11202020 BUSINESS

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FRIDAY, NOVEMBER 20, 2020

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BPL’s Shell MoU hits its expiry date

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

B

AHAMAS Power & Light’s (BPL) chairman yesterday confirmed a key agreement with Shell for New Providence’s new power plant has expired amid suggestions the government may approach “other parties”.

Dr Donovan Moxey argued that not too much should be read into the two year-old Memorandum of Understanding’s (MoU) lapse as the state-owned utility and Shell North America are “continuing our dialogue

• Talks continue as govt eyes options • Unhappy at power price, time taken • BPL targets January for $535m bond

DR DONOVAN MOXEY

to negotiate the best possible deal for the Bahamian people”.

However, multiple highplaced sources speaking to Tribune Business under condition of anonymity because they were not authorised to talk publicly, told this newspaper the government feels the talks with Shell are dragging out too long and is mulling whether to approach other energy providers.

One contact told this newspaper that BPL was seeking to prioritise its $535m Rate Reduction Bond (RRB) refinancing because the agreement with Shell had yet to be concluded and approved by the Minnis Cabinet.

“We were told the reason the bond offering might go ahead is because the Shell transaction is taking too

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No full cruise rebound forecast until late 2022

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

NASSAU Cruise Port’s controlling owner has warned industry stakeholders that full recovery may be two years away with 2019 passenger numbers not returning until the 2022 second half.

Mehmet Kutman, Global Ports Holding’s chairman, told analysts during a conference call to unveil the company’s 2020 third quarter results that February 2021 will likely be the earliest date when cruise ships return to The Bahamas and Nassau.

Suggesting that it will take several months for the cruise industry to understand and implement the health regulations demanded by the US-based Centres for Disease Control and Prevention (CDC), Mr Kutman

• Nassau port developer: February 2021 earliest return • $45.5m invested in Prince George Wharf to-date • Global Ports hopes construction spend under $250m estimated that April-May 2021 will be the latest date for a resumption of sailing - albeit with less frequent vessel calls and lower passenger occupancies initially.

Global Ports executives also revealed that some $45.5m to-date has been invested in Nassau Cruise Port’s transformation, with the company also hoping to bring in redevelopment costs below the initially-projected $250m construction budget.

The figures were revealed as the cruise port operator admitted that the outlook for 2021 and year-end 2020 will be “more challenging than we had hoped for a

‘Not reassured in slightest’ by oil drill ship’s watchdog

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net ENVIRONMENTAL activists say they are “not reassured in the slightest” by the promised presence of the government’s watchdogs on Bahamas Petroleum Company’s drilling ship.

Casuarina McKinneyLambert, the Bahamas Reef Environment Educational Foundation (BREEF) executive director, told Tribune Business in messaged replies to this newspaper’s questions that she was taking little comfort that representatives from Black & Veatch, the government consultants who assessed BPC’s environmental submissions, will be overseeing the 45-60 day drilling.

“It does not reassure us in the slightest that the government will have environmental consultants on the drill ship,” she said. “We are painfully aware that all offshore drilling pollutes and there is no such thing as safe oil exploration. When you drill, you spill.”

BPC, in announcing that the Stena IceMAX drill ship is poised to leave the Canary Islands to head for The Bahamas aid of the December 15 drilling start date, said: “BPC has formally notified the Bahamian Department of Environmental Protection & Planning (DEPP) as to the precise well location, as well as the specific details

and technical specifications in respect of the Stena IceMAX drill ship, and has obtained the DEPP’s consent to same.

“BPC is currently working with the Government of The Bahamas’ appointed third-party expert adviser, international environmental consultants Black & Veatch, on a number of technical items relating to the Perseverance One drilling programme.

“As agreed with the Government of The Bahamas, one or more Black & Veatch experts will be stationed onboard the Stena IceMAX during drilling operations, and will oversee the entire drilling programme, with a specific mandate to observe and report on specific tasks, activities and operations, including observing the baseline seafloor survey and testing of drilling fluids to ensure compliance with mandated safety requirements; oversight of environmental compliance activities during drilling activities and thereafter during decommissioning and abandonment activities; and monitoring drilling practices, procedures and activities to assure compliance with the Environmental Impact Assessment (EIA) and Environmental Management Plan (EMP).”

Ms McKinney-Lambert, meanwhile, argued that the

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few months ago”, due to the surge in COVID-19 cases in both the US and Europe plus the longer-than-anticipated wait for the industry to put to sea yet again.

“I do believe the USbased cruise operators will start as early as February, and as late as probably April or May,” Mr Kutman said, “which will give the cruise lines time to implement, including the trial runs, all the framework of the CDC...

“The day they start sailing again is the day we go back to business like 2019.

My personal estimate is that we will see 2019 numbers as early as the second half of 2022.”

Mr Kutman’s forecast is unlikely to deliver much Christmas cheer to Bay Street merchants, straw vendors, taxi drivers, restaurants, hair braiders, tour operators, excursion providers and others reliant on the cruise ship industry for their livelihoods, as it means the wait for the sector’s return will drag on for several months into 2021.

And the rebound to normal business levels may take even longer if the Global Ports Holding chief is correct. While cruise ship passengers are the Bahamian tourism industry’s

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‘Grey clouds’ must lift to get Cable dividends

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net CABLE Bahamas’ top executive says dividend payments to ordinary shareholders will only resume after “some of the grey clouds” presently hovering over the Bahamian economy disappear.

