Carib Scope

分类： business

  • Petrotrin must be upgraded

    Petrotrin must be upgraded

    In a compelling analysis of Trinidad and Tobago’s energy sector, industry expert Gordon Laughlin argues that the modernization of the Pointe-a-Pierre refinery represents not merely an option but a critical strategic necessity for the nation’s economic future.

    The refinery, which ceased operations in 2018, previously positioned Trinidad as a regional energy powerhouse, supplying the entire Caribbean with a comprehensive range of refined petroleum products including LPG, unleaded gasoline, jet fuel, kerosene, diesel, fuel oil, bitumen, sulphur, and base lubricants. This capability ensured both national self-sufficiency and established Trinidad as a significant exporter within the region.

    Laughlin identifies three pivotal opportunities that a modernized facility could capture. First, the nation possesses the scientific and industrial capacity to develop high-value derivatives from its own Pitch Lake resources. Lake Asphalt already produces refined pitch and sealants for export, representing a niche, high-margin market that remains significantly underutilized despite its considerable potential.

    Second, any refinery reactivation must incorporate future-proof capabilities to process Guyana’s light sweet crude, currently among the hemisphere’s most sought-after commodities. Failure to develop this capacity would allow other nations to capitalize on refining and profiting from Guyana’s resources.

    Third, the facility requires capabilities to refine Venezuelan heavy crude. Despite its challenging composition, Venezuela’s proximity offers substantial freight savings, faster shipment turnaround times, and opportunities for blending or refining this crude for regional distribution. This would reposition Trinidad advantageously within the Caribbean energy logistics chain.

    Laughlin advocates for positioning the refinery as the Caribbean’s premier toll refining facility, blending hub, and finished products supplier rather than allowing other nations to seize these emerging opportunities. The commentary concludes that Trinidad has never lacked the talent, resources, or strategic location for such endeavors, but has instead faced a deficit of political will to realize this vision.

  • Petrotrin must be upgraded

    Petrotrin must be upgraded

    The closure of Trinidad and Tobago’s Pointe-a-Pierre petroleum refinery in 2018 marked the end of an era when the nation served as a regional energy powerhouse. Formerly operational under Petrotrin, the facility once supplied Trinidad and much of the Caribbean with comprehensive refined petroleum products including LPG, unleaded gasoline, jet fuel, kerosene, diesel, fuel oil, bitumen, sulphur, and base lubricants, establishing national self-sufficiency and export capabilities.

    Current global energy transformations have revealed that modernizing the refinery represents not merely an option but a strategic necessity. Trinidad possesses the scientific and industrial foundation to develop high-value derivatives from its indigenous Pitch Lake resources. Lake Asphalt has already demonstrated this potential through exporting refined pitch and sealants—a niche, high-margin market that remains significantly underutilized despite its considerable value.

    A reactivated facility must be future-proofed to process Guyana’s light sweet crude, currently among the hemisphere’s most sought-after commodities. Failure to capitalize on this opportunity would allow other nations to profit from refining Guyanese crude. Simultaneously, the refinery should be engineered to handle Venezuelan heavy crude, leveraging Trinidad’s geographical advantage to achieve substantial freight savings, faster shipment turnarounds, and blending capabilities for regional distribution.

    Rather than observing competitors seize these opportunities, Trinidad should reposition the refinery as the Caribbean’s premier toll refining facility, blending hub, and finished product supplier. The nation has never lacked technical expertise, natural resources, or strategic location—only the political determination to reactivate this critical asset in alignment with evolving hemispheric energy dynamics and geopolitical realities.

  • Angostura Founders Reserve 1824 gets artistic with packaging

    Angostura Founders Reserve 1824 gets artistic with packaging

    ANGOSTURA Ltd has launched an exclusive collection of artistically designed packaging for its premium Founders Reserve 1824 rum, blending Trinidad and Tobago’s vibrant cultural heritage with premium spirits craftsmanship. The initiative features collaborative designs from four distinguished local artists—Sara Knights, Nicholas Huggins, Shawn Chong-Ashing, and Bianca Peake—each interpreting national identity through unique visual narratives.

