Daily Archives: March 6, 2017

Has Caribbean sugar a future? – Stabroek News

Posted: March 6, 2017 at 3:38 pm

Unless the sugar industry in Caricom can develop in the coming months a co-ordinated and concerted plan of action, it is quite possible that in a few years time there will be little left of an industry which, for evil and good, has played a central role in the making of the Caribbean.

This is because this year will see two tsunami-like events occur, both of which threaten the survival of the industry in its present form. The first relates to the changes that will take place this October in the EUs sugar regime. Then, as a long planned domestic measure, the EU will abolish national sugar production quotas in Europe. This will have the effect of reducing the price paid for ACP sugar, while also causing the overall volume of EU sugar imports to fall as Europe becomes self-sufficient.to continue reading this article, please subscribe. Already a subscriber ? Sign In.

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PEI piping plover survives hurricane, spotted in the Bahamas – CBC.ca

Posted: at 3:37 pm

A female plover named VC who spends the summer on a beach at Cross River, P.E.I. has been spotted in the Bahamas.

The sighting of VC is especially exciting because the Atlantic piping plover population took a devastating hit from Hurricane Matthew in October 2016. The Category 4 storm hit Andros, one of the largest islands in the Bahamas, where many of the endangered plovers spend the winter.

"We were concerned, a lot of our plovers end up in the Bahamas over the winter," said Julie-Lynn Zahavich, stewardship coordinator for the Island Nature Trust. Since 1995, the Trust has run apiping plover guardian program where volunteers monitor the endangered shorebird and do an annual census.

"Definitely it's very exciting," said Zahavich.

"We work with the plovers all summer long so it's kind of neat when they show up in another part of the world."

In 2011, the first piping plover census in the Bahamas counted more than a thousand piping plovers.There was even a park created in Joulter Cays in 2015 to protect the over-wintering plovers and other species.

VC with her mate and chicks at Cross River in 2016. (Isobel Fitzpatrick/Island Nature Trust)

After the storm, more than half of the plovers were missing in the key wintering area, raising concerns about what had happened to the birds from Atlantic Canada.

"We're still waiting to hear back on that area, but we're really not sure what the season will bring," said Zahavich.

"We'll have to probably wait until a full breeding season has gone to really assess the impact of the hurricane on our plovers," said Zahavich.

Volunteers with the Island Nature Trust act as guardians for the nests on P.E.I. beaches. (Submitted by Island Nature Trust)

VC has spent the last two summers on the beach in Cross River and in 2015, she and her mate hatched and fledged four chicks. Fledging is when the bird reaches an age where it has flight feathers and is capable of flying, about 20 days for piping plovers.

VC hatched at least three chicks in 2016, out of four eggs, but only two fledged.

VC has become a bit of a local celebrity. Her story was shared with Grade 4 students at nearby Souris Regional School, and they made special signs to alert people on the beach to the presence of the plovers.

These Grade 4 students at Souris Regional School created signs about the plovers, including VC, that were posted on the beach at Cross River. (Submitted by the Island Nature Trust)

"In school, we learn about endangered species and sometimes we learn about tigers and pandas and we wanted to connect that lesson to something in their area," explained Zahavich.

"We do have endangered species on P.E.I., the piping plover nests on a beach not far from their school, so it was interesting for them to make that local connection."

VC and her chicks were also featured at an Island Nature Trust event at Rock Barra called Stories from the Shore, talking about the beach ecosystem. Scopes were set up at a safe distance so that participants could see the plovers.

"There's a group of people that have that personal connection with this bird now so it's particularly exciting to those people that attended to know that VC is in the Bahamas," said Zahavich.

Through the piping plover guardian program, the Island Nature Trust tries to protect hatchlings like this one on P.E.I. beaches. (Submitted/Bird Studies Canada)

VC was banded in 2014 at St. Peter's Lake Run, near Lakeside Beach, part of a movement eastward of P.E.I.'s piping plover population.

"Where we used to see them in the national park and sometimes further west, we're definitely seeing them move east and wrapping around that northeast corner as well," said Zahavich, who notes that piping plovers are now seen on beaches around Souris, Panmure Island and Wood Islands.

