-finance minister challenges shipping company to employ modern warehouse strategies
AS part of its effort to improve cargo handling and boost capacity, the Guyana National Shipping Corporation (GNSC) has commissioned a $125 million state-of-the-art warehouse at La Penitence.

GNSC, which has been a local leader in shipping for over 40 years, made the new step to improve the services which are offered, said Managing Director of the company, Andrew Astwood, during his presentation at the commissioning of the facility on Monday.
Astwood said the facility was designed by Engineer Marcel Gaskin and built by Nabi Construction Inc. and B and J Civil Works- Construction Services.

“This is part of our 2020 vision, because we want to build two more similar facilities to the north and west of the warehouse,” said the managing director, adding that the facility will enhance the company’s cargo handling capacity ahead of the establishment of the local oil and gas sector in 2020.

The facility is 140 feet by 90 feet, with the highest point of the building being 25 feet. According to Astwood, the building was made from a concrete steel frame with reinforced concrete flooring.

He said the new bond will be able to store about 2,500 tonnes of bulk cargo, a huge boost to the company’s storage capacity.
The new bond was constructed on the company’s property which was purchased from Guyana Pharmaceutical Corporation (GPC) for $300 million in 2000.

With the new facility ready for operation, Minister of Finance Winston Jordan challenged the company to develop modern warehousing strategies.
“Because of the changing business environment and advancement of technology, companies need to adapt to changing customer needs in order to remain relevant and successful,” said the minister, adding that he is certain that the bond is part of the company’s plan to become more relevant and profitable.

He encouraged the company to continue in the path of development but also to consider partnerships to counter financial constraints.

The Guyana National Shipping Corporation was a member of the Booker Group of Companies, trading under the name BOOKERS SHIPPING TRANSPORT AND WHARVES LIMITED.

In 1951, the name was changed to BOOKERS SHIPPING (DEMERARA) LIMITED. On 26th May 1976, when the Guyana Government acquired the holdings of Booker McConnell & Co. Ltd. in Guyana, the entity was renamed “GUYANA NATIONAL SHIPPING CORPORATION LTD.”.

The company traded successfully under this name for the last 32 years and now stands among the foremost companies of its kind in the country. The Guyana National Shipping Corporation Limited renders maritime transportation services to all sectors of the economy.
The Company’s major role in the shipping industry is the provision of related quality services to shipowners, operators, and other customers, locally and internationally.