As part of its strategic objective of global representation and to develop opportunities in Argentina, The Bahamas Maritime Authority has signed a Memorandum of Understanding with Argenmar SA, an independent shipping group established in Argentina in 1992 that provides specialised shipping and logistics services in Argentina and Latin America. The MoU relates to future business opportunities within the Argentine maritime sector and the broader Latin America region.
Argentina, which is a member of the Acuerdo Latinoamerico Vina del Mar MoU on port state control within Latin America, had over 10,000 ships calling at its ports and operating within the River Plate region in 2021. This figure, which includes Bahamas flagged ships, covers a wide diversity of ship types ranging from oil, container, bulk carriers, passenger and general cargo ships. When combined with maritime traffic through the Hidrovias Waterway, this results in more than 100,000 tons of cargo movement annually.
The MoU was signed during a meeting held in Argentina in conjunction with the VII Community of Latin American and Caribbean states (CELAC). The Bahamas delegation was led by Prime Minister Rt Hon Philip Davis KC MP who was accompanied by: Minister of Foreign Affairs, Hon Frederick A. Mitchell MP; Minister of Transport & Housing, Hon Jobeth Coleby-Davis MP; BMA Chairman, Ms Jacqueline M. Simmons; BMA Deputy Chairman, Peter John Goulandris; BMA Managing Director & CEO, Capt Dwain Hutchinson and the Honorary Consul of The Bahamas in Argentina, Ted Pyfrom.
Present from Argenmar Shipping Group were José Pablo Elverdin Sr, Founder and Chairman of the Board, and José Pablo Elverdin Jr who, as well as being CEO/President of Argenmar S.A., is also President of the Federation of Argentina Shipping Companies (FENA) which represents 90% of Argentine ship owners. José Pablo Elverdin Sr was previously engaged with the Navios Group which had a maritime base in The Bahamas and contributed to the development of the country’s maritime sector including The Bahamas Ship Registry.
The Bahamas sees the potential for business opportunities in Argentina from the MoU which would build on the established and formal presence of the Honorary Consulate and the three companies providing flag state inspection services in the country. Signing an MoU with Argenmar SA, which is a respected local company whose founder has such strong ties to The Bahamas, opens up opportunities for collaboration with strategic stakeholders throughout Argentina and is a positive initiative to promote growth for the Registry and also expand The Bahamas’ representation within the Latin American region.