Franklyn Butler, the BISX-listed communications provider’s president, told Tribune Business in a recent interview that while a capital return will “not be too far away” once the COVID-19 pandemic fades the company had to be prudent in conserving resources amid ongoing uncertainty locally and internationally.

“Let’s put it this way,” he replied. “We are trying to manage everything around COVID-19. It has been an unprecedented time around the world and, from our perspective, we are trying to manage the risk that exists today globally and with telecommunications operators.

“There’s just so much uncertainty, and when you think about every time they lockdown, it has a significant impact on our ability to grow sales and revenues....

As soon as we feel some of the grey clouds subside over The Bahamas and global economy as it relates to COVID-19 our shareholders should anticipate some relief is not too far away. We have to be prudent given where the local economy is.”

Mr Butler spoke out just before the release of Cable Bahamas’ annual report for the year to June 30, 2020, which revealed that it has agreed to provide a $70m loan to its Aliv mobile affiliate to restructure its finances and pay off existing debt.

“Cable Bahamas agreed to provide a secured $70m long-term loan facility that enables the Huawei

FRANKLYN BUTLER network vendor leasing finance to be fully repaid early, repay outstanding deferred payments for using towers, transmission and other services to Cable Bahamas, and provide Aliv with cash reserves to fully fund the long-term business plan,” the annual report said.

“Aliv’s increasing revenues and operating cash, and reduced capital investment requirements (net of insurance proceeds relating to Hurricane Dorian and sale of 21 tower sites to Cable Bahamas), led to Aliv’s lowest annual cash requirement of $4.2m in financial year 2020 funded from cash on hand.

“This was achieved with the support of Cable Bahamas who agreed to convert $22m of deferred payments due under its master service agreements with Aliv to a long-term secured debt facility in November 2020.

Aliv has invested $52.9m over four years in acquiring and retaining its customer base through the provision of device subsidies, sales commissions and other costs.”

Cable Bahamas holds a 47.25 percent equity interest in Aliv, together with Board and management control. Despite suffering a 15 percent year-over-year revenue decline during the three months to end-June 2020 due to the COVID-19

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PAGE 2, Friday, November 20, 2020

THE TRIBUNE

Signs that it is time to move on

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HESE are quite difficult times in the job market.

This is certainly not the ideal time for anyone to up and leave their jobs without a secure option, or a passion and plan for entrepreneurship.

Sometimes, though, the bad week turns into a month or year, sending the signal to the progressive employee that it may be time to transition to another workplace or sector altogether.

This column today, then, is designed to provide a list of indicators that might signal it is time to move on.

1. You’re bored all the time If you are no longer challenged in your position, and

have tried communicating with your boss to no avail, this may be a sign that it is time to leave. Although boredom is a very standard feeling, researchers believe prolonged feelings of boredom while at work are a warning sign that you are not doing what you want to be doing and are searching for more meaning. If you are spending most of your work day on the Internet shopping or playing games, or if you are checking the time frequently at work, that might be an indicator.

2. Your skills are not being tapped We all know that sometimes you have to take whatever you can get, stick it out for a while and,

hopefully, prove to your boss that you are capable of managing more responsibilities. But if you have been doing this for a while, and you are still stuck in a position that does not allow you to utilise your skills, then it is time to start considering other options. When you know you have more to offer the world, do not second guess yourself. Get ready for change.

3. Nothing you do is ever enough Even though you are the first person in the office, and the last one out, you are constantly checking your work e-mail. You are far exceeding all your colleagues’ workload combined. Sometimes you get

stuck with a boss that still, believe it or not, expects more from you. If your boss relentlessly pushes for more no matter what, there is likely no end to the madness in sight, and it may be time to go somewhere that can appreciate all that you do, together with some boundaries.

4. Even little things feel overwhelming The physical, emotional, or mental exhaustion from work can manifest itself in a number of ways. A major sign of job burnout is that you are no longer able to handle even little setbacks.

Stress at work is inevitable, but every moment should not feel so completely overwhelming that you just

cannot deal with it. If you get upset about every little thing that is happening at work, it may be a sign it is time to move on.

5. You are not growing It is easy to get stuck in a job and, if you love what you are doing, getting stuck can be comfortable.

However, it is important to remember that every job should enhance your skills and add to your value as an employee. If you are not learning anything new, and are simply doing the same thing every day, it is time to look elsewhere.

• NB: Ian R Ferguson is a talent management and organisational development consultant, having completed graduate studies

IAN FERGUSON BY

with regional and international universities. He has served organsations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at tcconsultants@coralwave.com.

ACTIVISTS SLAM BPC DIRECTOR AS ‘DOWNRIGHT WRONG’ ON OIL

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net ENVIRONMENTAL activists yesterday said a Bahamas Petroleum Company (BPC) director’s criticism of legal efforts to halt its oil exploration plans as “downright wrong” and “a false equivalence”.

Joseph Darville, chairman of Save The Bays, said it was “difficult to know where to begin” in responding to former Central Bank governor and minister of state for finance, James Smith, because “there are so many things wrong” with his comments.

“I will not say he is being disingenuous or intentionally misleading, but as a director of a company proposing to undertake the extremely dangerous action of drilling into our sea-floor in search of oil, he does seem to be shockingly uninformed,” Mr Darville added.

He hit out after Mr Smith told Tribune Business that the threat of legal action

JAMES SMITH

JOSEPH DARVILLE

by the Our Islands, Our Future coalition and its allies to block BPC’s proposal “doesn’t sit well with me”.

