Opportunities in Key Sectors

Invest in Marine Services and Transshipment

Our region has a strong presence in the growing offshore oil and gas industry, including supply, servicing and transhipment.

Bay Bulls Marine Terminal (BBMT) is an active supply base operated by Pennecon, servicing offshore oil projects including Hibernia, Terra Nova and White Rose, building upon the location of this port in relationship to St. John’s and to the oilfields themselves. The facility consists of 14 acres of waterfront property in this sheltered, ice-free, deepwater port with good transportation links with St. John’s harbour and industrial parks. In addition to berthing and warehousing the supply base offers cargo handling, pumping and secure storage. The base handles drill rig repairs and upgrades as well as loading and discharging vessels.

Bay Bulls, Fermeuse and Trepassey are transshipment ports for swordfish landed by the US fleet for shipment to the United States. In addition to the offshore supply base at Bay Bulls there is a proposal by the Avalon Offshore Marine Base to develop a second offshore supply base in the Irish Loop at Fermeuse. The port is close to existing and planned offshore installations and to major international shipping lanes, has a deep water approach and berthage, a 350 meter wide approach channel along with a  large area of land for lay down and site development.  This marine base is an attraction to outside investment.

Another opportunity is the servicing of recreational boaters from the United States, Europe and Canada. The service offers overwinter storage. Travel lifts are available at Fermeuse and at Admiral’s Beach. Repairs to recreational boats can be undertaken at Bay Bulls, Fermeuse and Admiral’s Beach. A wide ranging spectrum of services are offered to boaters, including berthing, electricity, water, accommodation, food service, repair and storage. As the clientele increases, this spectrum of services are going to be expanded perhaps to construction of recreational boats.

The oil and gas service and support sector has been targeted by the Department of Business as a provincial growth sector. They have designed the Oil & Gas Manufacturing and Services Export Development Fund (OGEDF) to support strategic investments in new business opportunities for large-scale, export-based petroleum fabrication, manufacturing and service provision.