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WEDNESDAY, JANUARY 19, 2022

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‘Expect hardship’ from inflation, interest hikes By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A FORMER finance minister yesterday warned that “every family can expect hardship” from rising inflation that will exceed the current 7 percent rate in the US. James Smith, also a former Central Bank governor, told Tribune Business that The Bahamas will likely see “US inflation rates-plus” due to its consumption-based tax system that will exacerbate the impact of a sustained rise in the cost of goods and services imported from the country’s northern neighbour. And, with the cost of living increasing, and living standards and disposable incomes falling, he warned that an “already depressed” economy could come under further pressure from workers demanding salary increases that keep pace with inflation. Strikes and work stoppages could result if unions fail to get their way, Mr Smith

Sir William’s son hits back in $144k dispute By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A SON of the late Sir William Allen yesterday denied that his father owed a $144,000 debt to a local businessman, and argued that any obligation to repay hinges on a “deal” that has not ANDREW ALLEN yet closed. Andrew Allen, an attorney by profession, alleged to Tribune Business that the sum claimed by Tony Myers, who previously held leasehold rights to Ocean Cay for aragonite mining before it was taken over by Mediterranean Shipping Company for its private cruise port, was an “investment” as opposed to a loan made to the former Bahamian finance minister. Refuting Mr Myers’ assertion that the $144,000 was a past due and “outstanding” loan due to him, Mr Allen countered that the disputed sum was instead an investment by the businessman in efforts by Sir William, himself and others - who he declined to name - to obtain title ownership to the 163-acre Crab Cay island in the Abacos. Mr Allen said efforts to obtain title via the “quieting” process, and then develop and/or sell the island, had become bogged down after local TV/radio personality and activist, Rodney Moncur, had filed an “adverse possession” claim on behalf of two of his aunts alleging they had ownership rights to land on Crab Cay. Sir William’s son said Mr Moncur had initially agreed to work with himself and the others to sell and develop the island, located north of Green Turtle Cay, but then had second thoughts and backed away from the deal. As a result, efforts to “quiet” title on Crab Cay have stalled and, as a result, Mr Allen and his late father’s estate are arguing that any obligation to repay Mr Myers has not yet been fulfilled. Pointing out that the Supreme Court legal battle is still ongoing, with Mr Myers having been given 21 days by Justice Ian Winder to submit a revised claim, Mr Allen said the only decisions taken thus far were to remove himself as a defendant and strike out the businessman’s demand that Sir William’s estate pay him $66,000 in interest on the basis that this was “usury”. And Mr Allen also took exception to Mr Myers’ description of the relationship he had with the late Sir William. The businessman had told this newspaper that “Sir

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Government need to tap the capital markets again. Simon Wilson, the Ministry of Finance’s financial secretary, told Tribune Business last week that it was “too early to say” how inflation and the anticipated Federal Reserve response will impact the Government’s financial position and borrowing plans to cover the 2021-2022 and upcoming deficits. The Davis administration had pushed back the $800m international bond issue left by its predecessor to the second half of the current fiscal year, and Mr Wilson said no decision has yet been take on whether

JAMES SMITH to proceed with it in a climate where The Bahamas (taxpayers) will likely have to pay more for debt capital. “It’s still under consideration,” he added of the $800m bond. “If market conditions improve we will probably do it. It depends on market conditions and the advice we get.” As for inflation, Mr Wilson said the Government and wider economy would simply have to “adjust” to it was “part of an

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COVID food initiative had ‘highest level of integrity’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE probe into the $51m COVID food assistance initiative will conclude that taxpayer funds were “used to the greatest effect” if it is unbiased, a governance reformer asserted yesterday. Matt Aubry, the Organisation for Responsible Governance’s (ORG) executive director, told Tribune Business that the National Food Distribution Task Force and non-profit groups that used government monies to feed thousands of Bahamians at the pandemic’s peak operated with “the highest level of integrity”. Speaking from the vantage point of a group that was involved with the Task Force and feeding programme’s creation, and worked “to ensure things were done above board” in how the COVID food programme operated, he said all groups involved

NIKITA MULLINGS

GB Power’s ‘major cash flow constraint’ warning

• Ex-finance minister: ‘Every family’ will feel effects • Predicts Bahamas to see ‘US-plus inflation’ rates • Wage pressures could lead to strikes, stoppages said, with pay rises possibly further fuelling inflation. The ex-minister of state for finance added that the Government’s already-delicate fiscal position also faces “some serious headwinds ahead” if the Federal Reserve, the US central bank, tightens monetary policy as forecast via a series of three to four short-term interest rate hikes in 2022. This, Mr Smith said, could result in increased debt servicing costs for any part of The Bahamas’ $4.5bn US dollardenominated debt, while also increasing the interest burden on any new issuance should the

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MATT AUBRY had “tremendous respect for the public’s funds and the need to use them to the greatest effect”. The ORG chief voiced disquiet that the Government had released partial and incomplete findings of an audit into the COVID food assistance initiative, adding that it was “hard not to come to that conclusion” that the weekend disclosures by the Prime Minister’s communications director were designed to distract from the

• Lower electricity rate hike to ‘slow down’ reinvestment • Says 42% of households to see bills rise by ‘under $1’ • Cuts recovery of Matthew restoration costs to fit flow By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

controversy surrounding the Dubai trip. Mr Aubry said members of the Task Force, and non-profits such as Bahamas Feeding Network, Hands for Hunger, the One Eleuthera Foundation and the Red Cross, would likely welcome scrutiny from an objective audit as they had nothing to hide over how taxpayer funds were used and the programme managed. And, while arguing that the findings could provide The Bahamas with invaluable lessons on how to respond better in future emergencies, he urged that politics be kept out of the evaluation and its findings. Confirming that ORG had played a role in ensuring the Task Force had the resources and structure that was up to the task, Mr Aubry said: “They scaled up pretty quickly to meet a need that was far beyond the Government’s capacity. This was a new entity that came forward, and