The former finance minister argued that with tourism “collapsing, and the economy tanking” as a result of COVID-19, there was “even more reason” to allow BPC to proceed with its exploratory well drilling and determine whether commercial quantities of oil exist that could benefit the Bahamian people.

Saying that he nevertheless “understood” environmental concerns

over BPC’s plans, the exCentral Bank governor and finance minister also questioned why the threatened Judicial Review and injunction bid had singled out the explorer rather than all oil-related activities in The Bahamas.

Pointing out that tankers were moving through Bahamian waters every day, and sometimes offloading their cargos at the Buckeye (former BORCO) and South Riding Point terminals in Grand Bahama, as well as at Bahamas Power & Light’s (BPL) facilities, Mr Smith argued that

these activities presented a greater risk of a spill than BPC’s exploratory, nonproduction Perseverance One well.

Mr Darville, though, countered: “Smith uses the trick of choice for BPC directors nowadays: Why complain about drilling when there are other oilrelated activities taking place in the country?

“While Save The Bays certainly opposes the transportation of petrochemicals through our waters, the argument that since we already face some level of danger, we might as well go ahead and increase it exponentially, is ridiculous on the face of it. Furthermore, Smith is drawing a false equivalence, comparing apples and oranges, as the level of danger in what BPC is proposing utterly dwarfs any tanker accident imaginable.”

Mr Darville added: “The 2010 Deepwater Horizon disaster spewed around 200m gallons of oil into the Gulf of Mexico. The vast majority of tankers

in operation today carry between 15m and 25m gallons at full capacity.

“This means that, at minimum, eight to thirteen of these massive vessels would have to suffer a catastrophic accident and spew their entire contents into the sea – all at the same time – in order to replicate the impact of a major spill from an offshore drill site.”

Mr Darville also said: “Smith’s suggestion that these tankers present a greater spill risk is misleading in the extreme. It is just downright wrong.

The Deepwater Horizon drilling disaster led to a massive stretch of ocean (15,300 square miles) – an area nearly three times’ the size of the entire Bahamas (5,358 square miles) – being covered by toxic chemical sludge. The worst possible tanker disaster would not even come close. All spills are very bad, but not all spills are equal.

“Perhaps most frightening is Smith’s suggestion that we shouldn’t worry about the drill project, as

it is nothing more than an exploratory well. Can this BPC director really not be aware that the Deepwater Horizon disaster was also ‘just’ an exploratory well? Can he not know that exploratory wells are among the most dangerous of all the petrochemical disasters waiting to happen?

“The truth is that there is no such thing as safe oil drilling, and we have too much to lose in this country to bet everything on a roll of the dice. Our economy is totally dependent upon industries derived from the beauty and abundance of our fragile marine environment,” Mr Darville added.

“Nothing about the BPC deal suggests it will even come close to providing us with an alternative; certainly not with oil prices crashing and the world moving further away from fossil fuels by the day. Certainly not in a country that is among the most vulnerable on the planet to the ravages of climate change, which the oil industry is largely responsible for.”

THE TRIBUNE

Friday, November 20, 2020, PAGE 3

ABACO RESORTS: ‘WE MUST KNOW WHAT WE’RE FACING’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

ABACO resorts yesterday called for more clarity around the COVID19 travel protocols as they seek to rebound from the combined devastation of Hurricane Dorian and the global pandemic.

Brent Ingraham, the Abaco Beach Resort and Marina’s director of sales and marketing, told Tribune Business the property and its guests simply “want to know what we’re up against” in terms of restrictions and regulations after overcoming concerns surrounding the now-eliminated 14-day quarantine.

“The resort has been completely renovated or refurbished,” he said.

“We’ve been open now for about the past four or five months, and we have refurbished all of our guest rooms and added a new restaurant, so we have a total of two restaurants on the property now. We’ve also built a new resort lobby, which we refer to as the Great Room, which is our welcoming centre.

“We have enhanced the landscaping throughout the property. We rebuilt the entire marina of about 200 slips from the ground up that was totally destroyed, and that was complete almost three months ago.”

As to the impact of COVID-19 restrictions, Mr Ingraham said: “I think like every other country or island, the opening

and closing has certainly affected the business.

My interaction with the client on this side, as I’m in Florida so I’m closer to the customers, and get a better feel and barometer of what’s happening here in the market: Persons are eager to come to The Bahamas; they’ve shown that.

“I was recently at the boat show. The main question they had was simply when is the country going to open and the elimination of the quarantine? I think we’ve gotten past that.

But hopefully, as we have a marina, that business I feel is the one that is going to come back the quickest versus anything else because they can come with their own free will. That business for us is going to be the one that returns the quickest.

“Folks just want to know that there’s some there’s some normalcy. If they know what their expectations are, they’re going to come. I think if we’re able to maintain control as it relates to the COVID19 situation, ourselves in the Bahamas, I think that will be good. We just want to know what we’re up against. That’s the bottom line.”

Robert Ford, general manager of Delphi Club, said: “For Abaco itself, Marsh Harbour is certainly getting better. There’s a long way to go still, obviously. But things are definitely getting better.

“We were very fortunate at Delphi. We are about 25

miles south of Marsh Harbour, and the highest winds we got were about 80 miles an hour. We had a couple of thousand dollars’ worth of damage, as opposed to Marsh Harbour, which obviously got wiped out.”

