09/09/2026
The Development Bank of Jamaica (DBJ) Managing Director, Dr. David Lowe has confirmed that work is underway to assess the potential for further port development in St. Thomas.
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Jamaica risks losing valuable shipping business to regional competitors as space constraints at Kingston Wharves Limited restrict the port operator’s ability to accommodate additional vessels and cargo.
Business Development Manager at Kingston Wharves Limited Alfred McDonald says the company is already constrained by insufficient space, at a time when it is seeking to significantly expand its vehicle transshipment business.
Kingston Wharves currently moves more than 150,000 car-equivalent units annually, but is targeting 500,000 units within the next four to five years.
McDonald warned that the shortage of space to park transshipment vehicles is limiting the company’s ability to capitalize on demand, with the constraint also affecting its container business.
Digitally delivered service exports from Latin America and the Caribbean have nearly quintupled in two decades, reaching US$87.7 billion in 2024.
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The United Nations (UN) is putting fresh attention on how developing economies are financed, as countries fall further behind on global development targets.
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