GRAND Bahama Power Company yesterday said it will suffer “a significant cash flow constraint” after it was granted just 53 percent of the base electricity rate increase it was seeking. The island’s sole utility-scale provider, in e-mailed responses to Tribune Business questions, said as result it will have to cut operational costs and capital investments, “particularly in 2022”, with planned network infrastructure upgrades “slowed down” and delayed. Acknowledging that “no one wants to see rates increase”, GB Power nevertheless said its approved base rate rise will have no impact on the 20 percent of residential consumers who consume the least energy. And those using between 201 and 350 kilowatt hours per month (kWh) will see an increase of just “1 percent or less” when the hike takes effect from April 1, 2022. Making the case that its revised base tariff will result in an almost-negligible increase to households’ electricity bills, GB Power told this newspaper that “the average residential customer” would see a $3.50 increase in their monthly energy costs. And 42 percent will see a rise of “less than $1 per month”. The utility said the Grand Bahama Port Authority’s (GBPA) decision, as its regulator, to grant an average base rate increase of 3.3 percent, as opposed to the 6.3 percent hike originally sought, will cause short-term issues when it comes to generating sufficient cash flow that will allow it to reinvest in upgrading its network assets. “The rate review process was rigorous and pushed us hard to examine ways in which we could reduce costs,” GB Power told Tribune Business. “The reduction to 3.3 percent by the regulator will cause a significant cash flow constraint,

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Digital payments player sees off Sebas seizure By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN digital payments provider has successfully fought off a bid to seize control of its operations by fully repaying the debt owed to Sebas Bastian’s investment house. Justice Ian Winder, in a January 13, 2022, verdict, confirmed that Investar Securities had sought to “withdraw the entire action” it brought against Sun Island Transfers, which trades as Sun Cash, after the latter made “full payment of its outstanding indebtedness”. “In my view there is nothing further to be obtained in the action, and it must be withdrawn or otherwise dismissed,” the judge added. “The plaintiff [Investar], having accepted the

SEBAS BASTIAN sums owed to it, there is no likelihood of the appointment of a receiver over the assets of” Sun Cash. Justice Winder also ordered that Investar Securities pay Sun Cash’s legal costs associated with a June 30, 2021, verdict in

which Judge Winder ejected the investment house’s attempt to have Philip Galanis, the HLB Galanis & Company managing partner, appointed as interim receiver/manager for the digital payments provider. No figures were provided for Sun Cash’s debt repayment, or how much it won in legal costs. Barry Malcolm, Sun Cash’s principal, declined to comment on this when contacted by Tribune Business yesterday. It is understood that the debt was repaid via cash flow rather than any new investor buying into Sun Cash. Investar, which is the investment and financial services arm of Mr Bastian’s Brickell Management Group (BMG), had originally sought to convert a loan made to Sun Cash into a 49 percent equity ownership

interest in the well-known electronic payments solution provider. However, its plans were scuppered by the Central Bank of The Bahamas, which refused to approve Investar’s ownership move on the basis that it would violate “their policy of excluding gaming-related entities from the money transmission business”. The “gaming” reference alludes to Mr Bastian’s ownership of the Island Luck web shop chain, which is widely regarded as the domestic market leader. The Central Bank also mandated that Sun Cash seek a new investor to acquire that 49 percent shareholding by yesterday. However, undeterred at being thwarted by the Central Bank, Investar just one month later sought the Supreme Court’s

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PAGE 2, Wednesday, January 19, 2022

THE TRIBUNE

SIGNS OF THE TIMES A

LMOST two years later and there is seemingly no end in sight to the COVID-19 pandemic; the fifth such declared event since 1918. This particular one, though, harnesses the power of the Internet

to drive its messaging. The media impact, notwithstanding the global spread, has been immediate and consistent. Perhaps the coverage has done more damage than the actual virus, but that is another story.

The novel coronavirus was initially named 2019-nCov, and then renamed SARS-CoV-2. This is not new, but represents a viral strain that has been a part of the ecosystem for more than 60 years. Only with the first outbreak of SARS in 2003 did this strain begin to get any attention, as it was seen to have deadly impacts for humans. The documentation surrounding the study of this virus can be traced back to 1965. However, I am confident that, like most crime that goes undetected for long periods, the 1965 date is only one of discovery, not the arrival. From its discovery in Wuhan, China, in late 2019, this COVID-19, Omicron and every variant hereafter is here to stay, as such creating a new normal. Normality, in case you did not know, is relative to where you are. It has become, in many instances, a moving target so you must be flexible and adaptable in readiness, response and recovery strategies. In the corporate arena, that normality is dependent on several variables such as resources, skill sets, regulatory oversight and the like. As such your risk appetite and tolerance should be adequately delineated to ensure that the appropriate effort is directed to the right place. This is a genuine effort also known as risk management,

SAFE &

SecurE BY GAMAL NEWRY

and attempts to make sense of the unpredictability of real world events, which is easier said than done. In my lifetime as a security and risk management practitioner, I can only recall the September 11, 2001, terror attacks as having a comparable global impact on how we do business, live and travel. The adjustments we all had to make are very evident 20 years later. We willingly undress, allow trained strangers to touch our body parts, search our bags and expertly determine that five ounces of lotion is safe, but eight ounces is a security risk? Go figure The events leading up to 9/11 gave us clear indicators of the need to ‘sweat the small stuff’. The attacks on the World Trade Centre and Pentagon were executed by low-key operatives who hijacked commercial airliners with box cutters. Essentially, they manipulated a system, that for 30 years prior, was looking for more overt devices,

such as firearms or bombs. In 1993, the attack on the World Trade Centre came from a van filled with explosives. Who would have thought that less than ten years later the training ground would have been the US and it would come from the air? So, what is the lesson here? As you embrace your operations with the intention of making up for impacted performance over the last 18-22 months, note the unusual and inconsistent behaviour of customers and staff alike. Do not sacrifice potential gains by ignoring real threats. The data is there. More important, determine what are your break points or, as they say, what are your single points of failure. Depending on your company and its operational footprint, there may be multiple critical componentss. Learn them, define the threats and establish contingencies that a six year-old can implement. In this digital age, this monitoring must extend to online transactions and interactions. Your catapult to fame via Tik Tok and Instagram comes with a price. You are now international, and this newfound fame will attract both friend and foe. Regular reviews of your digital transactions must go handin-hand with your physical systems review. Many companies bolster one aspect and delay the other. In the past, I have been engaged by clients who were very proud of their cyber security controls, but failed to deploy physical controls or adequate access rights.