Mr Ford said he could have opened the resort a week after Dorian, but the infrastructure damage in Marsh Harbour was too great. He added: “The one thing that still hurts us a little bit is there are no lights at the airport. So you can’t get flights in late at night or out late at night.

“Some of our clients like to fish the day and then fly home at night, you know?

But I mean, again, in the scheme of what’s happened to Marsh Harbour, that’s a very minor problem. That’s what you call first world problems.”

Mr Ford said Delphi Club has been open since November 1. He added: “We actually had 12 people about two to three nights ago, which is the busiest we’ve been since February. We’ve basically been totally muffled since the COVID-19 lockdowns because nobody can come in and out of the country.

“But we’ve got all the COVID protocols in place.

If you go on our website, you can see that we’ve done all our COVID protocols and are advising people on how to get there. We’ve even got one of our staff now trained by a local GP (general practitioner) to do the testing after five days.

We were kind of nervous

To advertise in The Tribune, contact 502-2394 NOTICE NOTICE is hereby given that NORADIEU GEORGES of, Cox’s Way N-3756 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 20th day of Novemver 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that AARON WANYA ALDAJUSTE of Ridgeland Park West, 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 20th day of Novemver 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

about how that was going to work, but we’ve now got somebody at the lodge trained to do that.”

Shane Krige, the Abaco Club on Winding Bay’s general manager, said: “One of the things people may not have realised is we did not close. We’ve always been open. After Dorian we were closed for a very short period of time and were back open in October. We were very fortunate that we did not bear the brunt of Dorian.

“The property did take some damage, but we were able to get the club back open. We’re a private residential community. During the early stages of COVID we had members that stayed with us for two to three months. For us we’ve

been just plugging forward and we’ve renovated a lot of the areas. Our gym is just going to be renovated and will be done in December.”

Looking forward to the Thanksgiving and Christmas holidays, Mr Krige said: “Christmas is looking great and we expect a full house. We sold out on the homes that we have available for renting to members, and members that do have homes are all coming down.

“Thanksgiving is looking great. So, for us, we’re just moving forward. Very happy to say that our ownership group continues to invest money in the property to make sure that it is at the top, and we are being extremely safe with COVID-19, and the protocols and the

travel requirements.

“We spend a lot of time with anyone that’s coming, with members that are coming, to walk them through the steps of what you need to do and the requirements from a government standpoint. We’re just trying to make it easier to travel and get people here, and it’s working.”

However, Dr Larry Carroll, owner/operator of the Sandpiper Inn, said: “I have decided not to reopen until after the US presidential swearing-in in January. The overall problem remains uncertainty and continually changing policy. Nothing is fixed and there is potential for a change at any moment. I cannot afford to run a business with such uncertainty day to-day.”

PAGE 4, Friday, November 20, 2020

Fisheries to ‘thrive for generations’ due to Bill

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A MAJOR fisheries group yesterday threw its support behind the recently-tabled Fisheries Bill 2020, hailing it as “comprehensive” and for bringing a “fair and balanced approach” to the industry.

The National Fisheries Association (NFA), in a statement sent to Tribune Business, said it was “proud to endorse the Fisheries Bill 2020”. It added: “We support the amendments to the Immigration Act and the Defence Act needed to bring the provisions of the Bill into full effect. We support minister Michael Pintard, and could not commend him more highly for his determination, honesty and tenacity in seeing this Bill to Parliament.

“We endorse this Bill

because it represents the will of the majority of law-abiding Bahamian fishermen. It is comprehensive, well thought-out and was drafted in consultation with experienced commercial fishermen.

Our members have been integral to the drafting of the legislation, and some of our senior members have dedicated themselves to extensive hours of meetings and drafting exercises.”

“The Bill represents a fair and balanced approach to fisheries,” the Association added. “There is a high prioritisation of sustainability, accountability, data collection, scientific approaches to fisheries management and, most importantly, complete Bahamian ownership of the commercial fisheries sector.

“The advocacy we bring is about putting Bahamians

THE TRIBUNE first. This Bill puts Bahamians first, as the stewards and managers of the fisheries sector. This Bill protects vulnerable species from exploitation, and emphasises science in fisheries decisions and policies. This Bill enhances the rule of law in fisheries, and makes it clear that violations will not be tolerated.”

Describing the Bill as “30 years in the making”, the Association added: “The NFA wants to thank every fisherman - active, retired and deceased - that set aside differences and came together at the table to advance the future of our country and our industry.

“To the fisheries advocates that fought tooth and nail for decades despite painful setbacks, devastating hurricanes and depleting fisheries resources, your sacrifices, your courage and your dedication will not be forgotten. It is with optimism that we will see the Bahamian fishermen thrive for generations to come.”

Scotiabank in branch closure over COVID SCOTIABANK Bahamas yesterday announced the temporary closure of its Nicholl’s Town branch in Andros following the confirmation of a COVID-19 case among its staff.

The branch is tentatively set to re-open this coming Monday while affected employees complete the mandatory 14-day selfisolation and quarantine period.

Roger Archer, Scotiabank (Bahamas) managing director, said the institution continues to prioritise the health and safety of its customers and employees.

In the interim, clients will

be routed to the bank’s digital and electronic banking channels and customer care mailbox.

“While this temporary closure is necessary, our support team remains committed to providing banking services to our customers attached to the Nicholl’s Town branch,” Mr Archer said.