The Island Nature Trust held an event at Rock Barra last summer where participants could observe the plovers, including VC, through scopes. (Submitted by the Island Nature Trust)

The plovers are each given a two character code, printed on the bands. About 30 of 60 plovers on P.E.I. have been banded over a couple of years, though not all of them have returned.

"Before we started banding, we actually didn't know where a large portion of our piping plovers were spending the winter so this banding is really important because we're now working with the Bahamas National Trust to protect them at the other end of their range," said Zahavich.

Without banding, says Zahavich, Islanders would never have known that VC was safe in the Bahamas.

"Piping plover banding stories are really great for us, people really like hearing about them," she said.

"It's not that often that you get to connect with an individual animal like that and I think that has a certain appeal to people and people get really excited."

The piping plovers are moving eastward on P.E.I. and can now be found on beaches near Souris, Panmure Island and Wood Islands. (Submitted by Martin Paquet/Island Nature Trust)

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PEI piping plover survives hurricane, spotted in the Bahamas - CBC.ca

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For Sale: $8.75M beachfront property in the Bahamas – National Post

Posted: at 3:37 pm

Craving some winter sun? For a mere $8.75 million, the Abaco Club on Winding Bay in the Bahamas could be the solution.

Homes and cottages wed love to have whether we can afford them or not

Key details: 5,834 sq. ft. 6 bedrooms, 6 baths $8,750,000 Kristi Hull, director of sales at the Abaco Club at Winding Bay, 410.206.4955 See full listing here

The home has a great room with coral stone accents.

The kitchen is well set up whether youd like to cook, or to have a chef cook for you.

Dining al fresco is always an option here.

Imagine waking up to this

A coral stone staircase leads up to the property.

If you have an interesting listing, reno or just a really neat home whether its for sale or not, drop us a line to tell us about it.

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For Sale: $8.75M beachfront property in the Bahamas - National Post

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Carnival Splendor Is Sailing on Revised Itinerary to the Bahamas – Travel Agent

Posted: at 3:37 pm

Carnival Splendor docked at Miami as planned on Sunday morning, disembarking those passengers who sailed on last week's less-port-intensive cruise.

Due to propulsion issues, the line had beenforced to cancel port calls at St. Thomas and Amber Cove.

Guests on thatvoyage endingSunday received a 50 percent refund and a 50 percent credit toward a future cruise, as well as a $100 per person shipboard credit.

Over the weekend, though, the line confirmed that Carnival Splendoris still experiencing thattechnical issue that's affecting the vessels maximum cruising speed. "The ships technical team is currently working on assessing the repairs," the statement said.

So, the seven-day cruisethat departed on Sunday has a sizably modified itinerary. With its engine issues, the ship simply can't go as fast as planned.

The new, modified itinerary will include an overnight stay in Nassau and a full day in Freeport, both in the Bahamas.

That's a big change, as the ship won't even get to the Caribbean.Originally, this cruise's itinerary included port calls inGrand Cayman; Belize City; Mahogany Bay in Roatan, Honduras andCozumel, Mexico.

In addition to being closer to south Florida, the Bahamas is also home to Grand Bahama shipyard, where Carnival Splendorreceived a drydock update last year. Those shipyard resources could prove helpful to Carnival as it works to fix the propulsion issue.

Guests who opted to sail on this revised itinerary are now receiving a 50 percent refund of their cruise fare and a 50 percent future cruise credit, as well as a $100 per person credit posted to their shipboard accounts.

Carnival also said it had allowed guests on thiscruise the option of canceling and receiving a full refund.

"Wesincerely apologize for this disruption to our guests vacation plans," Carnival said in its statement.

Visit goccl.com

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Bahamas govt denies US and Amnesty human rights reports – Jamaica Observer

Posted: at 3:37 pm

NASSAU, Bahamas (CMC) The Bahamas government has taken issue with the reports of the United States and Amnesty International on human rights issues in the Caribbean Community (CARICOM) country.

The Perry Christie government in separate statements said that it is preparing an official response and intends to issue a formal protest on the matter.

The government said that prior to the release of the US State Departments 2016 report on human rights in The Bahamas, the government spoke with representatives of the United States government prior to the release of the report on human rights in the Bahamas.