    Shawn Chong-Ashing’s contribution captures the evolution of Trinidadian dance traditions, illustrating the seamless flow of cultural expression through depictions of a belé dancer and a masquerader. Meanwhile, Bianca Peake employs her signature watercolor technique to explore themes of national identity and self-perception, creating a visual declaration of Trinbagonian heritage.

    CEO Ian Forbes emphasized that this limited release honors both the company’s longstanding legacy and contemporary artistic innovation. “Each box transcends conventional packaging to become a collector’s item appealing to both rum aficionados and fine art enthusiasts,” Forbes stated in the December 24 announcement.

    The specially packaged rum is currently available at select Angostura retail locations including Solera Wines and Spirits outlets in Chaguanas, Marabella, Port of Spain, Laventille, and Trincity. Additionally, the collection will debut in duty-free stores nationwide beginning next week, offering international travelers a taste of Trinidad’s artistic and distilling excellence.

  • BOJ: banks can weather Melissa and keep credit flowing

    BOJ: banks can weather Melissa and keep credit flowing

    The Bank of Jamaica (BOJ) projects a significant rise in bank loan defaults over the coming year as Hurricane Melissa’s economic repercussions intensify. Despite anticipating a near doubling of non-performing loans from the current 2.7% of total loans, central bank authorities assert the financial system remains robust and adequately prepared to withstand the shock.

    Governor Richard Byles, addressing attendees at the BOJ’s quarterly monetary policy conference, emphasized that Jamaica’s banking sector entered this period of economic distress from a position of notable strength. While acknowledging that credit conditions will naturally tighten during reconstruction efforts, Byles highlighted the system’s substantial capital buffers and conservative risk management practices as key stabilizing factors.

    Deputy Governor Dr. Jide Lewis provided detailed analysis, indicating that credit quality deterioration will likely unfold over the next four to five quarters. This anticipated increase in defaults, while substantial, would remain comfortably below the 10% threshold that typically triggers supervisory concern. Even if non-performing loans double to approximately 6%, Lewis noted this would remain significantly beneath worrisome levels.

    The central bank’s confidence stems from several protective factors within Jamaica’s financial infrastructure. Banks currently maintain provisions covering nearly 100% of existing non-performing loans, effectively pre-funding expected losses. Additionally, the system’s capital adequacy ratios stand at approximately 14.5% – 4.5 percentage points above regulatory requirements – providing substantial loss-absorption capacity.

    Dr. Lewis emphasized that profitability preceding the hurricane, combined with existing provisions and capital buffers, positions banks to manage increased defaults while maintaining normal operations. This financial resilience enables lenders to continue providing crucial credit to households and businesses during reconstruction rather than retreating from lending activities.

    The BOJ’s assessment comes as Jamaica enters a critical rebuilding phase requiring sustained financing for household repairs, mortgage adjustments, business restarts, and construction projects. While near-term economic contraction is expected, the banking system’s ability to act counter-cyclically – supporting economic activity during distress rather than amplifying downturn through credit restriction – represents a crucial stabilizing factor for national recovery.

    Despite this confidence, the central bank maintains vigilant monitoring of loan performance across institutions and sectors, particularly those most affected by Hurricane Melissa, ensuring ongoing assessment of the financial system’s capacity to navigate the challenging recovery period.

  • CAC 2000 exits retail storefronts in cost-cutting move

    CAC 2000 exits retail storefronts in cost-cutting move

    Jamaican air conditioning specialist CAC 2000 Limited has strategically withdrawn from its consumer retail operations, closing both Montego Bay and Kingston locations as part of a comprehensive cost-reduction initiative. The 25-year-old company, facing significant working capital constraints, is returning to its core expertise in large-scale commercial and government projects.

    The Montego Bay outlet ceased operations October 1, followed by the Village Plaza location in Kingston on December 1. Company leadership emphasized these closures represent a necessary operational streamlining rather than a strategic pivot, with expectations of minimal financial impact.