Scotiabank’s on-site automated teller machine (ATM) will also be available for basic account services and transactions, including balance checks, withdrawals, fund transfers and other services.

ATM deposits and night

depository access will be restricted for the duration of the branch closure.

“We continue to assess the situation, and will be working closely with our support agencies during the period to maintain basic services at our ATMs. All customers can also continue to use their Scotia debit or credit cards to make purchases at stores and business places using point of sale machines,” Mr Archer said.

Andros is one of the islands where Scotiabank is planning to close its branch operations and exit over the next four months.

BPL’s Shell MoU hits its expiry date FROM PAGE ONE long, and the government is speaking to other parties,” they added. Other sources confirmed that the government was unhappy with the price that the new Shellowned power plant will charge for selling power to BPL, believing it too expensive, although the proposed terms were not revealed.

“The MoU has expired,” one contact confirmed. “I suspect that the government will speak to other parties that can offer the best possible deal for The Bahamas.” Desmond Bannister, minister of works who has responsibility for BPL, declined to comment when contacted although he did not refute any of this when Tribune Business put it to him.

The minister cited the sensitivities of the Shell negotiations as the reason for not commenting, while a Shell North American spokesperson also declined to speak because of “confidentiality” clauses associated with then MoU. However, Dr Moxey said it was inaccurate to say that talks with Shell North America have become bogged down or stalled, adding that he was unaware of the government approaching other energy providers and interested parties despite being involved in the negotiations at a high level.

“The MoU has expired,” he told Tribune Business.

“But Shell and BPL are continuing our dialogue to

negotiate the best possible solution for the Bahamian people. The MoU set out the framework for the deal to be negotiated and the time for when the deal is to be done.”

That document, which set out the road map for the talks, was signed in November 2018. “We’ve been at this for two years, and have made substantial progress,” Dr Moxey added. “It’s not one of those things where we’ve moved forward, made substantial progress and the date came and went, and we stopped working. We’re still in negotiations and discussions with Shell.”

Shell, though, has increasingly betrayed its eagerness to seal the deal with BPL in recent months by going public on several occasions.

Gerard Van-Ginkel, the multinational energy giant’s project director, told Tribune Business last month that “a degree of urgency” is required to close the deal for New Providence’s new multi-million dollar power plant.

As negotiations drag out, it is Bahamian households, businesses and the wider economy that become caught in the middle, with the objective of lower-cost, more reliable and cleaner energy pushed further out at a time when all New Providence residents need all the savings they can get amid the devastation inflicted by the COVID-19 pandemic.

The key terms will be the 20-25 year power purchase agreement (PPA), setting out the price at which BPL

will buy electricity from Shell’s new power plant, and the asset purchase agreement detailing the price and mechanism by which the energy giant will acquire “Station A” and “Station D” at Clifton Pier from the state-owned energy monopoly.

The former station houses the 135MW of new generation capacity that BPL acquired in 2019, while the latter - which will be home to the remaining 90MW - has yet to be constructed. Mr Van-Ginkel said the price at which BPL will buy electricity, and the purchase price for the assets, have yet to be determined although the latter will be for “fair market value”.

Separate and apart from the power plant itself, Shell will be responsible for constructing the nearby liquefied natural gas (LNG) facilities that will supply the power plant with what is intended to be its main fuel source.

The second parallel process in efforts to transform BPL and the energy sector is the utility’s planned $535m rate reduction bond financing, which Dr Moxey said it aims to place with a mixture of Bahamian, international and Caribbean investors early in the 2021 New Year.

“We are targeting a timeline of January next year,” he told Tribune Business.

“We were pushing for the end of this year, but recognise that is not going to happen. We’ve developed a plan to move things forward and to finally get that bond issued in January next year. There are a number of things coming that will open the gate.”

Key will be changes to the law underpinnning the RRB to make the bonds more “investor friendly” and protect their rights, as well as “giving us more options when going to market”. Dr Moxey said the draft reforms were completed and now being reviewed by the Attorney General’s Office before being taken to Cabinet and then Parliament.

The BPL chairman also confirmed that Citibank and CIBC First Caribbean will likely act as “joint book runners” and placement agents in finding investors to purchase the bonds, adding that the latter’s expertise in private placements will likely be more suited to the issue’s needs.

Asked whether BPL had obtained a credit rating for the bond issue, as its plan originally called for, Dr Moxey said the utility and its advisers are aiming to structure it as “a structured finance deal so it can stand on its own” and not be linked to The Bahamas’ sovereign debt and higher interest rate being paid on that.

Bond repayments will be financed by BPL’s residential and business consumers via a new line item, which was initially equivalent to 15 percent of their current consumption, which will be added to their bills.

The final charge, though, will depend on the interest rate BPL is able to obtain from bond investors. The utility has said electricity cost savings that will result from the upgrades financed by the bonds will offset the extra charge and result in Bahamians paying the same price - or slightly less - for their energy.

To advertise in The Tribune, contact 502-2394

THE TRIBUNE

Friday, November 20, 2020, PAGE 5

To advertise in The Tribune, contact 502-2394 CABLE BAHAMAS HEADQUARTERS

‘Grey clouds’ must lift to get Cable dividends FROM PAGE ONE lockdown and associated restrictions, the mobile operator had managed to increase its network capacity by 35 percent to cope with the rise in remote working.

“During April, May and until June 12 in that initial lock-down phase, for 35 percent of the available days our Aliv agent sales were closed or only available to essential workers,” Cable Bahamas’ annual report said of its mobile affiliate.

