The newly appointed Board of Directors of the Virgin Islands Shipping and Maritime Authority has concluded its inaugural orientation session and is now a fully operational statutory board.
Permanent Secretary in the Premier’s Office Mrs. Carolyn Stoutt Igwe in remarks said the session marked a pivotal moment in the Authority’s transition from the Virgin Islands Shipping Registry to a fully operational statutory board under the Virgin Islands Shipping and Maritime Authority Act, 2023. Mrs. Stoutt Igwe also underscored the strategic importance of the Authority in enhancing maritime governance and fostering economic sustainability for the Virgin Islands.
The Permanent Secretary said the Board was appointed at a crucial time as there are ongoing efforts to strengthen the governance framework of statutory boards as part of the Virgin Islands Modern Governance Approach.
The session included a review of the Statutory Boards Policy, which ensures that Statutory Boards align with best practices in governance and operational procedures.
Mrs. Stoutt Igwe stated that the Authority’s Board will operate within the established policy framework and firmly cautioned against non-compliance. She also commended Director Mr. John Samuel and his team for laying an excellent framework to enable a smooth transition from the department to the statutory board.
Meanwhile, Deputy Director of Human Resources Ms. Kaisa Penn briefed the Board members on the framework for the transition of existing personnel from the Virgin Islands Shipping Registry over to the Authority and detailed plans were outlined to effect a seamless transition and ensure continuity and efficiency in operations under the new Authority.
Directors were introduced to key members of the Executive Team of the Virgin Islands Shipping Registry during the session. They affirmed their commitment to uphold the highest standards of confidentiality and ethical conduct by signing the Oath of Confidentiality. The directors also received a thorough briefing on the legislative framework governing the Authority, emphasising their responsibilities and the operational scope envisioned by the Act.
The newly appointed Board of Directors will commence their official duties on September 1. They are Mr. Romney Penn (Chairman), Ms. Hermia Tench (Deputy Chairman), Mr. Albert Wheatley, Mr. Berke Ayazli, Ms. Rochelle Lawrence, Mrs. Mitsy Ellis-Simpson, and Mr. Olanzo Boynes.
Chairman Penn stated, “I am happy for this great opportunity. Based on my experience with managing various companies, locally and internationally, I will be able to make difficult decisions as necessary.” He added, “There are many boats that do not bear our name and I think we should fully tap into those markets.”
Select sections of the Virgin Islands Shipping and Maritime Authority Act (1, 2, 3, 8, 9 and 10) came into effect on December 15, 2023. With the remainder of the Act set to come into force on August 15, 2024, the operational integration of the Virgin Islands Shipping Registry under the new governance structure is nearing completion. This milestone signifies a significant step towards achieving self-sufficiency and sustainable revenue levels for the Virgin Islands’ economy through enhanced maritime activities.
The new Authority is expected to improve the ability of the Virgin Islands to maintain a fully functional Category I British Maritime Administration, through consistent compliance with Global and UK implemented maritime standards. The new structure also improves the efficiency, resiliency, and business flexibility required to compete in the very competitive maritime flagging marketplace.
The change in business model places the Virgin Islands Shipping and Maritime Authority on equivalent operational footing with its competitors and significantly increases the potential for success of the VI flag in the marketplace.