde claimed he owned this intellectual
Bahamians were yesterday warned to brace “for a rough ride” as cost of living pressures show no signs of easing with a major shipping carrier unveiling a general rate increase (GRI) for all cargo moving between this nation and the US with effect from January 18, 2026. Thomas Sands, the Eleuthera Chamber of Commerce president, told Tribune Business he sees no sign of price and inflationary pressures “diminishing” after King Ocean Services unveiled
property, and that Mr Gibson and the Bahamian operation had not been legally permitted to continue using them, but the south Florida federal court judge found he had granted the latter a “naked licence” and thus extinguished any claim for copyright and trademark breaches. Mr Gibson declined to comment when contacted by Tribune Business yesterday, stating that his Bahamian attorneys had
BATTLE - See Page B5
Sir Ian rejects Bahamian Banks: We weren’t all hit bank as Sandals trustee by Xmas transaction woe By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Supreme Court has dismissed the bid by the late Gordon ‘Butch’ Stewart’s wife for a Bahamian bank to be appointed co-judicial trustee of the trust that holds the Sandals and Beaches resort chains after finding there is “no material risk” their assets will be stolen or misused. Sir Ian Winder, the chief justice, in an October 17, 2025, verdict that was publicly disclosed for the first time yesterday rejected the attempt by Cheryl Hammersmith-Stewart, the late Sandals founder’s third wife, to have the Private Trust Corporation made “independent judicial co-trustee” of the trust that holds the Sandals resort chain’s parent company.
She pushed for its appointment in an attempt to counter the alleged control Adam Stewart, Sandals’ executive chairman and the late founder’s son, purportedly has over the resort group in an increasingly acrimonious battle between the Jamaican and US sides of the latter’s family over his estate. Mrs Hammersmith-Stewart had claimed Adam Stewart had used this control to his own benefit and advantage against the interests of herself and her children, but Sir Ian dismissed the bid to install the Private Trust Corporation after finding she had failed to establish “prima facie evidence” that Sandals assets faced a “real and present danger” of being misused.
TRUSTEE - See Page B3
By FAY SIMMONS Tribune Business Reporter jsimmons@ tribunemedia.net SEVERAL Bahamian commercial banks yesterday asserted their customers did not fall victim to unauthorised deductions from their accounts and debit/credit cards during the recent Christmas holiday, with one senior executive saying: “Water finds the open point.” Gowon Bowe, Fidelity Bank (Bahamas) chief executive, said the BISXlisted bank and others did not experience a high volume of consumers reporting unauthorised transactions amid reports that some Bank of The Bahamas customers were impacted by this.
A Grand Bahama customer of Bank of The Bahamas, speaking on condition of anonymity, said several other clients were also in its branch on the island demanding to know what had happened when she went to check what had happened. “It was packed in there; not only the Christmas crowd but people trying to find out what was going on with their accounts. It was a mess,” she said. Social media posts claimed that Bank of the Bahamas accounts were accessed without permission. Many users expressed concern and shared personal stories online, with some speculating about the cause and others warning friends and family to check
AUTHORISED - See Page B3
freight cost increases of $75 and $150, respectively, for shipping 20 and 40-foot equivalent unit containers between The Bahamas and the US. Those containers exceeding 40 feet will incur an additional $169 charge, and Mr Sands described King Ocean - which has scheduled service to most Bahamian islands on a weekly or twice-weekly basis - as a “lifeline” especially for his food store business given the “reliable” service and refrigerated containers that it offers. Other private sector sources last night questioned whether other
major shipping companies supplying The Bahamas will follow King Ocean, the former Seacor’s lead, and raise their own freight charges or if they will stay put. They added that should King Ocean prove an outlier with its move, set to take effect in less than two weeks, then it could become uncompetitive with Bahamian businesses and consumers switching to other carriers. “I mean it’s the reality of what we face; rising costs across the board,” Mr Sands told this newspaper of King Ocean’s increases. “They offer good service. I
CHARGES - See Page B5
PAGE 2, Tuesday, January 6, 2026
THE TRIBUNE
Watchdog signals staffing need on $204,000 consumer recovery
MARKET REPORT www.bisxbahamas.com
MONDAY, 5 JANUARY 2026
BISX ALL SHARE INDEX:
CLOSE
CHANGE
%CHANGE
YTD
YTD%
3111.56
-0.07
0.00
1.97
0.06
(242) 323-2330 info@bisxbahamas.com
BISX LISTED & TRADED SECURITIES 52WK HI 6.65 62.00 2.76 2.75 6.10 12.00 11.00 4.15 11.95 5.05 14.75 16.49 6.90 5.50 11.87 6.80 17.45 6.85 16.20 16.80
