GPH Signs 30-Year Concession to Operate Saint Vincent's Cruise Port

Global Ports Holding (GPH) signed a 30-year concession agreement with the government of Saint Vincent and the Grenadines to develop and operate the Caribbean nation's cruise port infrastructure. The signing took place on October 26 in Kingstown, in the presence of Prime Minister Dr. Godwin Friday and GPH Chairman and CEO Mehmet Kutman, and includes a minimum investment commitment of $80 million.

According to details provided by Attorney General Louise Mitchell and reported by local media, the investment program contemplates an initial tranche of $20 million to expand the existing cruise berth in Kingstown, followed by at least $60 million for new infrastructure, including a new berth west of Kingstown and cruise and megayacht facilities at Clifton, on Union Island. The agreement would also reportedly provide for up to 30% local ownership through an investment vehicle open to Vincentian investors.

GPH expects to begin operating the port in the first quarter of 2027, subject to the fulfillment of conditions precedent. The agreement follows the memorandum of understanding signed on June 11, 2026, which established exclusive negotiations on the management, development and operation of the port, while keeping the infrastructure under state ownership.

GPH estimates that the port will receive more than 250,000 cruise passengers during the 2026/27 season, a figure that would mark growth from the more than 200,000 annual passengers the company reported in June.

Prime Minister Friday noted that the current cruise infrastructure, developed more than 25 years ago, is increasingly constrained by the size and technical requirements of modern vessels, and that the partnership with GPH will allow for increased capacity and stronger ties with cruise operators. Kutman highlighted the importance of the Caribbean for the global cruise industry and pointed to the Grenadines as well positioned to benefit from the expansion of the luxury cruise segment. GPH already operates cruise ports in Antigua, Nassau and Saint Lucia, in addition to San Juan Cruise Port in Puerto Rico, which it has operated since February 2024 under a public-private partnership also spanning 30 years.