The ‘devil is in the details’, as the saying goes. It always amazes me how the little things make the biggest impact. But yes, the little things can also be positive even if they appear negative in the first iteration. Too often we overlook or ignore the little signs of exposure, but seem surprised when the large incident that brings our systems and operations to a standstill occurs. The small cracks and behavioural differences mean something. Our efforts to gain additional revenue or market share are placed at risk, notwithstanding the clear signs of system and operational deficiencies. Continuous improvement is the standard for a comprehensive management system, as systems must be seen as fluid and constantly changing. It has been more than two years since we last wrote in this space, we have dusted off the cobwebs and are committed to helping navigate the complexities of asset protection and loss prevention management. Times have indeed changed, but we must adapt and adjust. Until next time, have the warmest, safest and securest New Year. NB: Gamal V. Newry is the president and senior consultant for Preventative Measures. He brings over 35 years of insight and experience as it relates to crime and security risk management. Comments, inquires and questions can be sent to info@preventativemeasures.org

MINISTER SEEKS PARTNERSHIP TO CUT $1.4BN FOOD IMPORTS A CABINET minister has urged Bahamian farmers to partner with the Government and help slash the country’s annual $1.4bn import bill. Clay Sweeting, minister of agriculture, marine resources and Family Island affairs, made his call at a Zoom conference attended by some 250 farmers this

past Monday where he reaffirmed the Government’s commitment to import substitution via domestic production. “The Government is committed to increasing food security as 90 percent of the food consumed in the country is imported. We believe that farmers can assist in reducing this bill,” he said. “Currently, we are promoting ‘Buying Bahamian’ and have asked hotels, restaurants and food stores to ensure that at least 40 percent of their produce is sourced from local sources. The Government has committed to source 75 percent from local agricultural products.” Mr. Sweeting said there are several components to the Government’s plan. These include the creation of a website and social media platforms to link with farmers; public relations campaigns to inform

Bahamians; enhancing The Bahamas Agricultural and Marine Science Institute (BAMSI); and incentivising young persons to enter the farming industry. The Ministry is also working with the Bahamas Agricultural and Industrial Corporation (BAIC) on a food mill for livestock, with the latter agency also making efforts to further develop the cascarilla industry. “We must work together to co-ordinate our resources so that we can feed ourselves. Therefore, over the next five years, we are committed to advancing this cause,” Mr Sweeting said. Multiple issues and concerns were raised by farmers, including challenges with packing houses, which have limited hours and days of operation and limited capacity for refrigeration; the need for training; marketing; a real

commitment from stakeholders such as restaurants, hotels and food stores; proper and adequate land clearing equipment; fair market pricing; and access to funding and duty-free allowances. Other concerns included security for farms, which face constant burglaries and raccoon and other rodent infestation, and a need for one-stop shops for farmers. The minister’s team included Leroy Major, BAIC’s executive chairman; Senator Tyrel Young, BAMSI’s executive chairman; Leonardo Lightbourne, parliamentary secretary in the Ministry of Agriculture, Marine Resources and Family Island affairs; and its permanent secretary, Phaedra Rahming. The issues raised by the farmers were addressed and discussed, with a promise to follow-up and meet again.

THE TRIBUNE

Wednesday, January 19, 2022, PAGE 3

GOV’TS ‘STRONG STANCE’ LIMITED GB POWER HIKE By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A CABINET minister yesterday said the Government’s intervention was responsible for the 47 percent reduction in Grand Bahama Power Company’s base electricity rate increase. Ginger Moxey, minister for Grand Bahama, told reporters ahead of the weekly Cabinet meeting that the hike in the island’s energy costs would have been even higher without the pressure applied by the Davis administration to both GB Power and its regulator, the Grand Bahama Port Authority (GBPA). The GBPA’s approval granted Grand

Bahama’s sole utility-scale energy provider an average base rate increase of 3.3 percent, as opposed to the 6.3 percent rise originally sought, and Mrs Moxey said: “There was a Cabinet sub-committee that was appointed to address the rate application by GB Power. “We did meet with the GBPA and GB Power to express our strong stance against any type of rate increase. We note in a letter that was sent yesterday that there was an approved increase, but it was reduced from 6.3 percent to 3.3 percent, and we believe that this was based on our strong position.” Ms Moxey said she was “absolutely” satisfied with the decrease, although this represents a retreat from the Government’s

original position that “Cabinet will not support a rate increase on any portion of the customer base at this time”. “I would never be satisfied with any type of increase, but after going to Cabinet we will issue a statement on it,” she added (see article on Page 1B). The Cabinet committee she referenced featured three ministers with strong Grand Bahama connections. Besides Mrs Moxey, they included one of her predecessors, Dr Michael Darville, now minister of health and wellness, and Obie Wilchcombe, minister of social services and urban development, who is also MP for West End and Bimini. The committee’s other members include Alfred Sears, minister of works and

utilities, who has responsibility for Bahamas Power & Light (BPL), and Ryan Pinder, the attorney general. GB Power had initially been seeking a near-$5m increase in its annual base revenue to $66.5m due to increased insurance premiums and the need to recover costs associated with restoring its transmission and distribution network following Hurricane Matthew in 2016. Mrs Moxey added: “At the end of the day, we continue to call for compassionate leadership, because people continue to be hurting throughout the country but on Grand Bahama in particular because of what we’ve gone through as a result of Hurricane Dorian, and the pandemic and hurricanes before that.”

VAT CUT TO HELP OFFSET SURGE IN LOCAL PRICES By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A CABINET minister yesterday said the VAT cut has helped offset some of the inflationary impact Bahamian consumers are now feeling from higher prices on food and other essentials. Senator Michael Halkitis, minister of economic affairs, told reporters ahead of the weekly Cabinet meeting that The Bahamas cannot escape broad-based inflation and

price increases because the country imports most of what it consumes. As a price taker, it has little impact on the cost of goods other than via adjustments in taxation policy. “What is happening is we import most of what we consume here in The Bahamas, and so prices have been going up due to certain challenges with the supply chain,” he said. “We’ve seen prices at the highest level for quite a number of years in the United States, where they’re experiencing issues with supply and, of course,

prices are going up as a result. Hopefully it works itself out over the next weeks and months so we can see a reduction, but it is a function of imported inflation.” US price increases are occurring at rates not seen for decades. US inflation soared year-over-year by 7 percent in December 2021 - the seventh consecutive month in which it topped 5 percent. The month-overmonth increase was 0.5 percent. Most industries have felt sharp increases in raw material prices and

labour costs due to backlogs and supply chain bottlenecks associated with the COVID-19 pandemic, while worker shortages have impacted ports, transportation and other key sectors. Many have blamed these shortages, and rising inflation, on the US government failing to yet scale back pandemicrelated assistance.