52WK LOW 5.70 44.64 2.40 2.05 4.40 10.50 9.40 3.00 9.63 4.01 11.35 14.00 5.20 5.15 8.52 6.10 15.25 6.00 14.55 16.75
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
1.00 1.00 10.00 1.00
1.00 1.00 10.00 1.00
Bahamas First Holdings Preference Colina Holdings Class A Fidelity Bank Bahamas Class A Focol Class B
BFHP CHLA FBBA FCLB
1.00 1.00 10.00 1.00
1.00 1.00 10.00 1.00
0.00 0.00 0.00 0.00
115.92 100.00 100.00 100.00 100.00 96.34 98.20 100.26 100.11 98.29 100.83 100.31 99.58 101.45 100.89 103.00 99.95 99.64 100.52 99.67 101.89 101.22 99.76 99.45 100.86 100.87 99.80 99.54 100.64 100.21 100.64
104.79 100.00 100.00 100.00 98.03 92.55 95.60 100.26 100.11 98.29 100.83 100.31 99.58 101.45 100.63 100.14 99.95 99.64 100.52 99.67 101.89 101.22 99.76 99.45 100.86 100.87 99.80 99.54 100.64 100.21 100.64
Bahamas Note 6.95 (2029) BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-30Y BGRS FX GRS118037 BGRS FX BGR131239 BGRS FX BGR138250 BGRS FX BGR164033 BGRS FX BGR170027 BGRS FX BGR134140 01/17/2040 BGRS FX BGR176034 BSBGR163026 FX 07/21/2026 (3.63%) BSBGR168029 FX 01/18/2029 (4.10%) BSBGR179054 FX 10/22/1954 (6.65%) BGRS FX BGR139127(9/15/2027 4.25) BSBGR153052 FX 06/15/1952 (6.50%) BSBGR155032 FX 09/14/1932 (5.43%) BSBGR163026 FX 07/21/2026 (3.63%) BSBGR163033 FX 07/21/1933 (5.51%) BSBGR168029 FX 01/18/2029 (4.10%) BSBGR168031 FX 01/18/1931 (4.76%) BSBGR168044 FX 01/18/1944 (6.09%) BSBGR177027 FX 08/16/2027 (3.67%) BSBGR177029 FX 08/16/2029 (4.13%) BSBGR177034 FX 08/16/1934 (5.54%) BSBGR178034 FX 09/16/1934 (5.54%) BSBGR179027 FX 10/22/2027 (3.70%) BSBGR179029 FX 10/22/2029 (4.16%) BGRS FL BGRS90028 12/10/2028 BGRS FL BGRS95030 09/25/2030 BGRS FL BGRS95032 09/25/2032
BAH29 BG0130 BG0230 BG0330 BSBGR1180375 BSBGR1312390 BSBGR1381502 BSBGR164033 BSBGR170027 BSBGR1341407 BSBGR176034 BSBGR163026 BSBGR168029 BSBGR179054 BSBGR1391279 BSBGR153052 BSBGR155032 BSBGR163026 BSBGR163033 BSBGR168029 BSBGR168031 BSBGR168044 BSBGR177027 BSBGR177029 BSBGR177034 BSBGR178034 BSBGR179027 BSBGR179029 BSBGRS900283 BSBGRS950304 BSBGRS950320
107.31 100.00 100.00 100.00 100.00 92.55 98.20 100.26 100.11 94.76 100.83 100.31 99.58 101.45 100.89 100.14 99.95 99.64 100.52 99.67 101.89 101.22 99.76 99.45 100.86 100.87 99.80 99.54 100.64 100.21 100.64
107.31 100.00 100.00 100.00 100.00 92.55 98.20 100.26 100.11 94.76 100.83 100.31 99.58 101.45 100.89 100.14 99.95 99.64 100.52 99.67 101.89 101.22 99.76 99.45 100.86 100.87 99.80 99.54 100.64 100.21 100.64
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
PREFERENCE SHARES
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 Caribbean Bank (Bahamas) Limited
BAHAMAS GOVERNMENT STOCK - (percentage pricing)
LAST CLOSE 6.65 50.00 2.76 2.75 6.06 12.00 10.50 3.99 10.59 4.27 14.69 16.24 6.97 5.19 12.04 6.80 16.24 6.85 15.71 16.76
CLOSE 6.65 50.00 2.76 2.75 6.06 12.00 10.50 3.99 10.59 4.27 14.69 16.24 7.01 5.19 11.89 6.80 16.24 6.85 15.71 16.76
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 0.04 0.00 (0.15) 0.00 0.00 0.00 0.00 0.00
VOLUME
25
EPS$ 1.139 2.855 0.680 0.345 0.665 1.003 0.475 -0.108 0.517 0.173 2.215 1.026 0.000 0.458 0.000 0.363 0.631 0.363 0.879 1.039 0.000 0.000 0.000 0.000
DIV$ 0.220 2.000 0.020 0.080 0.050 0.400 0.450 0.240 0.470 0.200 0.520 0.560 0.079 0.090 0.391 0.240 0.520 0.150 5.600 1.010 0.000 0.000 0.000 0.000
6.95% 6.25% 6.25% 6.25% 5.22% 5.14% 6.05% 5.51% 3.64% 5.35% 5.54% 3.63% 4.10% 6.65% 4.25% 6.50% 5.43% 3.63% 5.51% 4.10% 4.76% 6.09% 3.67% 4.13% 5.54% 5.54% 3.70% 4.16% 4.38% 4.30% 4.31%
P/E 5.8 17.5 4.1 8.0 9.1 12.0 22.1 -36.9 20.5 24.7 6.6 15.8 N/A 11.3 N/A 18.7 25.7 18.9 17.9 16.1 0.000 0.000 0.000 0.000
YIELD 3.31% 4.00% 0.72% 2.91% 0.83% 3.33% 4.29% 6.02% 4.44% 4.68% 3.54% 3.45% 1.13% 1.73% 3.29% 3.53% 3.20% 2.19% 35.65% 6.03% 0.00% 6.25% 7.00% 6.50%
20-Nov-2029 15-Dec-2044 30-Jul-2045 26-Jun-2045 13-Oct-2037 15-Jul-2039 15-Jun-1950 16-Oct-1933 15-Feb-2027 17-Jan-2040 26-Jul-1934 21-Jul-2026 18-Jan-2029 22-Oct-1954 15-Sep-2027 15-Jun-1952 14-Sep-1932 21-Jul-2026 21-Jul-1933 18-Jan-2029 18-Jan-1931 18-Jan-1944 16-Aug-2027 16-Aug-2029 16-Aug-1934 16-Sep-1934 22-Oct-2027 22-Oct-2029 10-Dec-2028 25-Sep-2030 25-Sep-2032
MUTUAL FUNDS 52WK HI 2.88 5.70 2.44 254.24 230.37 1.95 2.36 2.15 0.99 10.20 13.51 7.80 16.64 12.84 10.77 16.27 11.22 14.89
52WK LOW 2.11 3.30 1.68 116.70 199.28 1.87 2.21 2.05 0.97 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20
NAV
FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Equity Fund CFAL Global Fixed Income Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global Bond Fund RF Bahamas Opportunities Fund - Secured Balanced Fund RF Bahamas Opportunities Fund - Targeted Equity Fund RF Bahamas Opportunities Fund - Prime Income Fund RF Bahamas International Investment Fund Limited - Equities Sub Fund RF Bahamas International Investment Fund Limited - High Yield Income Fund RF Bahamas International Investment Fund Limited - Alternative Strategies Fund Coralisle Bahamas Fund - Class D Coralisle Bahamas Fund - Class E Coralisle Bahamas Fund - Class F
