British Virgin Islands Business News

The analysis of the latest events in BVI and worldwide, affecting BVI business environment; facts and statistics on BVI International Business Companies involved in global business activities.

Tuesday, July 01, 2008

New Harbor Charges Implemented by BVI Ports Authority from July 1

The British Virgin Islands Ports Authority enforces harbor charges effective today (July 1, 2008). Under the new fee structure, vessels entering and remaining in the territorial waters of the BVI will be charged $1 per foot for the first day, $0.75 per foot for the second day and $0.50 per foot for the third day. Vessels using Ports Authority facilities will be levied harbor charges in the amount of $1 per foot of vessel length per day, boats less than 15 feet and those that are home ported in the BVI are exempt from the harbor charges.

By words of Minister of Communications and Works Julian Fraser, for the Ports Authority, as a self-funded organization responsible for the development and maintenance of its infrastructure, it is necessary to collect harbor charges.

In 1991, the Ports Authority awarded a contract to a Canadian firm Sedley & Co. to study the authority's financial situation, and it recommended another fee structure that would ensure the economic viability of the organization. The regulations went into effect in 1997, but have never been enforced until now.

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