During those conversations, it was made clear to the US that the proposed report contained significant inaccurate information with no basis in fact and in some cases incomplete information.

Now that the US report has been publically released, the Ministry of Foreign Affairs & Immigration is preparing an official response from The Bahamas Government and intends to issue a formal protest in this regard.

In the report, Washington noted that on July 8, last year, a foreign citizen reported he had been beaten by two or more corrections officers at the Bahamas Department of Corrections (BDOC).

He said that following an altercation with an inmate, prison guards placed him in handcuffs, bent him over a cart, beat him with a PVC plumbing pipe wrapped in duct tape, and then took him back to his cell without providing any medical attention.

The report also indicated that a migrant held in the immigration detention centre in Freeport faced alleged unprompted, regular beatings from the guards, as well as inappropriate sexual behaviour toward female detainees.

Prison and detention centre conditions failed to meet international standards in some areas, and conditions at the governments only prison remained harsh due to overcrowding.

Overcrowding, poor sanitation, and inadequate access to medical care remained problems in the mens maximum-security block. In October 2015 the commissioner of corrections reported the maximum-security block of the prison held 625 inmates in spaces designed to hold approximately 375 inmates when constructed in 1953. The minister of national security reported that the BDOC, which was originally built to hold 1,000 prisoners, held 1,727 inmates as of October 2016.

The report noted that inmates reported receiving only two meals per day, and often only one, with a meal sometimes consisting only of bread and tea.

Fresh fruit and vegetables were rare to non-existent. Prisoners also reported infrequent access to drinking water and inability to save potable water due to lack of storage containers for the prisoners. A few cells also lacked running water, and in those cells, inmates removed human waste by bucket.

The report also noted that prison guards complained about the lack of a full-time dentist and a failure to appoint a staff psychiatrist.

There were four inmate deaths through October 2015, reportedly due to HIV infection, natural causes, an apparent suicide, and injuries resulting from fighting. Reports from the coroners court were pending on the latter two deaths.

The government did not provide updated statistics in 2016. In August 2016, upon the conclusion of a Royal Bahamas Defence Force (RBDF) hearing that was closed to the public, the Bahamian government cleared five RBDF marines accused of beating five Cuban detainees at the CRDC in 2013, Washington reported.

It also noted that numerous Haitian migrants reported being detained by immigration officials and solicited for bribes of B$1,000 to B$3,000 (One Bahamas dollar =US$1.00), with the CRDC front office functioning as a clearinghouse.

Many claimed that immigration officers targeted their dwellings once their undocumented status was discovered demanding multiple bribes. Haitian migrants and civil society organizations complained of frequent warrantless searches of Haitian homes without probable cause.

Regarding the 2016-17 Amnesty International report, the London-based human rights group criticised Nassau for its discriminatory posture towards lesbian, gay, bisexual transgender and intersex (LGBTI) people and for the countrys constitutional referendum on gender equality.

The Ministry of Foreign Affairs said the government takes no acts to discriminate against people based on their orientation, race, colour, creed, gender or religion.

The Bahamas Government shows that it is an equal opportunity protector of all citizens and residents of this country. In addition, the Government takes all appropriate steps to ensure that its citizens of whatever description are safe.

It is unfortunate, even in countries which are strong democracies with good human rights records, when there are public views espoused that are discriminatory. Nevertheless, The Bahamas Government is firmly committed to the protection of all its citizens.

On the question of right to privacy of citizens, the Bahamas government said it wanted to reiterate without qualification there is no threat to privacy in the Bahamas.

The reports of any such threat are entirely misplaced, it added.

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Bahamas govt denies US and Amnesty human rights reports - Jamaica Observer

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After Brief Alliance, Opposition Parties in Bahamas Split – Caribbean360.com (subscription)

Posted: at 3:37 pm

Branville McCartney has resigned from the position of Leader of Opposition Business in the Senate, a few months after the Opposition Leader from a rival party chose him for his position. (Photo credit: The Tribune)

NASSAU, The Bahamas, Monday March 6, 2017 Less than three months after Opposition Leader Loretta Butler-Turner tied the political knot with Democratic National Alliance (DNA) leader Branville McCartney, that marriage has ended in a bitter divorce.