2.88 5.65 2.44 254.24 230.37 1.95 2.36 2.15 0.99 11.34 15.51 8.42 15.51 13.30 12.10 N/A 11.65 14.10
YTD% 2.67% 2.39% 1.95% 10.89% 4.77% 2.21% 3.45% 2.64% 1.93% 4.39% 5.67% 3.22% 7.94% 4.60% 8.32% N/A 3.00% N/A
12 MTH% 3.97% 4.87% 2.89% 20.59% 8.43% 3.38% 5.04% 4.09% 0.47% 4.39% 5.67% 3.22% 7.94% 4.60% 8.32% N/A 25.60% N/A
MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings
YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful
NAV Date
30-Sep-2025 30-Sep-2025 26-Sep-2025 30-Sep-2025 30-Sep-2025 31-Oct-2025 31-Oct-2025 31-Oct-2025 25-Sep-2025 31-Jul-2025 31-Jul-2025 31-Jul-2025 31-Jul-2025 31-Jul-2025 31-Jul-2025 31-Oct-2025 31-Oct-2025 31-Oct-2025
THE Bahamas’ consumer watchdog says it recovered almost $204,000 for aggrieved customers in 2025 as it signalled the need for more staff to deal with ever-increasing complaints against businesses. The Consumer Protection Commission (CPC), in a statement, said that it had achieved a 55 percent “recovery rate” from businesses that were the subject of consumer ire despite its complaints and investigations department possessing just three full-time staff. It added that it last year handled 271 consumer complaints and, in so doing, recovered a total $203,676.51 in compensation for consumers. The Commission said 191, or 70.5 percent, of the complaints were resolved “demonstrating improved operational efficiency and targeted case management”. Of the remainder, 35 cases remain open, 19 were referred for external action, and 26 matters were addressed through consumer advice and guidance. “These results show that consumers are more informed, more confident and more willing to come forward,” said Randy Rolle, the Commission’s executive chairman. “The CPC’s work in 2025 strengthened protections across the wider consumer market and reinforced accountability among businesses, ensuring fairness remains at the core of our economy.” The Commission said that, while it recorded fewer total cases last year when compared to 2024, performance indicators improved. It added that a higher proportion of cases were closed, open cases were significantly reduced, and fewer matters required referral or advisory - only intervention. The Consumer Protection Commission (CPC) disclosed yesterday it had received 271 complaints in total during 2025, of which 191 cases were successfully closed. Of the remaining complaints, 35 cases remain open, 19 were referred to other agencies, and 26 were resolved through “consumer advice and guidance”. According to Tribune Business records, the Commission reported recovering
$240,426 from 444 complaints in 2024. The 2025 results show a slightly lower total recovery of $203,676.51 from 271 matters, representing a 39 percent decrease in complaints received. Despite the drop in total recovered funds, it added that the recovery rate improved, rising from 53 percent in 2024 to 55 percent, reflecting stronger case resolution efficiency. In terms of financial outcomes, the CPC achieved a recovery rate of 55 percent, up slightly from 53 percent in 2024. Tynnicia Davis, the Commission’s operations manager, said: “Our small but mighty team continues to deliver results. Public trust in the Commission is evident, and we are committed to ensuring that service quality and responsiveness remain high as demand continues.” However, the Commission warned that present staffing levels “could present operational challenges as consumers increasingly seek timely intervention and resolution”. Davis added: “We do not want to place added strain on case turnaround times, follow-ups enforcement actions and proactive consumer outreach.” The Commission said it now plans to strengthen its investigative resources, modernise processes and improve how it serves the Bahamian public. It added that key initiatives for 2026 include digitising complaint submissions through a mobile application; enhancing data tracking; and reporting tools; expanding consumer education campaigns; and building stronger enforcement partnerships. “While the CPC recorded fewer total cases in 2025 than 2024, performance indicators improved markedly. “A higher proportion of cases were closed, open cases were significantly reduced, and fewer matters required referral or advisory only intervention,” said the Commission. “Overall, the data reflects stronger case resolution efficiency and improved case management outcomes in 2025 relative to the number of cases reported.”
NOTICE
INTERNATIONAL BUSINESS COMPANIES ACT, 2000
BULAK INVEST SA (IN VOLUNTARY LIQUIDATION)
NOTICE IS HEREBY GIVEN that in accordance with section 138(4) of the International Business Companies Act, 2000, as amended, Bulak Invest SA. is in dissolution. The dissolution of the said Company commenced on January 5th 2026 when the Articles of Dissolution were submitted to and registered with the Registrar General in Nassau, The Bahamas. The sole liquidator of the said Company is Kim D Thompson of Equity Trust House, Caves Village, West Bay Street, P O Box N 10697, Nassau, Bahamas.