Members of the Grand Bahama business community yesterday remained opposed to the GB Power rate increase. James Rolle, Dolly Madison’s general manager, told Tribune Business: “Unless the Government becomes the voice of its people, the hand of suppression by the GBPA and its subsidiaries will always operate in a profiteering mode.” Unveiling a decision where it appeared to be trying to find a middle ground, and be all things to all men, the GBPA statement said the final approval had slashed the rate increase by 47 percent compared to the original proposal. And, trying to further appease GB Power’s customers, it said the revised electricity rate

structure’s implementation has been pushed back until April 1, 2022. “GBPA worked diligently with its utility expert consultant and GB Power, which resulted in a revision of the original application. We are pleased to say the final filing has resulted in notably decreased numbers, with a reduction to 53 percent of the original filing,” the Port Authority said in a statement. “On January 14, GBPA communicated its approval to GB Power of the revised application and reduced base rate increase to 3.3 percent. Furthermore, the implementation of any increase has been deferred to April 1, 2022, to ease the roll-out impact for customers.

Mr Halkitis, meanwhile, dismissed speculation that current inflation in The Bahamas is being caused by retailers hiking prices to take advantage of the VAT rate reduction to 10 percent. He said: “Be reminded now. VAT went down from 12 percent to 10 percent on thousands of goods and services. “As a matter of fact, the reduction in the rate of VAT would have contributed to the prices not going up as much as if it had stayed at 12 percent.” Without

the VAT reduction, prices would be higher than what consumers are experiencing now, he added. Acknowledging the 7 percent US inflation increase, Mr Halkitis said: “I think the rate was about 7 percent, which I think was the highest in 30 years. So, we being an importing country, we will feel the effects of that. As I said, hopefully, in the coming weeks and months that begins to work itself out, and we can begin to see some reduction.”

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PAGE 4, Wednesday, January 19, 2022

THE TRIBUNE

GB POWER’S ‘MAJOR CASH FLOW CONSTRAINT’ WARNING FROM PAGE ONE

particularly in 2022, that will have to be managed through operational and capital cost reductions.” GB Power had initially been seeking a near-$5m increase in its annual base revenue to $66.5m, asserting that this was needed to cover both increased insurance premiums and recover costs associated with restoring its transmission and distribution network following Hurricane Matthew in 2016. In a presentation posted on the GBPA’s website to support the original 6.3 percent application, GB Power said it needed to recover a $2.3m increase in insurance costs stemming from claims submitted over the damage inflicted by hurricanes Matthew and Dorian.

Taking 2018 as a benchmark, GB Power’s presentation showed insurance premium costs rising from $2m in that year to $4.3m in what it described as “a test year”. Also included in the $5m was the $2.2m “amortisation of regulatory assets”, which is the utility’s recovery spread out over time - of costs associated with restoring its transmission and distribution network after Matthew. GB Power yesterday said the 47 percent reduction in the average tariff rate increase had been achieved by lowering this recovery of Matthew-related restoration costs. “The reduction has been achieved by reducing the amortisation of regulatory assets. These are expenses which have

been made in the past by GB Power and not yet recovered through rates,” it added. “These reductions reduce the cash available to the utility, and therefore will slow down reinvestments in line with available cash flow.” However, GB Power said the impact will be lessened via the late 2021 debt refinancing carried out with support from its 100 percent owner, the Canadian utility giant, Emera. “GB Power, with support from Emera, was able to refinance debt at the end of 2021 which reduced our revenue requirement,” it said. It did not provide details on how much debt was refinanced, and on what terms, or how much this had lessened its “revenue requirement” before press time, despite Tribune Business posing the question. Suggesting that the lower-than-desired base rate increase will have the greatest impact in the shortterm, GB Power added: “While we may be slowed down in the short-term due to reduced cash flow, as long as we see a rebound in sales to pre-COVID levels we are still on track for our planned $80m investment in the longer term. “This will be spent on plant maintenance, transmission and distribution (T&D) system upgrades to enhance reliability, solar plant and battery storage and AMI (automated metering infrastructure). We know no one wants to see rates increase, but this adjustment is necessary for us to be able to continue to invest in our operations and to maintain safe, reliable

and increasingly renewable electricity service for customers for years to come.” Pledging to “continue to deliver a robust energy efficiency programme to guide customers in managing electricity use and minimising monthly energy costs”, GB Power suggested that the approved base rate increase would have minimal impact across all residential customer categories, implying that fears about its impact on hard-pressed consumers are overblown. “A new tier has been established for customers consuming zero to 200 kWh, representing about 20 percent of the residential customer base,” GB Power explained. “For those customers, there will be no increase in their rate. Additionally, residential customers consuming 201-350 kWh will see an increase of 1 percent or less. “Therefore, 42 percent of residential customers will experience a total bill [increase] of 1 percent or less. That translates to less than $1 per month. Total monthly energy bills across all classes will increase by 2 percent to 2.5 percent depending on consumption levels. For the average residential customer, this represents about $3.50 per month.” The creation of the under 200 kWh tier was approved by the GBPA as part of the base tariff increase. “GB Power’s monthly bills encompass base rate and fuel charge rate,” said Nikita Mullings, its chief operating officer. “The total monthly energy bills will increase by 2 percent to 2.5 percent depending on consumption levels. For the average residential customer, this represents about $3.50 per month. Those residential customers who consume up to 200 kWh per month – those who fall in the new