In an unexpected move, McCartney, who was appointed as Leader of Opposition Business in the Senate, announced his immediate resignation from the post, declaring that his team was disassociating itself from the farce that has become the official opposition.

He was appointed mid-December 2016, after Butler-Turner created history first by replacing Hubert Minnis as head of the Free National Movement (FNM) and becoming the first female Opposition Leader, and then again by choosing the head of another party to fill the post of Leader of Opposition Business in the Senate.

At a news conference last week, McCartney charged that Butler-Turner had only sown seeds of confusion and had brought no real leadership or ideas to the post.

As leader of the DNA, in consultation with the executives of the party, I feel that we must now divest ourselves of the farce that has become the official opposition and fully direct our efforts to securing victory in the next general election, he said.

He told journalists he accepted the proposal to work with the Butler-Turner in Senate with the understanding that the DNA was separate and apart from any other opposition force, but would lend its voice, ideas and strength in official opposition to the failed [Perry] Christie administration.

FLASHBACK: Loretta Butler-Turner and Branville McCartney shake hands after the latters appointment as Leader of Opposition Business in the Senate was announced to the media.

McCartney suggested it was an error and lamented that there was currently no opposition party or personality in the House of Assembly that exemplifies the traits of leadership.

It was now obvious that Bahamian people will be better served by a DNA not complicit in the dysfunction that hobbles in Parliament at this time, he added.

Insisting that Bahamians deserved better, McCartney wasted no time in offering his party as the best option to tackle the problems facing the country.

To the people of the Bahamas, we say that if you want a government serious about fighting crime and putting the fear of God into these savage criminals who apparently have free reign on our streets, look to the DNA; if you want an end to this corruption that pollutes and perverts governance in our country, look to the DNA; if you want real accountability for where in the world our billions of tax dollars have been funneled without our knowledge, look to the DNA; if you want a government that stands for you and will return power and prosperity to the rightful owners of The Bahamas, look to the DNA, he insisted.

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Evacuation Ordered As Landfill in The Bahamas Burns – Caribbean360.com (subscription)

Posted: at 3:37 pm

Prime Minister Perry Christie (in black jacket) watches as the dump fires. (Photo: Facebook page of the Office of the Prime Minister)

NASSAU, The Bahamas, Monday March 6, 2017 An immediate evacuation has been ordered after a massive fire broke out at the city dump in The Bahamas capital, Nassau, in the island of New Providence yesterday and continues burning.

The order to leave the area immediately, applied to residents living in the surrounding area of Jubilee Gardens who have been advised to take all necessary precautions to ensure their safety. Evacuation facilities were established at the Kendal Isaacs Gymnasium.

The National Emergency Management Agency, NEMA, has activated its Emergency Plan, and all available resources have been mobilized, a statement from the government said.

Although it is too early to be certain, officials say it appears that a number of fires were started in the area and because of the high winds being experienced on New Providence, at least one of those fires blew across the boundary and ignited the public landfill.

Prime Minister Perry Christie was on the scene shortly after the scale and intensity of the blaze were confirmed.

The number one priority is to ensure that everyone is safe. I am confident that the Emergency Services are doing whatever is required to make certain that no-one comes to harm. We have already made every resource available to limit the damage to property, and to minimize environmental harm, he said.

Christie added that the government would reach out to international partners for assistance, if the situation warrants that.

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The Islands Of The Bahamas Welcome Fyre Festival to The Exumas – GlobeNewswire (press release)

Posted: at 3:37 pm

March 06, 2017 14:55 ET | Source: Bahamas Ministry of Tourism

photo-release

NASSAU, BAHAMAS, March 6, 2017 (GLOBE NEWSWIRE) -- The Bahamas is excited to host Fyre Festival 2017, slated to take place on April 28-30 and May 5-7 of this year. Set in the surrounding natural beauty of The Exuma Islands, Fyre Festival will deliver a one-of-a-kind immersive experience in music, culture, art, culinary delights and luxury for an unprecedented event over two weekends.