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CORALISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333
Kim D Thompson Sole Liquidator
To Publish your Financials and
Legal Notices
Email: garthur@tribunemedia.net
THE TRIBUNE
Tuesday, January 6, 2026, PAGE 3
Labour relations ‘stable’ as unions meet with Prime Minister Davis By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE Trades Union Congress (TUC) president yesterday said labour relations in The Bahamas remain "stable” as he reassured workers that talking to the Government remains productive. Obie Ferguson KC asserted that he and other union leaders held a “productive” meeting with Prime Minister Philip Davis KC yesterday, discussing key issues such as wages, pensions and labour relations Speaking to Tribune Business, he added that
while not all matters can be resolved immediately, the focus remains on respectful negotiations and ensuring workers receive their fair share of economic benefits. "It's stable. There are, of course, things that the Trade Union Congress would like to see happen. We have met with the Prime Minister and shared some concerns. We intend to continue the dialogue with him to resolve these matters amicably,” said Mr Ferguson. “We want 2026 to be a productive year for workers in the country. We are committed to doing everything we can to ensure stability in labour relations. Some issues may not be resolved quickly, especially with
the elections approaching, which will naturally create some excitement. But, at the end of the day, we prefer to maintain a civil and co-operative relationship" Mr Ferguson said the meeting saw the participation of a broad range of union representatives including the National Insurance Union, Bahamas Nurses Union, Bahamas Doctors Union, Bahamas Air Traffic Controllers Union and the Bahamas Hotel Managerial Association. He added that in addition to discussions about a living wage, union officials highlighted the importance of fair pension management, arguing that such issues
should not be managed exclusively by employers. "Unions should be part of every Pension Board because pensions are essentially wages. This is an area that is rightfully reserved for union involvement, and we believe it is very important. Unions should have equal representation on the board. They cannot be managed exclusively by the employer, since employees are the beneficiaries of their wages,” said Mr Ferguson. "We can agree on things, and sometimes we may need to go back and make adjustments. That’s okay; it doesn’t have to be a physical fight. Name-calling and disrespect are not the way. “As a leader, I believe
that while differences are inevitable, especially when negotiating industrial agreements, there should always be a willingness to find a resolution. This year, we have a number of agreements that are coming due, and some of them are now ready to be negotiated." Mr Ferguson said union leaders will continue meeting with the Government to negotiate on behalf of workers and secure the best possible outcomes for their members, ensuring they receive their fair share of wages, benefits and opportunities. "Today was not a bad day for the unions in terms of access and dialogue. Some issues have been promised
to be resolvable, and we will wait patiently,” said Mr Ferguson of the meeting with the Prime Minister. “We will meet with him again, as he has indicated, and we will try to work out the best deal possible for workers. That’s our goal. We’re not trying to offend anyone; we just want to ensure that all members get their fair share of the economic pie. “We are aiming for a productive year. I want to wish all workers in the country - union members and non-members alike - a meaningful year, one where we put aside petty differences and work for the benefit of working people. That is where we stand.”
‘No material risk’ to Sandals group assets TRUSTEE - from Page B1 The current Sandals corporate structure involves the resort chain’s immediate parent, Sandals Resorts International, being held via a trust called the Coral Ridge Trust. Cromwell Trust Company is the latter’s sole corporate trustee, and Sir Ian found that its current directors are NOT “incapable of exercising proper fiduciary oversight” of the Coral Ridge Trust’s assets as alleged by Mrs Hammersmith-Stewart. The Chief Justice’s verdict, besides representing a blow for Mrs Hammersmith-Stewart and a boost for Adam Stewart and his Jamaican side of the family, is also a vindication for Cromwell Trust Company’s directors who include several prominent Bahamas-based financial services executives. They are Wendy Warren, the former Bahamas Financial Services Board (BFSB) chief executive and executive director, and Mark Richford, who separately is serving as co-judicial trustee of the late Sir Jack Hayward’s family trust. Among the Coral Ridge Trust’s holdings is a 100 percent ownership interest in Oasis Global, a Panama-incorporated company that, in turn, holds all the shares in Sandals Resorts International 2000. The latter owns and operates the Sandals and Beaches resort chains, and is also domiciled in Panama, but Mrs Hammersmith-Stewart based her “judicial co-trustee” bid on a report by Edith Wong, a certified fraud examiner with FTI Consulting. “The events detailed in the FTI Report
demonstrate that there is a real risk that the principal asset of the trust, namely its 100 percent shareholding in Sandals Resorts International 2000 and the underlying Sandals business, has suffered and will continue to suffer loss as a result of acts of defalcation and misuse of company resources by those charged with the responsibility of management of the Sandals business,” she alleged in legal findings. “The appointment of a judicial co-trustee is necessary and expedient to safeguard the assets of the trust and to secure the competent administration of the trust for the beneficiaries.” Mrs Hammersmith-Stewart argued that the Private Trust Corporation’s appointment was necessary to provide independent oversight as there was “a real and present danger” that the Coral Ridge Trust could “suffer irrevocable losses”. This was based on Adam Stewart’s control of Sandals, and his position as ‘enforcer’ of the Star Trust that owns Cromwell Trust Company, the Coral Ridge trustee. Mrs Hammersmith-Stewart alleged that this gave Adam Stewart the ability to control and influence Cromwell’s decision-making through his powers to appoint and remove its directors and decide their compensation. Asserting that the Private Trust Corporation was needed to provide balancing oversight over Coral Ridge Trust, she cited concerns raised in a report produced by Ms Wong over “inconsistencies” between what Unique Travel Corporation, Sandals’ marketing
