The initiation of cargo operations at the Berbice deep-water port facility, spearheaded by Canadian oil explorer CGX Energy Inc., is slated for the second quarter of 2024, as revealed in the company’s March 2024 financial statements.
This announcement comes after a series of delays encountered by the company. Notably, in its August 2023 financial statements, CGX, undertaking the port’s construction through its subsidiary, Grand Canal Industrial Estates Inc. (GCIE), indicated a postponement until the following year (2024). This has now been solidified through the announcement in its financial statements.
Located adjacent to Crab Island on the Eastern Bank of the Berbice River, the port is being designed to cater to a spectrum of industries, including oil and gas, agriculture, and general cargo transportation. Additionally, it will handle containerized and specialized cargo, such as aggregates essential for construction endeavors.
The completion of the 50 x 12 m access trestle, extending from the quayside yard westward into the Berbice River, has already been accomplished within budget and devoid of any health and safety incidents, as outlined in the financial documents. CGX emphasized that the impetus for expediting cargo operations stems from the Guyanese government’s announcement of significant infrastructure projects in Region Six, particularly in relation to the importation and storage of construction materials like aggregates.
Anticipated to commence in the second quarter of 2024, initial cargo operations will predominantly focus on loading and offloading barges, primarily carrying aggregates, from the completed trestle. Furthermore, preparations involve constructing a ramp for trestle access and installing mooring piles to facilitate barge docking.
The full-fledged operation of the cargo terminal is forecasted for the end of 2024, with support for oil and gas operations projected for 2025, contingent upon construction timelines, financing, and supply chain logistics.
While this is good news for the company, of significance is Vice President Dr. Bharrat Jagdeo’s statement, following CGX’s third delay announcement in August last year. Jagdeo had underscored that while the port is labeled a deep-water facility by CGX, it lacks the capacity to accommodate massive vessels.
“Deep-water port would be a port that can bring in the massive vessels. In the Berbice River, that location, it’s hard to do a deepwater port,” Jagdeo noted.
He clarified that a true deep-water port should be capable of harboring Panamax vessels, the largest vessels transiting the Panama Canal, which require a draught of 12 meters. CGX’s project aims for a draught of 7 meters in a basin with an 8.5-meter depth, deviating from the Panamax vessel requirements defined by US maritime agencies.