Efficient User tier – will see no increase in their rate.” GB Power, though, did not break down the impact of the approved base rate increase on its business customer categories despite being asked to by Tribune Business. “We looked carefully at all financial and operational areas, and put into place several cost-savings initiatives, including refinancing debt and further curbing operational and capital expenses, to enable us to develop a revised, more balanced rate adjustment than initially sought,” said Ms Mullings in a statement. “A key goal in our proposed filing was to minimise, to the extent possible, the impact on vulnerable customers in our communities. We’re pleased that about one-fifth of our customers will not experience a rate increase. For others, including residential, commercial, and industrial customers, the all-in increase will be less than 3 percent.” GB Power said it has so far installed 5,000 smart meters and related infrastructure, and aims to extend this to 75 percent of its customer base by late 2022. “With the GBPA’s approval, we can continue to make critical investments in operations that will allow us to support the country’s National Energy Policy and deliver on our commitment of enabling about 15 percent of our generation from renewable sources by 2026,” said Ms Mullings. “These investments set the stage for a cleaner and more independent energy future for Grand Bahama, and that will translate to future cost savings for customers and a reduction in our carbon footprint.” The Government, meanwhile, hailed as its victory the fact that GB Power had only been approved for an

average 3.3 percent base tariff increase as opposed to the originally-sought 6.3 percent hike. Its statement, though, effectively acknowledges that it had to rely on moral suasion to make its case, as it had no legislative or regulatory powers over the parties involved.] Ginger Moxey, minister of Grand Bahama, referring to the Cabinet sub-committee that met with the GBPA and GB Power on the issue, said it had “advocated for the residents and businesses of Grand Bahama at a time when the impact of Hurricane Dorian and COVID-19 is still evident”. “From the outset, the committee issued a strong response to the initial filing of the application and clearly stated that the Davis administration does not support any rate increase on any portion of the customer base on Grand Bahama,” she added. “Since this time, the committee met with both GBPA and GB Power and emphatically reiterated the Government’s position that this is not the time for an increase in power rates, especially [given] that residents and businesses are still trying to rebuild. “The committee was successful in persuading GB Power to revise their proposal, which resulted in a decrease from 6.3 percent to 3.3 percent, by almost 50 percent. The committee reiterates its position that any increase is difficult for the many residents and businesses still struggling to survive,” Mrs Moxey continued. “The Government continues to call for compassionate leadership during a time when social consciousness should be an integral part of the restoration of the Grand Bahama community and economy.”

THE TRIBUNE

Wednesday, January 19, 2022, PAGE 5

‘EXPECT HARDSHIP’ FROM INFLATION, INTEREST HIKES FROM PAGE ONE economic cycle” that The Bahamas has little control over. “The reality is that we were in a low interest rate environment for the last ten years or more,” the financial secretary said. “We knew that this would come to an end, and we have to adjust to it. The way we adjust to it is by reducing the debt and deficit levels, and that’s part of the plan.” Mr Smith, meanwhile, reiterated the position outlined by current Central Bank governor, John Rolle, last week that The Bahamas must hope its post-COVID tourism revival and continued economic re-opening offset the impact from inflation and any US monetary policy actions. “We import inflation because we bring in probably 90 percent of what we consume from the US,” he said. “Price changes there translate into price changes here. Our inflation rate here will be US inflation rateplus because it’s likely our prices will be pushed up higher than in the US.” While consumptionbased taxes, such as VAT and import tariffs, will exacerbate the problem through being levied on higherpriced imports, Mr Smith said some merchants will also likely use the situation to “add on” and increase their margins. “This is happening without any changes in disposable income among the local population, so they can expect hardship that every family would experience,” he told Tribune Business. “With what essentially are fixed incomes, people will be able to buy less goods and services because of price increases, and that will have an impact on general output. “It just compresses the economy a little bit more. You’re paying the same for a lesser amount of goods and services being purchased, and the economy is less efficient because it is

not operating at optimum output.” Mr Smith warned this could translate into worker demands for wage increases to maintain living standards, especially in unionised workplaces, even though companies may not be able to afford this post-COVID. “Everyone would want their income to increase, so they will be making demands for higher wages and, if those demands are met, there will be more pressure on the economy because you are taking from an economy that is already depressed, so you have a bit of a downward spiral,” he added. “On the other hand, if you don’t pay them, you have the possibility of strikes or stoppages which affects economic output. From that point of view we need to keep a close watch on what inflation is doing in the US because with a very short time lag we’ll be experiencing it.” US inflation increased by 7 percent year-over-year in December 2021, marking the fifth consecutive month it has been over 5 percent. The month-overmonth increase was 0.5 percent, with economists increasingly suggesting that inflation is not a transitory or temporary phenomenon caused by supply chain and other post-COVID woes.

Mr Smith said US inflation could also reduce travel demand and spending from The Bahamas’ major tourism market, due to the impact on disposable incomes, savings and wealth, although Mr Rolle last week suggested this impact will be more than offset by “pent-up” travel demand. As for the Federal Reserve’s anticipated interest hike, the ex-finance minister and Central Bank governor said it would likely have little to no effect on the cost of money in The Bahamas as local interest rates seemed to have been decoupled or delinked from their US equivalent during the pandemic. Bahamian rates “at one time” tended to follow their US counterparts, but have not adjusted in line with the latter’s downward movement in recent years. Mr Smith, though, said that the biggest impact from a US rate hike could be felt by the Government’s foreign debt servicing costs - especially if it has to go back to the international capital markets now. COVID, coupled with years of creditworthiness downgrades by the international rating agencies, left The Bahamas paying 8-9 percent on its last bond issues. Some 89 percent, or $4.5bn, of The Bahamas’

February Point Resort Estates in picturesque Great Exuma is seeking applications for the following positions: - Property Manager - Food & Beverage Manager - Landscaping Irrigation Technician Qualified persons are asked to send their resumes to the following email address:

klightbourne@februarypoint.com

total $5bn foreign currency debt is denominated in US dollars, and Mr Smith, who heads the Government’s debt advisory committee, was unable to say if all existing issues are fixed rate. Those that are floating rate, and linked to LIBOR or some other benchmark, would see an immediate rate increase if there is a Federal Reserve adjustment. “If rates go up because of a change in US

rates, the cost of debt servicing goes up,” Mr Smith said. “Potentially that will have a depressing effect on government services, as we have to pay more for debt and that has to come from somewhere. Obviously the cost of new money will take into account the move in interest rates. Clearly there are some serious headwinds ahead for dealing with the Budget deficit in any event.” As a result, Mr Smith said it was critical that The

Bahamas not be seen as a “hot spot” for COVID-19. “I think the impact on the economy and impact of the pandemic are hand in glove at this stage,” he added. “There’s a possible scenario that, if inflation and interest rates go up and have an adverse impact, if the pandemic stabilises through higher vaccination rates here and in the US, we could have an increase in arrivals to our main industry that could offset. We still ultimately have to pay serious attention to the pandemic and bringing under control. The one constant fear is the unknown.”