and reservations representative, had collected and paid to Sandals Resorts International. While the latter had received $453.56m, Unique had collected almost $2bn but was only entitled to earn a 6 percent commission. “It therefore appears that Unique has been accumulating significant cash reserves that are not clearly justified by the business needs of either Unique or Sandals Group, with the result that Sandals Resorts International 2000 is not receiving the full amounts due to it under contractual arrangements,” Mrs Hammersmith-Stewart alleged. “Ms Wong notes that as of February 2023, Sandals Resorts International 2000 held total cash reserves of $631.3m, of which $557.6m was unrestricted cash. Ms Wong calculates that this level of cash accumulation at Sandals Resorts International 2000 would have required nearly two years worth of distributions from Unique at the average rate observed. “This suggests Sandals Resorts International 2000 may have been accumulating cash over an extended period rather than making distributions to its shareholder (Cromwell as the trustee of the Coral Ridge Trust) as would have been expected, raising further questions about the proper management of Sandals Group assets.” This was rejected by Mr Richford on behalf of Cromwell, who said that the trustee had appointed a forensic accountant to investigate the Wong report and appointed an independent committee to oversee the matter. “The trustee
BOB chief asserts: ‘No run on the bank’ AUTHORISED - from Page B1 of The Bahamas” over the their accounts. The posts quickly drew attention, causing widespread unease over Christmas. Neil Strachan, Bank of The Bahamas managing director, declined to comment yesterday. “No comment, there’s no run on the bank,” he said. He had previously asserted that customers at other Bahamian banks also fell victim to the unauthorised transactions, which he blamed on a BIN (bank identification number) attack by hackers on the online shopping giant, Amazon. The hackers were able to obtain shoppers’ card details to conduct fraudulent transactions, and Mr Strachan pledged that impacted customers will be able to apply for the money to be refunded. However, other Bahamian commercial banks denied that they or their customers were impacted. Tangela Albury, Commonwealth Bank’s chief financial officer, told Tribune Business that while hackers and scammers are “pursuing daily” attempts to steal customer information “we did not have the same experience as Bank
Christmas period. Mr Bowe, meanwhile, said that although all financial institutions regularly deal with digital attacks, fraudsters tend to focus on the weakest points in the system, targeting vulnerabilities rather than all institutions equally. “Just because one bank in The Bahamas experienced brute force attacks does not mean all banks did. Fidelity, for instance, was not involved in the recent issues with another financial institution, but we have and continue to deal with brute force attacks regularly,” said Mr Bowe. “This happens all the time, and it happens to everyone. The reality is that different cards have different security features, and different financial institutions use different tools, but all of them are subject to fraudsters. “As the saying goes, water finds the open point. Fraudsters focus their attention on what they consider to be the weakest link.” Mr Bowe said while cardholders have a role in safeguarding their PINs (personal identification numbers) and card details, it is ultimately the responsibility of banks to introduce robust fraud
detection and prevention systems He added that Fidelity Bank (Bahamas) has implemented advanced measures to protect cardholders, including a CVV system that changes the threedigit security code on cards every hour via a phone app, making it much harder for fraudsters to run high-volume automated attacks online. “As cardholders, we also have a responsibility to protect ourselves. We must ensure that our card details are not exposed, safeguard our PINs and take care of the physical cards themselves. People should avoid leaving cards on websites unnecessarily, especially for luxury purchases, where others could gain access,” said Mr Bowe. “At the same time, I recognise that all banks will experience occasional cases of fraud. While I am not aware of Amazon itself being compromised, fraudsters often use such sites as part of their schemes. Ultimately, it is the responsibility of financial institutions to implement robust fraud prevention mechanisms and to stay ahead of evolving threats in order to protect their customers.”
is not aware of any real or present danger of mishandling or diversion of assets of Sandals Resorts International 2000 as alleged by Mrs Hammersmith-Stewart,” he asserted. “The matters set out.. do not amount to evidence of any such current danger…. There is no substance in Mrs Hammersmith-Stewart’s contentions that there is a need for independent fiduciary oversight to prevent irremediable harm to the Coral Ridge Trust fund or the dissipation of the companies’ assets. “Nor is there any substance in her contentions that there is a need for the appointment of a co-trustee for there to be an appropriate investigation of the issues raised in the FTI report when such issues are already being investigated by the trustee, with independent forensic
accountancy assistance,” Mr Richford continued. “Mrs Hammersmith-Stewart’s allegations that the trustee is influenced by Adam are not supported by the evidence and are wrong. “The trustee is administering the trusts in accordance with its fiduciary obligations and under the constraints imposed by the founder when he established the bespoke trust structure he established. “We consider that the appointment of a co-trustee will not achieve anything other than duplication of time, effort and costs, which is not the overall interests of the beneficiaries of the trust.” Adam Stewart, meanwhile, blasted the Wong report and its allegations as “speculative and unproven” and based on “incomplete information”. And he
asserted that appointing the Private Trust Corporation would be a needless waste of time and resources while merely adding another layer of costs. He added: “The findings in the FTI report are inherently flawed due to the lack of information available to Ms Wong in preparing the FTI report….There are indications, however, that Ms Wong was specifically instructed to search for anything that might be said by her to be a red flag, however tenuous, rather than reach an objective view based on the limited information available to her… “Despite the allegations being unproven, speculative and inherently flawed, they are being taken seriously and handled with due consideration by the advisory board, Cromwell and the Board of Sandals Resorts International 2000.”
PAGE 4, Tuesday, January 6, 2026
THE TRIBUNE
Transport woes mean 17 per cent of students missing school TRANSPORT - from Page B1 engagement with the labour market in New Providence,” the IDB study affirmed. “For some caregivers, the demands of school transportation require considerable changes to their employment situation. Survey results highlight this reality: 6.9 percent of respondents reported having had to quit a job entirely to manage these duties, while a similar proportion, 8.1 percent, had to change jobs for the same reason. “Placed in the context of national unemployment figures for The Bahamas - around 8.5 percent for women and 9.1 percent for men at the time of reference - these percentages suggest school transport is a notable factor contributing to labour market disruption for a considerable segment of the caregiving population.” The IDB report added that “reducing work hours is a common coping mechanism” with a “direct conflict between work demands and care duties”. It said: “As one mother managing primary school commutes explained, the lack of alternatives forced a difficult choice: ‘I’ve had to reduce my work hours because there’s no one else to drop-off or pick-up my children.’ “The ripple effects extend beyond the individual household, as noted by a primary school teacher who observed: ‘Parents taking time off work to pick-up their children often don’t return to work, which impacts their income and the economy’. “Beyond altering current employment, school transport duties frequently constrain caregivers’ ability to take on additional work responsibilities, limiting potential income growth and career advancement. This constraint was reported by over a third (35.2 percent) of survey respondents.” Income inequalities were also cited for worsening these challenges, as