The musical performances, which will be staged on mainland Great Exuma Island, in scenic Roker's Point, will feature popular artists such as the G.O.O.D. Music Family, Major Lazer and Disclosure (DJ set). Fyre Festival organizers recently announced that Blink 182, Migos, Lil Yachty, Matoma, and Le Youth will also be performing. Additionally, Fyre Festival has partnered with ZERO to bring artists Lee Burridge, Rampue, Bedouin, Nicon, Daniel Cowel, Jan Blomqvist, Lovecraft, Bo, and Stephanie Roxanne to Fyre's "Pirate's Cove" stage. Blond:ISH, Tensnake, and Beto Abrahao will also perform. This enclave for electronic music will host a sunset to sunrise curated set and an array of top electronic / deep house talent. Additional headliners and the full music lineup will be announced soon.

The local Exuma community looks forward with delight to serving as host to Fyre Festival 2017. Local authorities have been working hard over the past months to prepare for the inaugural kick off on April 28. No efforts have been spared to ensure a wonderful experience for each of the thousands of guests coming for Fyre Festival 2017.

"We are very excited that The Exumas have been selected as the home of Fyre Festival. This music festival will bring to The Bahamas one of the largest events ever hosted in our destination, and we are delighted to welcome all attendees to our island. We're working closely with the Fyre Festival Team to ensure that visitors have an unforgettable trip to the Exumas. The Exuma Islands and surrounding seas are one of the most beautiful and pristine destinations in the world. We're looking forward to sharing the beauty of our island with guests of Fyre Festival, just eight weeks away" - The Hon. Obediah H. Wilchombe, M.P., West Grand Bahama and Bimini; Minister of Tourism.

For more information on Fyre Festival, please visit their website, http://www.fyrefestival.com and contact the organizers, concierge@fyreapp.com

About The Bahamas The Islands Of The Bahamas have a place in the sun for everyone. Each island has its own personality and attractions for a variety of vacation styles with some of the world's best golfing, scuba diving, fishing, sailing, boating, as well as, shopping and dining. The destination offers an easily accessible tropical getaway and provides convenience for travelers with preclearance through U.S. customs and immigration, and the Bahamian dollar is on par with the U.S. dollar. Do everything or do nothing, just remember It's Better in The Bahamas. For travel packages, activities and accommodations information, call 1-800-Bahamas or visit http://www.Bahamas.com. Look for The Bahamas on the web on Facebook Twitter and YouTube

A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=42243

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Iran Launches Two Ballistic Missiles, Sinking an Offshore Barge 150 Miles Away – Townhall

Posted: at 3:37 pm

Over the weekend, the Islamic Republic ofIran test-fired two ballistic missiles into the Gulf of Oman, with one sinking a floating barge approximately 155 miles away, according toFox News.

The first missile was fired on Saturday, but missed the target. A day later, a secondattempt was made successfully.

The two short-range ballistic missiles originatedfrom Islamic Revolutionary Guard Corps bases in Bandar-e-Jask, Iran.

"It's a concern based on the range and that one of the missiles worked," said a defense official.

Two years ago, Iran held a similar exercisedestroying a large barge designed to look like an American aircraft carrier.

In February,Ali Akbar Velayati, advisor to Ayatollah Ali Khamenei, made it clear that Iran has no plans of slowing down its nuclear program. The aide to Iran's supreme leader ripped an "inexperienced" President Donald Trump and assured the world that his country would continue ballistic missile testing.

"This is not the first time that an inexperienced person has threatened Iran," Velayati said. "Iran is the strongest power in the region and has a lot of political, economic and military power ... America should be careful about making empty threats to Iran.

"Iran will continue to test its capabilities in ballistic missiles and Iran will not ask any country for permission in defending itself," he said.

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W&T Offshore – A Complete Review Of Q4 2016 Results – Seeking Alpha

Posted: at 3:37 pm

Source: Offshore Energy Today - Gulf of Mexico

W&T Offshore, Inc. (NYSE:WTI)

W&T's growth in the deepwater Gulf of Mexico has been significant in recent years. Between 2009 and 2015, average deepwater production has grown nearly 700% and SEC proved reserves are up over 850%. Gross Acres have increased ~200% from 2009 to 2015. We define a deepwater property as one in over 500 feet of water.