“Revenues have now recovered to pre-COVID19 levels with the exception of roaming revenues, and the subscriber base has recovered. Despite all of the challenges in financial year 2020, Aliv grew its subscriber base by 12 percent to 169,882, increased its annual revenues by 30 percent to $76.8m, delivered positive EBITDA (earnings before interest, taxation, depreciation, and amortisation) and contributed $8M EBITDA to Cable Bahamas group results.”

Total capital investment in rolling out Aliv’s network over its four-year history, including the initial $62.5m licence fee, was pegged at $62.5m. “ “Aliv has subsequently invested $98m in network

infrastructure rolling-out its 4.5G LTE and 3G network to 246 sites in all of the populated islands of The Bahamas, locating its mobile radio network equipment at 145 sites owned by Cable Bahamas and 79 sites owned by its competitor,” the annual report added.

“Following the conclusion of the initial roll-out and system build, in financial year 2020 the $5.9m capital investment was focused on network capacity expansion and software enhancements and upgrades to develop new products.”

Elsewhere, Mr Butler told shareholders that digital payments for Cable Bahamas, as a percentage of the total, had risen from 25 percent pre-pandemic to 75 percent as at end-June 2020.

“It became apparent to us that collection of payments would be a critical factor in our company’s continued strong financial performance,” Cable Bahamas said. “Accordingly, we implemented a number of items including an increase in the options for bill payment, ‘smart’ payment collection campaigns driven by big data and analytics, a laser focus on daily payments, a new battery of metrics to provide insight into payment trends/ risk and quickly pivot as required and strengthened our payment collections team.

“The impact of these efforts has increased payments received by customers by almost 33 percent (May through August 2020 versus March and April 2020). Consequently, our cash position is significantly improved.”

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, GIVENCHY DAVIS, of Poppy Avenue, #3 Garden Hills, CB-13291 Nassau, Bahamas intend to change my name to GIVENCHY LOCKISHIA AMANDA JOHNSON. 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.

PAGE 8, Friday, November 20, 2020

THE TRIBUNE

To advertise in The Tribune, contact 502-2394

‘Not reassured in slightest’ by oil drill ship’s watchdog FROM PAGE ONE Our Islands, Our Future coalition, of which BREEF is a prominent member, had not left its threatened legal action to halt BPC’s plans too late. “We do not feel that it is too late. Far from it,” she asserted.

“We feel that there were certain fundamental flaws

in the process, including a lack of proper consultation at various stages, which means that BPC’s approvals need to be revisited.

Its EIA (Environmental Impact Assessment) is deficient and also needs to be revisited. It is not us who are late; it is BPC which is moving prematurely to drill.”

Rashema Ingraham, executive director of Waterkeeper Bahamas, another Our Islands, Our Future member, added: “We believe the process was fundamentally flawed. We do not think those approvals were granted correctly.

Certainly they were granted in the absence of proper consultation.”

LEGAL NOTICE

NOTICE SARTA INVESTMENT INC. In Voluntary Liquidation Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, SARTA INVESTMENT INC. is in dissolution as of November 6, 2020.

International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________ LEGAL NOTICE

NOTICE LIBERTY MARITIME INTERNATIONAL LTD.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, LIBERTY MARITIME INTERNATIONAL . is in dissolution as of November 12, 2020.

MARKET REPORT

International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

www.bisxbahamas.com

THURSDAY, 19 NOVEMBER 2020

BISX ALL SHARE INDEX:

CLOSE

CHANGE

2105.38

17.66

%CHANGE

YTD

YTD%

0.85 -126.22

-5.66

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

BISX LISTED & TRADED SECURITIES 52WK HI 4.05 33.05 2.00 1.79 2.46 6.00 6.75 4.50 8.59 4.50 6.16 12.77 3.64 6.25 10.88 8.44 16.99 4.25 9.26 15.21

52WK LOW 3.13 22.65 0.67 1.62 1.67 5.00 6.00 2.70 4.75 3.50 5.60 11.06 2.10 3.85 9.60 7.50 13.04 3.20 8.15 13.90

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

SECURITY AML Foods Limited APD Limited Benchmark Bahamas First Holdings Limited Bank of Bahamas Bahamas Property Fund Bahamas Waste Cable Bahamas Commonwealth Brewery Commonwealth Bank Colina Holdings CIBC FirstCaribbean Bank Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard RF Bank & Trust 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

Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A RF Bank & Trust Limited Class A Focol Class B

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

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

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00

52WK HI 2.36 4.43 2.13 198.39 176.73 1.69 1.85 1.77 1.24 8.34 10.26 7.08 12.15 12.71 10.81 10.00 8.98 11.79

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.64 1.79 1.73 1.06 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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

SYMBOL FBB22 BFHB

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

MUTUAL FUNDS

MARKET TERMS

Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407

LAST CLOSE 4.05 23.61 1.62 1.78 1.67 5.50 6.61 2.99 4.75 3.64 5.99 11.26 2.21 6.22 10.34 8.40 14.30 3.94 8.85 15.20

CLOSE 4.05 32.12 1.62 1.78 1.67 5.50 6.00 2.99 4.75 3.64 5.99 11.26 2.21 6.22 10.27 8.40 14.30 3.94 8.85 15.20

CHANGE 0.00 8.51 0.00 0.00 0.00 0.00 (0.61) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.07) 0.00 0.00 0.00 0.00 0.00