families and households with two or more vehicles were much better placed to deal with these challenges. “Access to private transportation resources appears to mitigate this constraint significantly,” the IDB study said. “Caregivers in households with two or more vehicles were considerably less likely to feel their ability to take on extra work was affected, compared to those in households with one or no cars (59.2 percent unaffected versus 40.8 percent). “Socioeconomic status, proxied by household density, also plays a statistically significant role; those feeling constrained lived in denser households on average (1.54 persons per room) compared to those unaffected (1.36), suggesting lower-income caregivers face greater difficulty absorbing the demands of school transport alongside potential work expansion.” School commute challenges also frequently cause parents to be late for work, with 8 percent of survey respondents failing to report on time at least eight times in the prior month. “Frequent tardiness emerged as a prevalent issue. Over a third (37.4 percent) of the quantitative sample reported being late for work at least once in the preceding month due to transporting children,” the IDB study said. “For a notable subset (7.9 percent) this was a chronic problem, occurring eight or more times in the month. The tangible impact of this persistent difficulty was highlighted by the experience of a manager at a children’s emergency hostel: ‘I’ve had staff who struggled with tardiness because of school responsibilities, and one even had to leave her job’. “Requesting flexible working arrangements is another major adaptation strategy, driven by the need to align work schedules with school timings. Caregivers frequently mentioned
making personal sacrifices: ‘I changed my shift to make sure I can drop-off and pick-up my kids’, and ‘I’ve had to adjust my hours and skip lunch breaks to pick-up my kids’,” the report added. “The survey confirmed the widespread nature of this adaptation, with 35.4 percent of respondents having requested flexibility - adjusted hours, remote work - specifically due to school transport duties. This necessity disproportionately affects women, with 38 percent requesting flexibility compared to 23.9 percent of men, reinforcing the gendered nature of reconciling care, transport and employment. “The pressure is significant enough that employers sometimes implement structural changes, as described by one manager: ‘I had to introduce a 12-to-8 shift to accommodate staff who needed flexibility for school runs’. Bringing children to the workplace represents a further coping mechanism, reported by 37.5 percent of caregivers surveyed.” The study’s authors, Lynn Scholl, Orlando Sabogal-Cardona, Daniel Oviedo, Camila CasasCortes and Llando Chea, added that transportation challenges are also a critical factor behind why Bahamian children miss school - with the problem especially acute for those coming from families with zero or one vehicle. “The challenges caregivers face with school transport directly impact children’s consistent access to education. Transport-related issues – including affordability of bus fares, vehicle breakdowns or impassable routes due to flooding – were identified during qualitative work as key reasons for children missing school,” the IDB report said. “This was quantified in the survey, with 17 percent of caregivers reporting their child had missed school days since the term began due to such transport problems. This absenteeism disproportionately affects
children attending public schools (62.3 percent of those who missed school had at least one child in public school). “Access to private vehicles is a strong mediating factor: 22.1 percent of children in households with zero to one car missed school, compared to 12.6 percent in households with two-plus cars. The disparity is starker based on direct vehicle access: 45.8 percent of caregivers without personal vehicle access reported their child missed school, versus 15.3 percent for those with access,” the study added. “Lower socioeconomic status - higher household density - was also significantly associated with children missing school. While this study centres on caregiver impacts, these findings illustrate a critical indirect consequence: Mobility constraints on caregivers translate into reduced educational opportunities for children, potentially impacting their future prospects and perpetuating cycles of disadvantage.” The IDB study also gave an insight into the toll that the ‘school run’ stress is inflicting on the physical and mental health of Bahamians. “Beyond constraints on time and employment,
the daily management of school transportation in Nassau demonstrably affects caregiver subjective well-being,” it warned. “Caregivers consistently described the strain of navigating traffic, co-ordinating incompatible schedules and balancing the school run with work and household duties. This pressure was particularly acute for mothers, especially single mothers, who often felt stretched thin managing multiple roles. As one mother at a primary school said: ‘I’m a single mom with three kids, and it’s overwhelming trying to get everyone to school on time’. “The feeling of ‘juggling work, traffic and school runs’ was frequently described as simply ‘overwhelming’, a sentiment echoed even by those attempting proactive schedule management, like another mother who worked nights: ‘I work nights so I can be available during the day for my kids [...] The stress of juggling work, traffic and school runs is overwhelming.’ “A third participant from a primary school focus group captured the resulting time scarcity and constant pressure: ‘I’m always rushing, juggling between work, school runs and household responsibilities.’ The daily routine itself requires
personal sacrifice and contributes to this stress,” the report added. “The same mother who felt overwhelmed also detailed the needed early start: ‘I’m up at 5am and out of the house by 7am to ensure my child gets to school on time. Instead of eating, I’m stuck in traffic’.” The IDB study said these pressures are causing many parents to become physically exhausted. “Survey data indicates over a third (34.9 percent) of caregivers agree or strongly agree that school transport duties leave them physically exhausted,” it disclosed. “This fatigue reveals inequalities: Parents with children in public schools reported higher average exhaustion (3.0 on a fivepoint scale) than those in private schools (2.7). Women reported higher average exhaustion (2.9) than men (2.5). “Furthermore, the burden appears cumulative, as individuals with other care responsibilities felt significantly more exhausted from school transport (average 3.4) than those without (2.8).” The four schools that were surveyed in the report were Doris Johnson and CV Bethel high schools, and Uriah McPhee and Sybil Strachan primary schools.
