Sagicor welcomes development of dry dock shipping services industry

Sagicor Bank Jamaica says it looks forward to the development of the dry dock shipping services industry in Jamaica.

Sagicor Bank, the lead arranger in raising funds for the dry dock project, says it committed more than US$18 million to German Ship Repair Jamaica for developing the dry dock facilities and importing the floating dry dock.

The project's first phase is underway, as the floating dock arrived in Jamaica on August 24 to its new home port at the German Ship Repair Jamaica Shipyard in Kingston Harbour.

So far, Sagicor says 14 Jamaicans who received training through the GSRJ's Dual Apprenticeship Program, supported by the HEART/NSTA Trust and the Caribbean Maritime University, have been employed to work at the shipyard. 

The dry dock facility is expected to service its first ship in late November 2023 and officially open in January 2024.

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