    This retrenchment follows concerning financial performance. For the quarter ending July 31, 2025, CAC 2000 reported a $29.7 million net loss, accumulating to $73.9 million year-to-date despite improved operating cash flow of $51.9 million. Quarterly revenue declined dramatically to $222.1 million from $307.3 million year-over-year, reflecting reduced activity outside major projects.

    CEO Gia Abraham revealed to the Jamaica Observer that delayed collections from a specific client segment have created severe liquidity pressure. “We are having cash-flow issues mainly because a particular customer segment comprises substantial receivables, creating negative business impact,” Abraham stated. “We must take necessary measures to preserve operations.”

    The company’s trade receivables ballooned to $869.6 million as of July 31, up from $628.9 million a year earlier, indicating severe collection challenges.

    Despite retail closures, CAC 2000 maintains its commercial headquarters at 231 Marcus Garvey Drive in Kingston and continues service operations in Montego Bay. The company’s brief retail experiment, launched in 2023 with the Village Plaza opening followed by Montego Bay, was intentionally designed with minimal investment due to management’s awareness that retail fell outside their core competencies.

    Abraham indicated future consumer engagement would likely occur through digital channels or existing commercial partnerships rather than physical stores. Current priorities include stabilizing cash inflows and ensuring execution of major projects, particularly an extensive energy-efficiency contract with the Ministry of Science, Energy, Telecommunications and Transport involving solar installation and AC retrofitting across 22 government institutions, including 16 hospitals.

    “We maintain a healthy project portfolio but face challenges,” Abraham acknowledged. “This represents returning to fundamentals—taking strategic steps backward to enable future advancement.”

  • Vacancy: Production Manager

    Vacancy: Production Manager

    A prominent Grenadian manufacturing enterprise has announced an exceptional career opportunity for an experienced Production Manager within its distillery operations. The organization seeks a dedicated professional ready to embrace the challenges of overseeing sophisticated bottling and blending processes while driving operational excellence.

    The successful candidate will assume comprehensive responsibility for maximizing daily production output while maintaining stringent compliance with ISO 22000 food safety standards and quality control protocols. This leadership position demands meticulous attention to detail across all manufacturing phases, from raw material verification to finished product delivery.

    Core operational duties include developing and implementing daily production schedules, optimizing workforce allocation, and minimizing equipment downtime through proactive maintenance strategies. The Production Manager will also spearhead continuous improvement initiatives, utilizing data analytics to enhance efficiency and productivity across all manufacturing segments.

    Beyond technical oversight, the role encompasses significant personnel management responsibilities. The selected individual will mentor departmental staff, foster professional development, and maintain team morale while ensuring adherence to operational protocols. Budget management constitutes another critical component, requiring the formulation of both recurrent and capital expenditure proposals.

    The ideal candidate must possess a Bachelor’s degree in Natural Sciences or Engineering, with postgraduate distilling qualifications considered particularly advantageous. Certification in ISO Management Systems and Food Safety Procedures is mandatory, complemented by minimum five years’ supervisory experience within distillery operations or comparable manufacturing environments.

    Essential technical knowledge encompasses liquid filtration principles, packaging requirements, HACCP protocols, and Good Manufacturing Practices. Behavioral competencies should include advanced communication skills, innovative problem-solving capabilities, and demonstrated proficiency in collaborative leadership across organizational hierarchies.

    Interested professionals must submit comprehensive application packages including cover letter and CV in Word or PDF format, accompanied by three business references, to the designated email address with the specific subject line ‘Application: Production Manager’. The submission deadline remains January 12, 2025, though the organization reserves the right to modify this timeline.

    J’S HR Consultancy, acting as recruitment agent, confirms the legitimacy of this advertisement and the esteemed reputation of the hiring organization within Grenada’s business community. Additional enterprise details will be disclosed to shortlisted candidates during subsequent selection phases.

