Our robust maritime infrastructure, strategic geographic location, specialized value chain and ecosystem provide the right environment for your commercial maritime operations or leisure marine activities.
Increased activity in the manufacturing sector and requisite growth in import/export trade has led to growth in the Commercial Maritime services industry. Trinidad and Tobago is now a strategic transshipment sub-hub for exporters wishing to target other smaller Caribbean islands and the mainland in South America.
The calm waters of the Gulf are ideal for companies wishing to transship raw materials out of South American countries such as Brazil, Venezuela and Guyana to European and Asian markets.
T&T’s natural and safe harbour makes it a preferred location for the storage of ships. This may be particularly useful to oil and gas services companies during periods of business slowdown .
Ship Repair & Dry-docking Services
There are several ship repair facilities located in Trinidad including one dry dock facility with a lifting capacity of 23,000 metric tonnes (MT) and an overall length of 230 meters
The country’s leisure marine activities are concentrated in the Chaguaramas cluster tucked in the north-western peninsula of Trinidad.
Key to this cluster is the Chaguaramas Bay which is an exceptionally sheltered natural harbour. It is one of the best locations in the Caribbean for yacht storage and repair centres.
Import Duty Concessions
Locally registered firms engaged in ship building and ship repair are allowed duty free treatment on their machinery, equipment and materials for use in the boat and ship building and repairs industry.
Value Added Tax Exemption
Repair services for ships involved in commercial maritime are exempt from VAT under the provisions of the Value Added Tax Act
Companies are allowed expenses reasonably incurred in the training and retraining of employees up to 150% of such expenditure under Section 10E of the Corporation Tax Act, Chapter 75:02.
Under the Corporate Tax Act, any company which promotes or sponsors yachting will be allowed an allowance equal to 150% of the actual expenditure incurred in respect of such promotion or sponsorship, up to a maximum of $450,000.