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

VOLUME 1,115

1,000

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 VOLUME

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

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

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

NAV 2.36 4.43 2.13 198.36 173.98 1.68 1.81 1.76 1.07 8.30 9.90 7.08 11.27 12.71 10.23 N/A 9.28 11.86

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

P/E 16.9 34.5 N/M N/M N/M N/M 16.3 -6.8 33.9 19.8 13.3 15.6 21.7 13.3 15.9 11.5 17.5 19.4 9.4 24.1

YIELD 4.20% 3.92% 1.23% 0.00% 0.00% 0.00% 4.33% 0.00% 0.00% 3.30% 3.67% 6.39% 19.64% 0.96% 3.19% 2.86% 3.78% 3.05% 2.26% 4.01%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

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

INTEREST Prime + 1.75% 6.25%

MATURITY 19-Oct-2022 30-Sep-2025

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022

YTD% 12 MTH% 3.35% 4.31% 1.56% 3.12% 1.84% 2.51% 1.65% 2.39% 4.34% 9.82% 1.10% 2.34% -2.43% 1.49% 0.34% 2.43% -11.07% -9.92% -0.45% 8.36% -3.20% 11.46% 2.10% 5.15% -6.17% 3.54% 2.92% 5.55% -4.66% -3.81% N/A N/A -0.50% 3.70% -3.80% 4.10%

NAV Date 30-Sep-2020 30-Sep-2020 25-Sep-2020 30-Sep-2020 30-Sep-2020 31-Jul-2020 31-Jul-2020 31-Jul-2020 31-Jul-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 31-May-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020

YIELD - last 12 month dividends divided by closing price

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

Bid $ - Buying price of Colina and Fidelity

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

Ask $ - Selling price of Colina and fidelity

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

Last Price - Last traded over-the-counter price

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

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

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

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

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

N/M - Not Meaningful

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

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CAROLISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

LIQUIDATOR ______________________ NOTICE

Calis Private Foundation In Voluntary Liquidation

Notice is hereby given that in accordance with Section 52(2) (b) of the Foundation Act, 2004 Calis Private Foundation is in liquidation as of November 3rd, 2020.

Renata Munhoz Meirelles is the Liquidator.

LIQUIDATOR _____________________

LEGAL NOTICE

NOTICE ILANA LIMITED In Voluntary Liquidation Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, ILANA . is in dissolution as of November 6, 2020.

International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________

PAGE 10, Friday, November 20, 2020

THE TRIBUNE

No full cruise rebound forecast until late 2022 FROM PAGE ONE

volume business, providing around 75 percent of visitor numbers but just 11 percent of the spend, studies - albeit from the industry itself - nevertheless show it injected $322.57m into Nassau and Freeport in 2022.

The industry’s absence since the COVID-19 pandemic began in March has resulted in much of downtown Nassau closing down, with retailers such as The Linen Shop citing the predicted long wait for cruise

with the CDC, and it’s hard to say that understanding is clear as to when they they will resume. We were expecting some business in the fourth quarter, particularly the Caribbean, especially in Nassau, which is very important to our numbers. If that [had happened] we would be looking at the first quarter of 2021 with a very different lense.”

Nassau saw 3.81m passengers, or more than half The Bahamas’ total 7.2m visitor arrivals, pass through Prince George Wharf during 2019. Global Ports Holding’s forecasts now mean that it could miss much of the 2021 first half, which is traditionally the peak period for the Caribbean cruise industry.

passenger volumes to return to normal as a key factor in their decision to shutter permanently.

Emre Sayin, Global Ports’ chief executive, explaining what had further dampened the company’s outlook, said: “I think it would have been very reasonable to assume that cruising would first start in the US. It’s the biggest market, and we all expected activity to have started by now.

“It took much longer for the cruise lines to reach a common understanding

The Bahamian capital generated some $5.5m in revenues for Global Ports Holding during the 2020 first quarter, with the port operator now seeking to increase the forward speed on construction work designed to transform its facilities into a destination product that will generate higher per capita spending yields.

Jan Fomferra, Global Ports Holding’s chief financial officer, told analysts: “We are still discussing the continued spending in Nassau. We are finalising the numbers there. We have spent to-date, in the first nine months of 2020, $45m/$45.5m.

“The investment commitment could be to $250m.

We’ll likely end up lower

than that but it’s still subject to further discussions with our construction partners.”

Mr Kutman, meanwhile, implied that Nassau was well-positioned to benefit from whenever the cruise industry resumes sailing as a result of its ongoing cruise port upgrades. “I’m confident the industry will recover,” he added, “and as it does we expect the demand for governments and port authorities to improve management of their cruise ports will only rise as a result of this crisis.

“Keep in mind that most of these cruise ports, especially in the Caribbean, their countries are very heavily dependent on tourism. Their fiscal balances are very, very bad.

They have not received a

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 79° F/26° C Low: 65° F/18° C

TAMPA

TONIGHT

SATURDAY

SUNDAY

MONDAY

TUESDAY

Partly sunny, windy; a p.m. shower

Partly cloudy and breezy

Periods of sun with a shower or two

Partly sunny and breezy

Partly sunny with a shower in spots

A shower; windy in the afternoon

High: 82°

Low: 75°

High: 82° Low: 74°

High: 82° Low: 73°

High: 82° Low: 73°

High: 83° Low: 72°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

82° F

76° F

87°-77° F

87°-80° F

90°-74° F

86°-71° F

High: 82° F/28° C Low: 66° F/19° 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.