THE TRIBUNE
Tuesday, January 6, 2026, PAGE 5
US judge rejects risk of ‘competing injunctions’ BATTLE - from Page B1 advised him not to comment on the ongoing legal battles with Mr Conde that continue to be fought on both sides of the Florida straits. However, he then described Judge Williams’ verdict on the trademark aspect of their dispute as “very positive for my Bahamian company” and referred this newspaper to his US attorney. While the bar on seeking repeat bookings from visitors originally sourced by Mr Conde’s US side of the Conch & Coconut operation likely represents a blow, it is not fatal to Mr Gibson’s business as it does not block him from marketing to new clients or those not secured by his former business partner. Judge Williams’ ruling also means that Conch & Coconut, a prominent and well-known tourism business in Harbour Island, is now at the centre of separate injunctions granted by both the Bahamian Supreme Court and the south Florida federal court. Tribune Business reported last year how the Supreme Court initially gave permission for Mr Gibson to continue using Conch & Coconut’s transportation, equipment and other assets provided they remained in The Bahamas. Then Justice Simone Fitzcharles, on November 14, 2025, ordered that Mr Conde and his US-domiciled companies be barred from interfering or intervening with Mr Gibson and the Harbour Island-based operations until the full trial over the disputes created by the “messy dissolution” of their business partnership occurs. The Order also prevents Mr Conde from filing a winding-up petition, and/ or seeking to put Conch & Coconut’s Bahamian operations into liquidation, over a demand that he be paid $855,774 representing sums allegedly due under a ‘lease and buyback’ deal where Mr Gibson purportedly agreed to acquire the business and its assets from his
US partner via a series of payments to be made over a ten-year period. It is unclear whether the south Florida court’s bar on soliciting repeat visitors originally sourced by Mr Conde cuts across Justice Fitzcharles’ injunction that blocks he latter from interfering or intervening with Mr Gibson’s Briland operations. Still, Judge Williams’ ruling represents the latest development in a bitter dispute that has produced allegations of Bahamians ‘fronting’ for foreigners in industries supposedly reserved exclusively for 100 percent ownership under the National Investment Policy; unpaid Bahamian taxes that at one stage totalled more than $1m, with over $800,000 still said to be outstanding; and claims of ‘fake’ Business Licences. The Florida judge, in her verdict, recalled how Mr Conde operated the US side of their partnership, Conch & Coconut LLC, with Mr Gibson doing likewise for the Bahamian operation, Conch & Coconut Ltd (CCL), from 2018 until their acrimonious break-up last year. Mr Conde dealt with the marketing and booking aspects, while his former Bahamian partner managed and oversaw operations on the ground in Harbour Island. “In essence, LLC booked customers and provided capital for asset purchases while CCL met the customers at Harbour Island, serving as their on-theground concierge,” Judge Williams wrote. “This arrangement worked for the parties for several years, albeit without any written instrument to memorialise their respective understanding as to their roles and responsibilities.” She described the tenyear lease and buyback deal agreed between Mr Conde and Mr Gibson as “relatively sparse, and the provisions are not optimally developed”. However, it agreed that all assets and intellectual property rights would be transferred to the
latter and Bahamian operation once payment was satisfied, with both sides agreeing that Mr Gibson’s company “did in fact function as an independent business”. Tribune Business previously reported that the ‘lease and buyback’ deal commits Mr Conde to settling all outstanding VAT and Business Licence fee debts with the Department of Inland Revenue, but he previously refused to pay on the basis that the taxes demanded were “grossly inflated” and he and Conch & Coconut - are actually owed $100,000. Judge Williams recalled how Mr Gibson informed Mr Conde on May 16, 2025, that the Harbour Island business would be closing “citing issues with unpaid Bahamian taxes”. That same day, Mr Conde alleged that Letamae Johnson, one of Mr Gibson’s co-defendants in the US battle, “began to edit [LLC’s] existing bookings, cancelling them or lowering the total pricing for the booking[s] to match the deposit amount”. “Subsequently, on May 19 and May 21, defendants Johnson and Gibson downloaded all of LLC’s customer and booking data from LLC’s original domains, fareharbor.com and hubspot.com,” Justice Williams wrote of Mr Conde’s claims. “Plaintiffs allege that defendants are continuing to operate a concierge business in the Bahamas using this misappropriated data.” Describing the grant of an injunction as “an extraordinary remedy’, she added: “The Parties in this matter apparently operated for years on a ‘handshake deal’. The business arrangement between LLC and CCL existed outside the parameters of any written instrument or communication. “Years into the arrangement, the parties decided to enter into a written agreement and executed the [lease and buyback] agreement. But even that agreement did not contain many traditional contract
provisions, including certain intellectual property and termination clauses that would have been relevant to a resolution of this case. “Nonetheless, the parties operated their respective businesses for several months after the execution of the agreement. However, as the parties exchanged funds pursuant to the agreement, friction developed owing to various events relating to the parties’ operations and interactions with the Bahamian authorities.” Judge Williams agreed with Mr Gibson that Mr Conde had “lost any trademark rights it may have had by granting a naked licence” to the Bahamian operation. She described the ownership of Conch & Coconut’s trademark and intellectual property rights as “murky”, as Mr Conde did not successfully register them in the US until 2023. “During the October 31 hearing, plaintiffs [Mr Conde] continued to assert that Conch & Coconut operated independently. Although plaintiffs allege that they helped with various business matters, like paying back taxes and helping obtain a Business Licence, Mr Conde testified that Conch & Coconut is an independent entity and Mr Gibson was solely responsible for its operations,” Judge Williams wrote. “In their reply, plaintiffs argue that they did not grant a naked licence to defendants [Mr Gibson] because they ‘maintained control of branding, the customer and booking platforms, and the website’. None of these steps, however, gave plaintiffs any control over defendants’ operations in the field and plaintiffs do not otherwise contend that they could control Conch & Coconut…. “Accordingly, even if the LLC had priority in the use of its trademarks, it abandoned those rights by allowing an unfettered licensee to operate in the marketplace. “Therefore, the court finds that plaintiffs have not shown a substantial likelihood of succeeding on its
trademark infringement claims.” However, Judge Williams found against Mr Gibson and the Bahamian operation over the use of customer information. After deciding that this data met the US legal definition of ‘trade secrets’, she added: “The question then becomes whether defendants misappropriated the trade secrets. “Defendants [Mr Gibson] claim that they cannot misappropriate the customer list and booking information because they were the rightful owner of the data in question. Specifically, defendants argue that since they were ‘the ones providing services to customers’ they were the rightful owners of the booking information and customer lists. “Plaintiffs counter that defendants used their credentials in an unauthorised manner to access and download the customer list and booking information. Plaintiffs also allege that Mr Gibson ‘sent an e-mail [to] all of [LLC’s] past clients, announcing the launch of www.conchandcoconutbahamas.com’ in an apparent use of the misappropriated customer list,” the judge added. “The fact that defendants provided services to customers that plaintiffs sourced does not give sefendants any ownership interest in data, originated and maintained by plaintiffs, regarding the customers’ information or bookings. Accordingly, when defendants reached out to consumers from plaintiffs’ customer list and solicited their business, they misappropriated plaintiffs’ trade secrets.” Judge Williams also found that Mr Conde and his business “will suffer irreparable harm absent injunctive relief as they are likely to suffer the continued loss of customers through Conch & Coconut’s misappropriation of their customer list and booking information”, rejecting Mr Gibson’s assertion that such a fate would
befall his operation if such a bar was granted. “As stated repeatedly, this court is not enjoining activity in The Bahamas and defendants do not offer any explanation as to why narrow injunctive relief focused on defendants’ ability to access plaintiffs’ American consumers tips the court’s calculus in their favour,” the judge ruled. “At this preliminary stage, because defendants do not satisfactorily explain how narrow injunctive relief focused on the use of misappropriated information for marketing activities in the US will subject them to harm that outweighs the potential harm to the plaintiffs, the court finds that the balance of hardships tips in the plaintiffs’ favour. “Defendants argue that the public interest tips against the issuance of a preliminary injunction. Again, defendants focus their argument on the impact of the injunctive relief in The Bahamas, explaining that ‘the court risks competing injunctions’ and premise their brief discussion on the court’s potential determination ‘that a Bahamian company may be enjoined for its activities in The Bahamas’,” Judge Williams continued. “Again, defendants do not discuss how narrower injunctive relief, focused solely on defendants’ engagement with American consumers, tips the public interest factor in their favour. Because the public has an interest in preventing the misappropriation of trade secrets, the court finds that the issuance of a preliminary injunction serves the public interest.” The Florida judge concluded: “The court agrees with defendants that plaintiffs granted defendants a ‘naked licence’ and thereby extinguished any potential trademark infringement claim. “However, plaintiffs have clearly established that they are entitled to injunctive relief with respect to the misappropriation of their customer data and booking information.”