From the company [website]

To access the WTI 4Q'16 conference call transcript, please [click here]

Q4 2016 Financial Snapshot (Nine Consecutive Quarters).

Total revenues

in $ million

Total production per day

In kBoe/d

Total production for the Q

in MMBoe

Average price oil eq.

$/Boe

Lease Operating Expenses ("LOE")

in $ million

Net income/loss

in $ million

45.93

G&A

in million

Operating loss/gain

in $ million

Cash and cash equivalent

in $ million

Total debt (long-term + current portion)

in $ million

Net Debt estimated

in $ million

EPS in $/s

(Excluding special item/with) in $/s

0.12

0.06

0.48

(0.24)

(1.58)

(0.47)

(2.49)

(0.95)

(0.68)

(0.44)

(6.29)

(0.82)

(3.43)

(0.54)

(3.36)

(0.96)

(0.44)

(0.54)

Shares outstanding

in million

Adjusted EBITDA (excluding special item)

in $ million

69.6

60%

52.48

49%

40.81

41%

16.55

21%

36.53

35%

59.20

79.67

53%

48.35

38%

Reserves:

The Company's year-end 2016 SEC proved reserves were 74.0 million Boe.

Liquidity:

At December 31, 2016, our total liquidity was $219.7 million consisting of cash balances of $70.2 million and $149.5 million of availability under our $150 million revolving bank credit facility.

Capital expenditures for 2017:

Are currently estimated at $125 million. Plug and abandonment activities for 2017 are currently estimated to total $78.3 million and are expected to be funded with cash on hand and cash flow from operating activities.

Commentary

W&T Offshore released its fourth quarter 2016 results on February 27, 2017. Revenues for Q4'16 were $115.21 million, up 7.5% quarter over quarter. The net Profit was $16.5 million or $0.12 per share.

Comparative data for the last nine Quarters (click graph to enlarge).

M. Tracy Krohn, CEO, said:

We are as enthusiastic as ever about the opportunities in the Gulf of Mexico and believe we are in a good position to take advantage of this prolific basin. We are entering 2017 with a lower cost structure and a capital program of profitable projects that should allow us to build cash. We expect to benefit from improved seismic technologies, lower operating costs and less competition in the Gulf. Assuming commodity prices continue to remain steady, our 2017 capital plan allocates approximately $125 million to projects that we believe provide a low-risk and high return in producing fields. These projects should yield moderate production growth in 2017 over 2016.

Three important topics:

1 - Production decline in the GOM well in the early years is much shallower than the unconventional shale plays. M. Krohn said in the conference call:

This shallow decline curve of many of our projects contributed to our ability to maintain steady production on a small capital program. It's one of the things we've always liked about the Gulf of Mexico and which obviously contributed to our value.

The Permian well has a depletion of nearly 70% the first year, while WTI well depletion is only 10% for the first year and 20% for the 5.5 years.

2 - According to SEC rules, the assumed oil price in this year's reserve report is set at $39.25 per barrel for the life of all reserves.

The company believes that the reserves are significantly under-booked on initial production due to the strict SEC guidelines, and therefore, WTI assumed asset value can be considerably understated and not indicative of our true underlying real asset value.

3 - The BOEM withdrew certain orders related to sole liability properties.

4 - Production in 2017 will be 4% above 2016 or approximately 16 MMBOE.

Conclusion:

W&T has improved significantly its balance sheet due to better oil prices. The recent positive momentum of the oil prices should help the stock in 2017 as well, and bring additional revenues that are indispensable for the survival of the business, as it is.

Oil prices are really the name of the game here, and it is still hard to see how they can really trade above $60 per barrel anytime soon with the US Shale booming again? Risk of a downside back to $45 per barrel cannot be brushed away.

Yet, one positive about WTI is that many of the company fields have reservoirs with multiple stacked pays, such as the Mahogany, UM Bank 9-10, Virgo and other stacked pay fields.

On January 6, 2017, I commented about the Ship Shoal 359 A-18 well has logged 149 feet of net oil pay in five zones and extended the size and depth of the Mahogany field.

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W&T Offshore - A Complete Review Of Q4 2016 Results - Seeking Alpha

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