PAGE 6, Wednesday, January 19, 2022

THE TRIBUNE

COVID FOOD INITIATIVE HAD ‘HIGHEST LEVEL OF INTEGRITY’ FROM PAGE ONE was trying to build up best practices. “They proceeded to do this with the highest level of integrity, sharing and working across different organisations with different standards and mechanisms to come up with a solution to taking a limited amount of money and how to get the best out of it.” The COVID assistance initiative was structured such that while the Government provided the bulk of the funding, it was the Task Force and its members that co-ordinated the distribution via the established non-profits who, in turn, worked with affiliates and contacts on the ground in multiple communities to determine who was eligible for help and in most need. Mr Aubry backed the position taken by Michael Pintard, Opposition leader, that the then-Minnis administration would simply have created extra costs and bureaucracy and costs if

it had tried to take on this entire task by itself. It instead chose to work through established entities already operating in the food assistance space, and which had networks and contacts in the required areas. The ORG chief argued that it will “stand as an example for an effective PPP (public-private partnership)”. Turning to the controversy sparked by the vague statement on the draft audit findings, Mr Aubry told Tribune Business: “I think they themselves, the Task Force, would embrace the concept of an audit assessment and assured governance. That’s part of their credo. “This new initiative is going to learn, look at how we did this and adapt, so that it becomes more effective and can better serve ourselves in times of emergency. The hope is that this effort is being done with the intent of looking at how we can learn from it and grow the partnership

MICHAEL PINTARD between civil society and the Government so we can respond better in future, and be more effective and efficient.” The ORG chief said it was “not clear why preliminary results are being issued without the full context of what is going on and what needs to be looked at” when it came to the Government’s ongoing audit of the COVID food assistance initiative.

“It’s really important that this avoids the political rhetoric as much as possible,” he added. “An objective and non-political audit will give most information. What I have seen is a tremendous amount of information gathering and systems in place to ensure the integrity of the food programme. “There was a tremendous respect: These are public funds and need to be used

with the greatest effect by the Task Force, non-profits and volunteers. Using the money to the greatest effect will be the conclusion of that audit if it’s done in full and objectively. “Responsible governance is simply that..... These are public funds, so there should be a full accounting and understanding of what was done.” The Davis administration, though, appears to have had reservations about the COVID food assistance initiative from the moment it took office. Obie Wilchcombe, minister of social services and urban development, suggested that it was too costly, and the Government brought the initiative back under his ministry. There have also been complaints that there are no records involving the sums spent, and the initiative’s structure and scope, as well as protocols, controls and procedures, in government files.

However, Michael Pintard, the Opposition’s leader, said past Cabinet papers set-out the mandate and structure of the COVID food assistance initiative, together with costs and the participants involved. In addition, the Government would have access to the permanent secretary and accounting officer at the Ministry of Social Services, who could provide details on the flow of funds. Any “gaps”, Mr Pintard added, could be filled by the Task Force, which would have financial records and audit-ready paper trails in its files. “It is unfortunate that the Government has picked this time to cast aspersions on a programme that benefited from the input of NGOs,” he said. “The last thing we want to do is create an unnecessary furore over a situation where the Government has access to the information, and can get the information if it so desires.”

THE TRIBUNE

Wednesday, January 19, 2022, PAGE 7

DIGITAL PAYMENTS PLAYER SEES OFF SEBAS SEIZURE

FROM PAGE ONE permission to appoint Mr Galanis as interim receiver/ manager on the basis that Sun Cash had defaulted on its loan repayments. The move appears to have been sparked by the Central Bank’s rejection of Investar’s purchase, and the default was denied by Sun Cash. It was backed by Justice Winder, who said it was “accepted” that the loan

repayments were current. As a result, he ruled last year that appointing Mr Galanis to take over Sun Cash’s property and bank accounts at this time would not “be just and convenient”. Investar had secured loans advanced to Sun Cash through two debentures attached to the latter’s assets. These were issued on May 11, 2020, and May 21, 2020.

The terms permitted Investar, upon giving 30 days’ advance written notice to Sun Cash, to “require” the latter to convert its loans into a 49 percent equity stake in the money transmission services provider. This would have resulted in Mr Bastian’s investment house receiving 3,290 ordinary shares priced at $446.43 each, valuing its interest at $1.469m.

Investar sought to exercise this conversion option on May 20, 2020, just nine days after the first debenture was secured. However, the deal required approval from both the Central Bank and Securities Commission. “They [Sun Cash] say that notwithstanding earlier informal verbal indications from the Central Bank that Investar would be suitable, the Central Bank subsequently, on August 7, 2020,

SIR WILLIAM’S SON HITS BACK IN $144K DISPUTE FROM PAGE ONE William and I were really good friends for many years. We did many investments together, and I helped him out for 20 years in many, many ways”, describing the former finance minister and his wife as “fantastic people”. However, Mr Allen blasted: “His characterisation of his relationship with my father is deeply erroneous. I find it somewhat offensive he characterised his friendship with my father in that way because that is not the case. My father for decades extended all kinds of help to him and others

pursuing their personal interests... “He’s speaking as if my father owed him money. Our position is these are not outstanding loans. And these are subject to an ongoing business deal that has not been concluded. We have a very different take on it.” Mr Allen added: “I’d like to put this on record. I didn’t question my father’s friendships in his lifetime, but my father’s choice of friends was very different from mine, and Mr Myers is not a friend of mine. “He was a fixture in my father’s life seeking constant help.... He’s a guy who relied on my father, and relied on