Carrier ‘lifeline’ for Chamber president’s grocery business CHARGES - from Page B1 use them weekly without fail. Sometimes I have more than one container. They offer good, reliable service, especially with the perishables business that I am in. They are a lifeline for us in the island. “The reality is that there’s escalating costs and fees all around. It doesn’t stop. It’s not only shipping but on a number of levels. Government compliance and regulation are increasing costs. This year we are doing an audit [for Business Licence and VAT]. We were below the threshold in the past. The cost of the audit is $20,000 to $30,000. Where do you recover it? You have to pass it on to the customer. The consumer will pay.” King Ocean’s website shows it provides freight cargo services to Freeport four times’ per week from Monday through Thursday; twice weekly to Marsh Harbour in Abaco, Exuma, Bimini and New Providence; and weekly calls to Eleuthera (Spanish Wells, Harbour Island and Governor’s Harbour); Andros;
Cat Island; Long Island; San Salvador, Cat Cay; and the Berry Islands. Besides the increase in full container rates, King Ocean is also raising lessthan-container load levies by nine cents per cubic foot or 18 cents per hundredweight (CWT), with a $2 charge set to be applied on a lump sum or per pallet basis. Motor vehicles will be hit with a $45 increase for those up to 700 cubic feet in length, with those exceeding this benchmark facing a $3.18 per cubic meter charge. Break bulk cargo will face an extra $3.18 per cubic feet, while heavy equipment will incur an extra nine cents per cubic foot. “We’re in for a rough ride over the next couple of years,” Mr Sands told Tribune Business. “I don’t see where it’s going down. They’re [King Ocean] doing what they have to do to make the numbers work, other businesses will have to pass on the costs and it will be harder for businesses and consumers to make it. They have to increase costs. It’s the reality we face.”
NOTICE
NOTICE is hereby given that JACQUELINE JACKIE PHILIPPE of Bacardi Road, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration/ Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 6th day of January 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
He added that, even if the actual cost of food itself is not being increased, then prices in another part of the supply and logistics chain are. The Bahamas is especially vulnerable to external inflationary pressures, such as Donald Trump’s tariffs, because it imports virtually all that it consumes. “It’s not just the purchase of supplies from a vendor,” Mr Sands explained. “It’s all these other costs that end up being added that must be recovered. I don’t see it diminishing in the Family Islands. These shallow water ports have created issues for goods. If we had deeper water ports and better infrastructure to reduce the cost of operations, economies of scale would make sense.
“Doing the comparison between being in the city and the Family Islands, economies of scale are a challenge, access to infrastructure is a challenge. Every time you have a delivery - we’re having deliveries from Nassau and the US every week and these price points, the costs, are changing. Even if the price point on the food item is not changing, the cost of delivery, execution and being able to offer service on the Family Islands is changing almost every day.” Energy costs and the reliability of key utilities, such as Internet communications, provide further difficulties for the private sector. Mr Sands said that, while there may be cheaper
shippers than King Ocean, the company offers the necessary full-load refrigerated containers that are critical to providing the produce his customers have come to expect. “In the past we have lost full containers, $30,000$40,000 in inventory, with other carriers,” he said. Roscoe Thompson, head of the Marsh Harbour/ Spring City Township in Abaco, told Tribune Business he was unaware of King Ocean’s move and queried if other shipping companies are also
planning to increase their rates and freight charges. Stating that he planned to obtain further information, he added: “Unless other shipping companies go up it’s going to really hurt their business as some will go with a different carrier. If they are going to be increasing their shipping prices and the other companies don’t, it will be detrimental to them, but if all the other shipping companies increase, it will be detrimental to consumers in Abaco.”
NOTICE
The public is hereby advised that I, DEBORAH VALERICE WINDER MCFARLIN of 3219 Letha Woods Dr, Conyers, GA 30094 intend to change my name to DEBORAH WINDER MCFARLIN. If there are any objections to challenge the name by deed poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of the publication of this notice.
NOTICE is hereby given that NISHKA FELIX of Golden Isles, Carmichael Road, Nassau, The Bahamasis applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 6th day of January, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
NOTICE is hereby given that RODRIQUE DECLAMA of P.O. Box General Post, Keywest Street, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration/ Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 6th day of January 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE is hereby given that EMMANUEL ULYSSE of P.O. Box General Post, Washington Street, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration/ Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 6th day of January 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
PAGE 6, Tuesday, January 6, 2026
THE TRIBUNE