Dominican Republic To Expand Cruise Tourism With New Port

/0 Comments/in /by

News Americas, New York, NY, March 12, 2025: A top Caribbean nation is expanding its cruise tourism sector with the development of a brand-new cruise port in Barahona, located on the country’s scenic southwest coast. This investment by the Dominican Republic aims to boost tourism in the lesser-visited region while enhancing the country’s growing reputation as a premier Caribbean cruise destination.

Aerial view of the “Los Patos” beach, Barahona, in Dominican Republic. (Photo by FEDERICO PARRA/AFP via Getty Images)

Dominican Republic’s Cruise Boom Continues

The Dominican Republic has seen record-breaking growth in cruise tourism, with passenger arrivals skyrocketing from 1.5 million in 2023 to over 2.6 million in 2024. More than 80% of these passengers arrived in Puerto Plata, the country’s leading cruise port on the north coast.

To diversify tourism and distribute economic benefits more evenly, the Dominican Republic’s Ministry of Tourism has broken ground on the new Barahona cruise terminal. The project is expected to revitalize the local economy and showcase the untouched beauty of the “Pearl of the South.”

What to Expect at the New Barahona Cruise Port

Set for completion in 2026, the Barahona cruise port will feature:
A state-of-the-art cruise ship dock
35 commercial spaces, including restaurants, bars, and retail outlets
An immersive rum-making experience
Access to Barahona’s unspoiled beaches, biodiverse national parks, and world-class coffee farms

Barahona is renowned for its stunning coastal scenery, turquoise waters, and untouched natural reserves, offering ecotourism experiences that set it apart from the Dominican Republic’s more developed cruise destinations like Puerto Plata, Punta Cana, and Santo Domingo.

Expanding Cruise Options in the Dominican Republic

The Barahona cruise port follows the success of the Cabo Rojo cruise terminal in Pedernales, which welcomed its first cruise ships in 2024. Major cruise lines—including Norwegian Cruise Line, Royal Caribbean, and Holland America Line—are increasing calls to Cabo Rojo in 2025 and 2026, with Costa Cruises, MSC Cruises, and Holland America joining the roster. Cabo Rojo is projected to welcome over 100,000 cruise passengers in 2025.

Additionally, the Arroyo Barril port in Samaná is slated for redevelopment to accommodate large cruise ships, transitioning from a tender-only port to a modernized terminal that will attract even more cruise lines.

A Bright Future for Cruise Tourism in the Dominican Republic

With new ports in Barahona and Cabo Rojo and upgrades to existing infrastructure, the Dominican Republic is solidifying its position as a top Caribbean cruise destination. These developments will not only expand tourism but also support local economies and introduce travelers to some of the Caribbean’s most breathtaking and untouched destinations.

Herzfeld Caribbean Basin Fund Abandons Cuba Focus Amid U.S. Policy Stalemate

/0 Comments/in /by

News Americas, New York, NY, March 12, 2025: The Herzfeld Caribbean Basin Fund Inc. (NASDAQ: CUBA) has announced a significant shift in its investment strategy, moving away from its traditional focus on the Caribbean Basin, including Cuba, to concentrate on Collateralized Loan Obligations (CLOs). This decision comes in response to the enduring U.S. embargo against Cuba and the recent re-designation of Cuba as a state sponsor of terrorism by the Trump administration.​

The move comes on the XXV Habanos Festival in Havana on February 28, 2025. (Photo by YAMIL LAGE/AFP via Getty Images)

Impact of U.S. Policy on Investment Strategy

The fund was originally established with the anticipation of capitalizing on investment opportunities that would arise from normalized U.S.-Cuba relations. However, the longstanding embargo and recent policy shifts have limited these prospects. In January 2025, the Trump administration reinstated Cuba’s designation as a state sponsor of terrorism, citing the country’s alleged support for international terrorism and harboring of fugitives. ​

This re-designation imposes additional economic sanctions on Cuba, further restricting the fund’s ability to invest in the region. In light of these developments, the fund’s Board of Directors has approved a transition to a CLO Equity Strategy, aiming to enhance shareholder value by focusing on assets less affected by geopolitical uncertainties.​

Rebranding and Future Outlook

As part of this strategic shift, the fund will undergo rebranding to reflect its new investment focus. Despite the pivot, the fund’s management remains attentive to future changes in U.S.-Cuba relations and retains the option to revisit its original investment objectives should the geopolitical landscape evolve favorably.​

For more information on the fund’s new direction, visit herzfeld.com/cuba.

OECS, New Zealand Forge Historic Partnership To Supercharge Geothermal Energy In The Caribbean

/0 Comments/in /by

News Americas, New York, NY, March 12, 2025: The Organisation of Eastern Caribbean States (OECS) has entered into a landmark partnership with New Zealand to accelerate geothermal energy development across the region. This agreement, formalized during the presentation of credentials by Her Excellency Linda Charlotte Te Puni, New Zealand’s new Ambassador to the OECS, reinforces both parties’ commitment to renewable energy and climate resilience.

Strengthening Geothermal Energy for a Sustainable Future

This collaboration builds on New Zealand’s decade-long support for geothermal energy in the Caribbean and aligns with the OECS 2025-2035 Decade of Action for Sustainable Energy Development. Geothermal energy is central to the OECS’s long-term strategy to reduce reliance on fossil fuels, lower energy costs, and strengthen regional energy security.

Key Areas of Collaboration

As part of the agreement, the OECS will implement a Geothermal Direct Use Strategy to 2035, integrating geothermal energy into sectors such as agriculture, tourism, and manufacturing. The initiative includes:

Enhancing technical expertise through a capacity-building gap analysis.
Supporting the OECS GEOBUILD Programme, which is conducting a six-month study on geothermal skills and training needs.
Facilitating a geothermal resource mapping exercise to guide future investments.
Providing technical assistance for geothermal power generation across the region.

Dominica Leading the Charge

The agreement comes at a pivotal time, as Dominica prepares to launch its first geothermal power plant in 2025. This will make it the second Caribbean territory, after Guadeloupe, to generate electricity from geothermal energy.

Long-Term Vision for a Greener Eastern Caribbean

The OECS GEOBUILD Programme, backed by New Zealand’s Ministry of Foreign Affairs and Trade, the Caribbean Development Bank, and the European Union Caribbean Investment Facility, is playing a crucial role in ensuring the long-term success of geothermal energy in the Eastern Caribbean.

With technical support from the Aotearoa New Zealand-Caribbean Facility for Renewable Energy (FRENZ), this initiative will help the region overcome workforce challenges, build local expertise, and enhance energy security.

This groundbreaking partnership positions the Eastern Caribbean at the forefront of renewable energy innovation, paving the way for a sustainable, low-carbon future.