  • BHTA strengthens skills with new marketing, business development course

    BHTA strengthens skills with new marketing, business development course

    In a strategic move to enhance Barbados’ tourism competitiveness, the Barbados Hotel and Tourism Association (BHTA) has celebrated the inaugural graduation of its specialized marketing and business development program. This four-week intensive course specifically targeted small accommodation providers and direct tourism service members, equipping them with advanced digital marketing strategies and brand development techniques essential for thriving in today’s data-driven tourism economy.

    The program, developed in collaboration with Flourish by Design, utilized the innovative ‘Piggies and Pickles’ framework designed to help small and medium-sized enterprises overcome branding challenges cost-effectively. Fully funded through the BHTA’s Tourism Fund, this initiative represents the association’s ongoing commitment to supporting national marketing objectives beyond traditional trade show participation.

    BHTA Operations Manager Greg Broomes emphasized the program’s strategic importance: ‘While international trade shows remain valuable, we recognize that smaller entities often lack resources for regular attendance. Equipping them with modern marketing tools enables them to amplify national marketing efforts and compete effectively in key source markets.’

    Graduates will now transition into a comprehensive year-long Group Mentorship Programme featuring quarterly expert-led workshops. This extended support system ensures practical application of learned skills and continuous professional development throughout the year.

    Program participant Barbara Thomas, Regional Manager of SunTours Caribbean, attested to the program’s transformative impact: ‘This training revolutionized our ability to communicate brand value and tell our story effectively. The knowledge gained directly enhanced our participation in the World Travel Market in London, allowing us to position Barbados as a premium destination.’

    Debbie Estwick, Strategic Brand Consultant and program facilitator, praised participants’ dedication: ‘We demystified branding and marketing management for the digital age, proving that strategic patience and smart partnerships can turn branding challenges into financial successes.’

    The initiative underscores Barbados’ broader commitment to sustainable tourism growth by empowering local businesses to become authentic brand ambassadors, ultimately strengthening the island’s position in the competitive global tourism market.

  • Port truckers see import surge as Bajans look abroad for cheaper goods

    Port truckers see import surge as Bajans look abroad for cheaper goods

    A significant pre-Christmas surge in personal import activity at Bridgetown Port indicates a growing trend among Barbadian consumers seeking alternatives to high local prices by sourcing goods directly from international markets, according to port personnel.

    Port truck drivers report substantially increased workload in recent weeks, predominantly driven by household import volumes rather than commercial shipments. One driver interviewed noted the dramatic uptick in activity, stating that personal imports have exceeded last year’s holiday season volumes considerably.

    “The Christmas period has brought tremendous increase in import activities,” the driver reported. “Individual households are generating the majority of port logistics work through their consistent importation of barrels, boxes, and various household goods rather than large corporate consignments.”

    The driver directly attributed this consumer behavior shift to Barbados’ cost of living challenges, suggesting that residents find international sourcing more economically viable than purchasing from local retailers. “With local prices at current levels, households are strategically opting to procure desired items from overseas markets to maximize their purchasing power,” he explained.

    While acknowledging occasional processing delays due to customs clearance procedures, the driver confirmed that deliveries generally proceed efficiently even during the seasonal rush when documentation is properly prepared.

    The aggregation of seemingly small individual shipments—typically one or two barrels per household—creates substantial cumulative volume that sustains employment for truckers, freight forwarders, and clearing agents throughout the holiday season. From the driver’s perspective, while commercial enterprises import larger single consignments, the frequency of personal imports significantly outweighs business deliveries in overall port activity.

    Additionally, port workers have observed increased vehicle imports, though they emphasize this observation comes from direct operational experience rather than official statistics. This automotive import trend similarly reflects household efforts to optimize financial resources during economically challenging times.

    Despite the intensified workload and extended hours, the seasonal import surge has provided welcome financial benefits for workers throughout Barbados’ port logistics sector.