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, KELSIE ANN FERGUSON, of Elizabeth Estate, Nassau, The Bahamas intend to change my name to KELSIE ANN SANDS. If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice. MANCHESTER CAPITAL GROUP LIMITED Reg. No. 198460 B NOTICE OF DISSOLUTION Notice is hereby given, in accordance with Section 138(4) of the International Business Companies Act of 2000, that the above-named Company commenced dissolution procedures on the 12th day of January 2022 and that Sterling (Bahamas) Limited of Suite 205A, Saffrey Square, Bank Lane & Bay Street, P.O. Box N-9934, Nassau, Bahamas has been appointed voluntary Liquidator of the Company. Notice is also hereby given that any person having a claim against the Company is required, within 14 days of the date of this Notice, to send their names, addresses and particulars of their debts or claims to Sterling (Bahamas) Limited, the Liquidator of the Company, or in default thereof they will be excluded from the benefit of any distribution made before such debts or claims are proved. Dated this 12th day of January 2022 Sterling (Bahamas) Limited Liquidator PLENTIMORE LIMITED Reg. No. 149508 B NOTICE OF DISSOLUTION Notice is hereby given, in accordance with Section 138(4) of the International Business Companies Act of 2000, that the above-named Company commenced dissolution procedures on the 18th day of January 2022 and that Sterling (Bahamas) Limited of Suite 205A, Saffrey Square, Bank Lane & Bay Street, P.O. Box N-9934, Nassau, Bahamas has been appointed voluntary Liquidator of the Company. Notice is also hereby given that any person having a claim against the Company is required, within 14 days of the date of this Notice, to send their names, addresses and particulars of their debts or claims to Sterling (Bahamas) Limited, the Liquidator of the Company, or in default thereof they will be excluded from the benefit of any distribution made before such debts or claims are proved. Dated this 18th day of January 2022 Sterling (Bahamas) Limited Liquidator

him to do things for him.” Mr Myers, in his original action, alleged he was owed $144,000 that was advanced to Sir William in small sums between September 8, 2008, and October 13, 2011, and secured via a promissory note signed in 2012. He did not contest the assertion that the $66,000 interest detailed in the promissory note breached the 20 percent cap set in the Rate of Interest Act, as the alleged loans were provided “without any agreement or otherwise as to interest”. Mr Myers added that the $66,000 was “offered by Sir William as a means of reward for his forbearance”.

The estate showed that the “pure interest rate” generated by the promissory note was 45.83 percent, while the effective annualised interest rate was 70.29 percent. This compared to the 20 percent maximum allowed under the Act. Mr Allen, though, said the dispute surrounding the $144,000 revolved around dealings involving Crab Cay, with the funds supposed to be repaid via proceeds from the island’s sale. “There was an arrangement where I and others were involved in a quieting process for a large and valuable property, Crab Cay,” he explained.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, THADDEUS EVANGELUS STRACHAN, of East Street South, Nassau, The Bahamas intend to change my name to THADDEUS EVANGELUS STRACHAN-COSFORD. If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The public is hereby advised that I, BERENTHIA YOLANDE SMITH of P.O. Box SB-52409, No. 3 Gerald’s Road, Blue Hill Heights, New Providence, Bahamas, intend to change my name to BERENTHIA YOLANDE SMITH-GILBERT. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of the publication of this notice.

denied the application on policy grounds,” Justice Winder wrote in his June 2021 judgment. “The Central Bank not only denied the application for Investar’s equity conversion, but imposed a deadline by which Sun Cash must secure a new shareholding or cessation of its business.” Charles Littrell, the Central Bank’s inspector of banks and trust companies, served notice of the Investar

denial on January 25, 2021. Just one month later, on February 24, Investar served notice on Sun Cash’s parent that it was in default under the debenture and, two days after that, sought Supreme Court approval to appoint Mr Galanis as interim receiver/manager. Mr Malcolm, who at one time was chair of Playtech Systems, the parent company for Mr Bastian’s Island Luck web shop chain, replied: “Sun Cash is not insolvent and is meeting all payment obligations as they become due.”

“He [Mr Myers] was paying into it. It was one of those sums going, with the others, to invest in Crab Cay. My father seems to have wrongly acknowledged this money as a debt, not an investment. My father signed this promissory note as a loan. I tried to assist him when he was under pressure and very ill. He had been suffering from cancer for years. “When called upon, the court, if they look through the records of all the e-mails and correspondence, these

were not loans. And, in so far as they have to be paid back, it would be from the proceeds of Crab Cay. If you look at the defence, it is termed as an eventuality which has not transpired. Crab Cay has not closed and, so far, any obligation has not come to fruition.” Mr Allen said the situation involving Mr Moncur and his aunts has stalled the Crab Cay effort. They have not done anything wrong and are not involved in the dispute with Mr Myers.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, CLINTON BERNARD DORSETT, of #4 Anguilla Road, P.O. Box F-43838 Freeport, Bahamas intend to change my name to CLINTON BERNARD DORSETT GRAY. If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

NOTICE

NOTICE is hereby given that CONSTANTINO DELGADO SANCHEZ of Holiday Drive, South Beach, New Providence, The 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 12th day of January, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

THE TRIBUNE

Wednesday, January 19, 2022, PAGE 9

GOV’TS ‘STRONG STANCE’ LIMITED GB POWER HIKE FROM PAGE THREE

“GB Power, in their projected five-year plan has committed to [getting] 15 percent of its generation from renewable sources by 2026, and proposes to invest over $80m in capital improvements, which include a 5MW (Mega Watt) solar plant and battery storage, as well as other improvements in generation and transmission and distribution.” The Free National Movement (FNM) last night branded approval of Grand Bahama Power Company’s base rate increase

as “counter productive” by making it more difficult to attract investment. The Opposition, which holds a majority of three out of five Grand Bahama seats in the House of Assembly, blasted the go-ahead given by the Grand Bahama Port Authority (GBPA), the utility’s regulator, as “inconsiderate” given that many businesses and residents were still struggling to recover from the devastation inflicted by Hurricane Dorian and COVID-19. The FNM added: “Grand Bahama’s economy continues to struggle through recovery which requires

new and increased investment. One of the largest impediments to investment has been the cost of electricity on Grand Bahama. This decision is counter-productive and will make it even more difficult to attract and expand investment. “While we are sympathetic to the economic plight of GB Power, we are even more mindful of the struggling residents and businesses fighting their own economic challenges and this increase will only be another blow to the island’s recovery.”