N

almanac

E

W

ABACO

S

N

High: 79° F/26° C Low: 71° F/22° C

20-30 knots

S

WEST PALM BEACH High: 81° F/27° C Low: 74° F/23° C

10-20 knots

FT. LAUDERDALE E

W

FREEPORT

High: 81° F/27° C Low: 75° F/24° C

N

S

E

W

High: 80° F/27° C Low: 72° F/22° C

MIAMI

High: 81° F/27° C Low: 72° F/22° C

15-25 knots

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 81° F/27° C Low .................................................... 74° F/23° C Normal high ....................................... 81° F/27° C Normal low ........................................ 70° F/21° C Last year’s high ................................. 82° F/28° C Last year’s low ................................... 68° F/20° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ............................................... 66.50” Normal year to date ................................... 37.63”

ELEUTHERA

NASSAU

High: 82° F/28° C Low: 75° F/24° C

Forecasts and graphics provided by AccuWeather, Inc. ©2020

High: 81° F/27° C Low: 73° F/23° C

N

KEY WEST

High: 81° F/27° C Low: 73° F/23° C

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

tiDes For nassau High

E

W

10-20 knots

S

10-20 knots

Low

Ht.(ft.)

11:47 a.m.

-----

3.1 -----

5:22 a.m.

6:23 p.m.

0.2 0.3

Saturday

12:20 a.m.

12:45 p.m.

2.4 2.9

6:24 a.m.

7:22 p.m.

0.5 0.4

Sunday

1:24 a.m.

1:45 p.m.

2.3 2.7

7:29 a.m.

8:19 p.m.

0.7 0.5

Monday

2:27 a.m.

2:42 p.m.

2.4 2.6

8:34 a.m.

9:12 p.m.

0.8 0.5

Tuesday

3:24 a.m.

3:36 p.m.

2.5 2.5

9:34 a.m.

9:59 p.m.

0.8 0.4

Wednesday 4:14 a.m.

4:24 p.m.

2.6 2.4

10:28 a.m. 0.7 10:41 p.m. 0.3

Thursday

2.7 2.4

11:16 a.m. 0.6 11:20 p.m. 0.2

4:58 a.m.

5:08 p.m.

sun anD moon Sunrise Sunset

6:30 a.m.

5:21 p.m.

Moonrise Moonset

11:51 a.m.

10:52 p.m.

First

Full

Last

New

Nov. 21

Nov. 30

Dec. 7

Dec. 14

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 83° F/28° C Low: 73° F/23° C

High: 83° F/28° C Low: 76° F/24° C

N

High: 81° F/27° C Low: 74° F/23° C

E

W S

LONG ISLAND

tracking map

High: 82° F/28° C Low: 74° F/23° C

H

Ht.(ft.)

Today

High: 82° F/28° C Low: 73° F/23° C

N

S

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

uV inDex toDay

CAT ISLAND

E

W

single tourist for the last nine months and are entering the peak season for the region.”

While acknowledging that Caribbean governments have multiple other priorities amid the COVID19 pandemic, Mr Kutman said investments in cruise port facilities were essential if countries were to “maintain reasonable cruise passenger volumes never mind the growth problems.”

He added that Global Ports was well-positioned to “withstand an extended shutdown” by the cruise industry well into 2021 if that was required, adding that its various ports have a “survivability” of close to 20 months without a single cent of revenue coming in.

12-25 knots

MAYAGUANA High: 82° F/28° C Low: 76° F/24° C

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

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 81° F/27° C Low: 76° F/24° C

High: 82° F/28° C Low: 76° F/24° C

GREAT INAGUA High: 83° F/28° C Low: 76° F/24° C

N

E

W

E

W

N

S

S

12-25 knots

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: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday:

WINDS NE at 10-20 Knots ENE at 12-25 Knots NE at 10-20 Knots ENE at 8-16 Knots NE at 10-20 Knots ENE at 10-20 Knots NE at 10-20 Knots ENE at 8-16 Knots ENE at 12-25 Knots ENE at 10-20 Knots ENE at 10-20 Knots ENE at 12-25 Knots NE at 10-20 Knots ENE at 8-16 Knots NE at 10-20 Knots ENE at 7-14 Knots NE at 12-25 Knots NE at 10-20 Knots NE at 10-20 Knots ENE at 8-16 Knots ENE at 10-20 Knots ENE at 8-16 Knots NE at 12-25 Knots NE at 8-16 Knots NE at 12-25 Knots ENE at 10-20 Knots

WAVES 8-12 Feet 8-12 Feet 2-4 Feet 1-3 Feet 6-10 Feet 5-9 Feet 6-10 Feet 4-8 Feet 8-12 Feet 6-10 Feet 4-8 Feet 4-8 Feet 2-4 Feet 1-3 Feet 6-10 Feet 4-8 Feet 3-6 Feet 2-4 Feet 8-12 Feet 8-12 Feet 3-6 Feet 3-5 Feet 4-8 Feet 3-5 Feet 4-8 Feet 3-6 Feet

VISIBILITY 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 80° F 80° F 76° F 75° F 79° F 79° F 80° F 80° F 79° F 79° F 74° F 72° F 81° F 81° F 83° F 83° F 81° F 81° F 81° F 81° F 80° F 80° F 81° F 81° F 80° F 80° F