  • Thousands welcomed amid high-volume arrivals at ports of entry

    Thousands welcomed amid high-volume arrivals at ports of entry

    Barbados witnessed unprecedented tourism activity during its Tourism Week celebrations, with both air and sea ports experiencing historic passenger volumes. The island’s tourism sector demonstrated remarkable operational capacity as it welcomed thousands of visitors through coordinated hospitality initiatives.

    At Grantley Adams International Airport (GAIA), Saturday marked the busiest day for commercial flights in recent history. CEO Hadley Bourne reported the arrival of 22 wide-body commercial aircraft, supplemented by six cargo flights and approximately 13 regional services. This air traffic surge translated to nearly 7,900 tourist passengers and an additional 2,000 air-to-sea passengers transitioning through the airport facilities.

    Simultaneously, Bridgetown Port recorded an impressive influx on Friday, with over 10,000 cruise passengers disembarking from three major vessels: Arvia, Grand Princess, and Costa Pacifica. The cruise terminal transformed into a vibrant cultural hub, featuring traditional tuk band performances and local culinary offerings.

    The Barbados Tourism Marketing Inc. (BTMI) orchestrated special Visitor Appreciation Day activities across both ports. Arriving guests received warm welcomes featuring artisanal cocktails by mixologist Shane McCLean, complemented by local sweet treats and souvenir gifts. Departing travelers enjoyed farewell presentations from performers in traditional attire, with a roving photographer capturing final vacation moments.

    Notable enhancements included musical performances by pianist Rhea Drakes in food court areas and a special appearance by cricket legend Joel Garner, who engaged with visitors through autograph sessions and photo opportunities. The event also featured an innovative multilingual volunteer program, with students from the University of the West Indies and Barbados Community College providing translation services and local guidance in German, Italian, French, and Spanish.

    Airport authorities reported that pre-season equipment investments significantly improved operational efficiency during the peak period. Tourism officials expressed particular satisfaction with the robust arrivals from key source markets including the United States, Canada, Europe, and Caribbean neighbors.

    The successful Tourism Week, held December 14-20 under the theme “Tourism and Sustainable Transformation,” concluded with these events, demonstrating effective collaboration between BTMI, educational institutions, and local communities.

  • Over 7,800 cruise passengers arrive in Antigua in single day

    Over 7,800 cruise passengers arrive in Antigua in single day

    The shores of Antigua and Barbuda experienced a significant economic uplift on Monday as a formidable fleet of four cruise vessels descended upon St. John’s Harbour, delivering an impressive influx of over 7,800 passengers to the capital. This maritime convergence marked one of the most substantial single-day arrivals for the Eastern Caribbean nation, generating vibrant commercial activity throughout the urban center.

    According to official data released by Antigua Cruise Port, the German-flagged Mein Schiff 2 led the nautical procession with approximately 2,800 passengers aboard. It was closely followed by AIDAsol, which contributed an additional 2,400 visitors to the bustling port. Completing the maritime quartet were the renowned Queen Elizabeth and the luxury vessel Azamara Quest, which collectively accounted for nearly 2,600 more travelers disembarking onto Antiguan soil.

    The substantial visitor volume translated into immediate economic benefits across multiple sectors. Transportation providers witnessed exceptional demand for their services, with taxi operators reporting near-constant occupancy throughout the daylight hours. Tour companies experienced robust booking rates for island excursions, while retail establishments and dining venues recorded notably higher transaction volumes compared to typical weekday operations.

    Port authorities confirmed that this event aligns with an accelerating trajectory for cruise tourism, with December alone scheduled to host 98 vessel calls—surpassing the total recorded during the corresponding period last year. Industry analysts interpret these figures as indicative of the sector’s robust recovery and expansion within the Caribbean basin.

    The remarkable turnout not only demonstrates Antigua and Barbuda’s growing prominence as a premier cruise destination but also underscores the industry’s critical role in sustaining employment opportunities and supporting small to medium enterprises throughout the dual-island nation. Port officials emphasized that strategic investments in port infrastructure and visitor experiences continue to yield substantial returns in market competitiveness.