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Does Denmark still get port fees?

AandA2VI
June 01, 2018 01:58AM

Registered: 6 years ago
Posts: 2,208

A discussion lead to someone saying that the Danish get a large portion currently of the cruise ship money for docking at WICO. I can’t find anything on this and it’s driving me crazy. Does anyone know for FACT or where I can find this out?

Re: Does Denmark still get port fees?

Alana33
June 01, 2018 07:42AM

Registered: 6 years ago
Posts: 11,847

Denmark sold VI to USA.
They would not receive any port fees.

Re: Does Denmark still get port fees?

AandA2VI
June 01, 2018 11:30AM

Registered: 6 years ago
Posts: 2,208

Are you 100% sure that there isn’t some kickback in the sale? These people were addimate there is.

Re: Does Denmark still get port fees?

ironheadUSVI
June 01, 2018 11:36AM

Registered: 1 year ago
Posts: 218

Quote
AandA2VI
These people were addimate there is.

These people who?

Re: Does Denmark still get port fees?

AandA2VI
June 01, 2018 02:15PM

Registered: 6 years ago
Posts: 2,208

Just some people on WGOST FB. Local bahn here which insisted despite no evidence that it’s fact.

Re: Does Denmark still get port fees?

ms411
June 01, 2018 07:56PM

Registered: 8 years ago
Posts: 3,422

When Denmark sold Virgin Islands to US the privately held West Indies Company (Havensight) was not included in the sale. The VI government bought it through Government Employee Retirement System (GERS) in the late 20th century in a final bid of freedom from Denmark.

I don't remember the terms of the sale including port fees infinitum to Denmark.

The other ports are owned by Port Authority so Denmark never received fees from them.

I remember the issue very clearly because it was topic of discussion on radio and widely covered in Daily News because of the price.

WICO is an asset on GERS balance sheet, and it has been debated for years that WICO and Port Authority are competing against each other to the detriment of VI govt.

Re: Does Denmark still get port fees?

Gator's Mom
June 02, 2018 06:56AM

Registered: 5 years ago
Posts: 831

From page 424 of the USVI budget published by the governor's office on May 30, 2018.

The West Indian Company Limited was created in 1993 by the Legislature of the United States Virgin Islands (USVI) through the enactment of Act No. 5826, which approved the stock purchase agreement between the Government of the Virgin Islands and Selandia Finance and Investment B.V. for the purchase of WICO. The Virgin Islands Public Finance Authority is the sole shareholder of WICO’s stock.

WICO’s operations consist of berthing and servicing cruise ships owned by established shipping lines and leasing building space and land to third parties and providing direct management of the Havensight Mall pursuant to a management agreement with the Government Employees’ Retirement System (GERS).

WICO is composed of four (4) departments: Marine & Cruise Operations, Construction, Leasing and Maintenance (CLM), Security and Accounting.

The members of WICO’s Board of Directors are as follows: 1) Joyce Dore Griffin, Chairperson; 2) Michael Watson, Vice Chairperson; 3) Edward Thomas, Secretary; 4) Ricardo Lettsome, Member; 5) Michele Nico, Member; 6) April Newland, Member; 7) Vivek Daswani, Member; 8) Pedro Cruz, Member; and 9) Celestino White, Sr. The President and Chief Executive Officer of WICO is Mr. Clifford Graham.

From page 422 of same document.

The Virgin Islands Port Authority (VIPA) was created through Act. No. 2375 of the Seventh Legislature of the Virgin Islands on December 24, 1968. Act No. 2405 later changed the official establishment date of the Authority to February 11, 1969. The Act established VIPA as a semi-autonomous agency charged with the ownership, operation, development, and management of all air and marine ports in the United States Virgin Islands. The Authority is also responsible for the Territory’s harbors, but it does not control the mooring and anchoring of vessels. It is governed by a Board of Governors which sets policy.

The Executive Director is responsible for implementing these policies and overseeing the day-to-day operation of the agency. The Board is comprised of nine (9) members who represent St. Thomas, St. Croix, and St. John. Four (4) members of the Governor’s Cabinet sits on the Board and serve at the discretion of the Governor. The five (5) other Board positions are reserved for private citizens who are appointed by the Governor and are subject to the approval of the Legislature of the Virgin Islands. These members are appointed to a three (3) year term of office and each is eligible for reappointment.

The current members of the Board are the following:
1) Laurel Hewitt-Sewer, Chair;
2) Yvonne Thraen, Vice Chair;
3) Claude Walker, Secretary;
4) Jose A. Penn, Member;
5) Beverly Nicholson-Doty, Member;
6) Nelson Petty, Member;
7) Marvin Forbes, Member;
8) Lee Steiner, Member; and
9) Vacant.

The Executive Director of the Virgin Islands Port Authority is Mr. David W. Mapp, Sr.



Edited 1 time(s). Last edit at 06/02/2018 06:59AM by Gator's Mom.

Re: Does Denmark still get port fees?

caribstx
June 02, 2018 08:14AM

Registered: 4 years ago
Posts: 434

Quote
ms411
WICO is an asset on GERS balance sheet, and it has been debated for years that WICO and Port Authority are competing against each other to the detriment of VI govt.

It all goes in the same pocket.

Re: Does Denmark still get port fees?

Gator's Mom
June 02, 2018 08:57AM

Registered: 5 years ago
Posts: 831

WICO is NOT an asset of GERS. WICO is solely owned by the Virgin Islands Finance Authority.

Havensight mall is owned by GERS but managed by WICO.



Quote
caribstx
Quote
ms411
WICO is an asset on GERS balance sheet, and it has been debated for years that WICO and Port Authority are competing against each other to the detriment of VI govt.

It all goes in the same pocket.



Edited 1 time(s). Last edit at 06/02/2018 09:03AM by Gator's Mom.

Re: Does Denmark still get port fees?

vicanuck
June 02, 2018 12:58PM

Registered: 8 years ago
Posts: 2,285

WICO and GERS...both semi autonomous instrumentalities of the GVI.

Re: Does Denmark still get port fees?

Gator's Mom
June 02, 2018 01:21PM

Registered: 5 years ago
Posts: 831

GERS is a separate and independent agency of the VI government. Not semi-autonomous.

[viconsortium.com]

Page 422 Governor's May, 30 2018 Budget

GERS was established by Act No. 479 as an independent and separate agency of the Government of the United States Virgin Islands. Responsibility for the operation of the System and the provisions of the V.I. Code are vested in the Board of Trustees, which is composed of seven (7) members; five (5) of whom are appointed by the Governor with advice and consent of the Virgin Islands Legislature. Two (2) members are retirees.

The following members comprise the current Board:
1) Dr. Wilbur Callender, Chairperson (Elected Retiree);
2) Carol Callwood, Vice-Chairperson;
3) Stephen Cohen, Member (Elected Retiree);
4) Vincent Liger, Member;
5) Desmond Maynard, Esq., Member;
6) Michael McDonald, Member; and
7) Leona Smith, Member.
The Administrator/CEO of GERS is Mr. Austin Nibbs, CPA, CGMA.


Quote
vicanuck
WICO and GERS...both semi autonomous instrumentalities of the GVI.

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