SHIPPING
An increasing number of global shipping companies are realizing Jamaica's potential as a regional logistics hub, resulting in an influx of FDI and upgrade of the local workforce.
We are seeing an improvement in the terminal operation, which, at the end of the day, will help us have a better and more efficient operation in Jamaica. The water has been dredged, and we now see large vessels of 10,000TEUs coming to Jamaica. We have ships coming with 14-m draught, which is a significant increase compared to 12.5m in the past. In terms of logistics, we are trying to work with Jamaican authorities because we are a big believer of making Jamaica the logistics hub of the Caribbean. ZIM is the leading shipping company in Jamaica. We have a nice market share from the global market and are currently also focused on the closed markets, like the Caribbean and the US. ZIM offers the fastest services, transporting cargo from the New York area into Jamaica within two or three days. Keeping in mind the market's demand for logistics operations such as tracking and customs brokerage, we recently made the decision to coordinate with trackers and provide a full solution, making us a one-stop shop. In terms of expansion, we are looking to grow our market share in Jamaica and have started to enter into the less than container load (LCL) business. As a global company, we want to deliver first-class service to our customers. To that end, the company decided to go digital and is currently looking for new solutions. Moving forward, we are looking to grow together with the market and make the necessary adjustments in line with international trade patterns.
PAS Cargo has been in operation since 2004 and entered the Jamaican market in 2016. Since then, we have consistently increased our client base and improved our service menu. We recently moved headquarters to a warehouse space with an increased 9,300-sqm space to accommodate for high volumes of cargo. Equally important, we installed a state–of-the-art web-based logistics software, scanning technology, and on-line tracking tools to improve processing times. Over the past year, PAS Cargo has also become a licensed Free Trade Zone facility, which has facilitated our ability to ship bonded cargo. Moreover, the company also opened a distribution center, allowing customers based in Miami to ship to our distribution centers. At present, we are present in Guyana, Trinidad & Tobago, Grenada, and St Lucia, and we have offices in Los Angeles, Canada, Panama, Suriname, New York, and Barbados. Our largest markets are Guyana, Trinidad & Tobago, and Barbados, and we intend to add Jamaica to that list. In Jamaica, we provide shipment of commercial cargo via ocean, air and inland to the public and private sectors. Regarding future goals, as a freight forwarder, we cannot maintain our relevance unless we are in line with our customers' needs. PAS is constantly analyzing the trends of the shipping industry by being a part of key organizations such as Manufacturer's Association of Jamaica and Shipping Association of Jamaica, among others.
SHIPPING
TABLE OF CONTENTS
Interview
Michael Lee-Chin, Founder and Chairman, Portland Holdings, Chairman, Economic Growth Council, Chairman, National Commercial Bank (NCB)
Portland Holdings manages public and private equity and strives to build strong businesses that support the well-being of the communities in which they operate.
read articleCommuniqué
A Legal Introduction to Jamaica’s SEZ Regime
A special economic zone (SEZ) is as a geographical demarcated area within a country's national borders that is governed by trade and business laws that are distinct from the laws of the rest of that country. The objective of an SEZ is usually to attract investment to a nation's shores, and thereby increase employment and economic growth.
read articleInterview
Daryl Vaz, Minister with responsibility for Land, the Environment, Climate Change, and Investment, Ministry of Economic Growth and Job Creation
The Ministry of Economic Growth and Job Creation is working hard to ensure Jamaica's growth doesn't come at the expense of its environment.
read articleFocus: Brain drain
Holding on to the Best
Given its close proximity to North America's economic powerhouses and its warm relationship with its former colonial power, Jamaica's best and brightest have long decamped for more developed shores. The government is now fighting to encourage them to stay at home.
read article
