Friday 6 November 2026
The Government of St Vincent and the Grenadines and Global Ports Holding (GPH) have signed a 30-year concession to develop and operate the Kingstown Cruise Port.
The agreement, signed on 26 October, follows a memorandum of understanding reached earlier in 2026 and is expected to take effect in the Q1 2027, subject to outstanding conditions.
GPH, described as the world’s largest cruise port operator, will receive operational, management and development rights, but the Government of St Vincent and the Grenadines will retain 100% ownership of the physical assets.
Tourism Minister Kishore Shallow stressed that the arrangement does not amount to privatisation. “I’m really happy that the honourable Attorney General mentioned or confirmed that we are only leasing the port and I’m not standing up here today to sell anything,” he said.
Under the signed agreement, GPH is required to invest at least US$20mn in the first phase to upgrade and expand existing cruise berths in Kingstown. A second phase requires a minimum US$60mn investment to construct a new pier west of Kingstown and a cruise ship and mega-yacht berth at Clifton, Union Island.
The agreement also provides for a special purpose vehicle through which Vincentian citizens and local entities may acquire up to a 30% equity stake in GPH St Vincent. Existing retail, food and beverage tenants at the port are guaranteed their current tenancy arrangements for at least three years, while GPH must incorporate local art, crafts, music and heritage into the terminal and provide space for cultural performances.
Prime Minister Godwin Friday said the country needed to modernise as cruise ships increase in size and existing infrastructure becomes less able to accommodate newer vessels. “We cannot stand still while the rest of the world moves on,” he stressed.
Shallow said the existing cruise facility can no longer accommodate some of the larger vessels now operating in the region, including XL-class ships. The government has pointed to GPH-managed facilities in The Bahamas and Puerto Rico as examples of how investment and professional port management can expand capacity and improve destination competitiveness.
Friday added that the principal measure of success would be whether the agreement generates wider economic gains for Vincentians. “We campaigned on putting money in people’s pockets. This agreement will do that,” he said, pointing to opportunities for taxi operators, tour guides, artisans, restaurants, farmers, fishers, truckers, suppliers and young entrepreneurs.
The government expects cruise activity to expand sharply. Officials have projected 355 cruise calls and 344,000 passengers for the 2026–2027 season, compared with 246 calls and 239,000 passengers in 2025–2026. GPH expects St Vincent Cruise Port to handle significantly more passengers after the deal takes effect.
GPH Chairman and Chief Executive Mehmet Kutman said the company intends to combine its international experience with the destination’s character. “Our ambition is to develop a modern, sustainable cruise port that creates lasting economic value, supports local businesses and communities, and ensures that the benefits of cruise tourism extend well beyond the port.”
Regional Director Mike Maura Jr. said GPH would draw on its experience in ports including San Juan and Nassau. “Our focus will be on enhancing the guest experience, strengthening the destination’s appeal to cruise lines and working closely with local stakeholders to create meaningful opportunities for businesses and communities,” he said.
The government has also emphasised environmental safeguards as port capacity expands. Friday said coastlines, beaches, reefs and ecosystems must remain protected, while Shallow argued that stronger infrastructure, improved service standards and a more distinctive tourism product are necessary for St Vincent and the Grenadines to compete for cruise traffic.
The agreement represents a significant bet on cruise tourism as a driver of wider economic activity, giving St Vincent and the Grenadines access to private capital and GPH’s global cruise-line relationships without relinquishing ownership of strategic port assets. Its longer-term impact, however, will depend on whether higher passenger volumes translate into greater spending with local businesses, stronger linkages with agriculture and services, and sustained opportunities beyond the port itself.
Source: Caribbean Insight – Volume 48, Issue 20