GRAND BAHAMA POWER COMPANY

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 75° F/24° C Low: 54° F/12° C

TAMPA

uV inDex toDay

TONIGHT

THURSDAY

FRIDAY

SATURDAY

SUNDAY

Mostly sunny and pleasant

Mainly clear

Mostly sunny and delightful

Mostly sunny and nice

A t‑storm around in the afternoon

Clouds and sun, t‑storms possible

High: 77°

Low: 67°

High: 80° Low: 68°

High: 79° Low: 70°

High: 79° Low: 65°

High: 78° Low: 64°

AccuWeather RealFeel

77° F

66° F

83°-70° F

85°-70° F

84°-65° F

82°-64° F

High: 73° F/23° C Low: 55° F/13° C

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: 74° F/23° C Low: 69° F/21° C

7‑14 knots

High: 75° F/24° C Low: 61° F/16° C

7‑14 knots

FT. LAUDERDALE

FREEPORT

High: 75° F/24° C Low: 67° F/19° C

N E S

WEST PALM BEACH

| Go to AccuWeather.com

High: 75° F/24° C Low: 67° F/19° C

MIAMI

High: 75° F/24° C Low: 66° F/19° C

6‑12 knots

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 72° F/22° C Low .................................................... 66° F/19° C Normal high ....................................... 77° F/25° C Normal low ........................................ 65° F/18° C Last year’s high ................................. 75° F/24° C Last year’s low ................................... 59° F/15° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ................................................. 3.28” Normal year to date ..................................... 0.80”

ELEUTHERA

NASSAU

High: 77° F/25° C Low: 67° F/19° C

High: 76° F/24° C Low: 71° F/22° C

KEY WEST

High: 73° F/23° C Low: 68° F/20° C

tiDes For nassau High

Ht.(ft.)

Low

Ht.(ft.)

Today

8:37 a.m. 8:54 p.m.

2.8 2.2

2:15 a.m. ‑0.2 3:06 p.m. 0.0

Thursday

9:14 a.m. 9:34 p.m.

2.8 2.2

2:55 a.m. ‑0.1 3:42 p.m. ‑0.1

Friday

9:52 a.m. 10:16 p.m.

2.8 2.3

3:36 a.m. 0.0 4:18 p.m. ‑0.1

Saturday

10:31 a.m. 11:01 p.m.

2.7 2.4

4:20 a.m. 0.0 4:57 p.m. ‑0.1

Sunday

11:14 a.m. 11:50 p.m.

2.5 2.5

5:08 a.m. 0.1 5:38 p.m. ‑0.1

Monday

12:02 p.m. ‑‑‑‑‑

2.4 ‑‑‑‑‑

6:03 a.m. 0.2 6:24 p.m. ‑0.2

Tuesday

12:45 a.m. 12:56 p.m.

2.5 2.2

7:04 a.m. 0.2 7:17 p.m. ‑0.2

sun anD moon Sunrise Sunset

6:56 a.m. Moonrise 5:45 p.m. Moonset

7:24 p.m. 8:18 a.m.

Last

New

First

Full

Jan. 25

Feb. 1

Feb. 8

Feb. 16

CAT ISLAND

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

High: 77° F/25° C Low: 73° F/23° C

7‑14 knots

ANDROS

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

SAN SALVADOR

GREAT EXUMA

High: 77° F/25° C Low: 73° F/23° C

High: 77° F/25° C Low: 75° F/24° C

High: 76° F/24° C Low: 69° F/21° C

LONG ISLAND

tracking map

High: 78° F/26° C Low: 74° F/23° C

8‑16 knots

MAYAGUANA High: 79° F/26° C Low: 74° F/23° C

Shown is today’s weather. Temperatures

CROOKED ISLAND / ACKLINS

are today’s highs and tonight’s lows.

RAGGED ISLAND High: 79° F/26° C Low: 76° F/24° C

High: 79° F/26° C Low: 75° F/24° C

GREAT INAGUA High: 81° F/27° C Low: 75° F/24° C

10‑20 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 E at 7‑14 Knots SSE at 6‑12 Knots NE at 7‑14 Knots E at 6‑12 Knots ENE at 8‑16 Knots E at 7‑14 Knots ENE at 10‑20 Knots E at 8‑16 Knots E at 7‑14 Knots E at 7‑14 Knots E at 6‑12 Knots SE at 4‑8 Knots NE at 7‑14 Knots E at 7‑14 Knots NE at 10‑20 Knots E at 8‑16 Knots ENE at 10‑20 Knots E at 8‑16 Knots ENE at 10‑20 Knots E at 8‑16 Knots E at 6‑12 Knots E at 6‑12 Knots NE at 10‑20 Knots E at 8‑16 Knots E at 8‑16 Knots E at 7‑14 Knots

WAVES 2‑4 Feet 1‑3 Feet 1‑2 Feet 1‑2 Feet 3‑5 Feet 3‑6 Feet 3‑6 Feet 3‑6 Feet 2‑4 Feet 3‑5 Feet 1‑3 Feet 1‑2 Feet 1‑2 Feet 1‑2 Feet 3‑5 Feet 3‑5 Feet 2‑4 Feet 3‑5 Feet 4‑8 Feet 4‑8 Feet 1‑2 Feet 1‑2 Feet 3‑5 Feet 3‑5 Feet 1‑3 Feet 1‑3 Feet

VISIBILITY 10 Miles 8 Miles 10 Miles 8 Miles 10 Miles 6 Miles 7 Miles 10 Miles 10 Miles 7 Miles 10 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 10 Miles 9 Miles 7 Miles 9 Miles 10 Miles 10 Miles 8 Miles 10 Miles 10 Miles 9 Miles

WATER TEMPS. 77° F 77° F 74° F 71° F 79° F 79° F 80° F 79° F 77° F 77° F 74° F 74° F 77° F 78° F 76° F 76° F 80° F 80° F 78° F 77° F 77° F 77° F 79° F 79° F 78° F 78° F