Financial & Management Consulting.

 

Bermello, Ajamil & Partners has been assisting Port Authorities, Private Companies and Governments in evaluating financial and management aspects of their port operations for over 20 years throughout the world. BA has the most experience in assisting the development and finance of ports and in particularly cruise ports. Our work includes not only the development of the financial and business plan from which negotiations can take place but to the actual negotiation and drafting of user agreements between the parties.

Among Our Services:

Negotiations

The negotiations between cruise lines and ports or governments can take a variety of directions or strategies

  • Memorandum of Understandings: Where parties agree to cooperate, but not necessarily guarantee traffic or funds.
  • Usage Agreements: Win which cruise lines agree to guarantee a minimum annual number of passengers usually linked to specific tariffs or rates. These types of agreements usually impose limitations in terms of future rate increases as well as requirements for preferential berth guarantees.

  • Financial Guarantees: Linked to annual payments. Like usage agreements, these usually also have some form of linkage to tariff and preferential benefits.

  • Direct Investment: these are agreements where cruise lines have provided funding as a loan to a government in return for certain benefits like preferential berthing. These types of loans usually carry payment provisions with interest.

In some cases, BA has taken the lead position of negotiating agreements and in others BA has been providing the consultation to the Government or Owner behind the scenes. Since BA has been involved in so many of these deals, BA maintains a library of typical agreements. 

 

Our Negotiation Experience includes:

Financial Modeling
Bermello, Ajamil & Partners has one of the most robust financial modeling practices for cruise ports in the world and can custom tailor the financial model to replicate the condition being studied based on the business model and concession agreement that is planned.

Typically, BA builds an interactive model that would allow the Owner, banks or other parties the ability
to test and understand different variables, and easily create sensitivity analysis that can be used for negotiations by allowing studies of different tariffs or rate structures. The models are sensitive to the operating conditions of the area and will also be sensitive to utilization.

Below is some of the most recent work that BA has also completed modeling for the following cruise
operations:

Supporting project financing:

BA has developed financial models and has participated with underwriters, banks, rating agencies in the raising of capital for Port projects including:

Comparative tariff studies:

BA has performed a significant number of comparative tariff studies for ports throughout the Caribbean and the world including:

Leadership
Maritime

Luis Ajamil, PE

President, Chief Executive Officer

Mark Ittel

Sr Vice President of Ports and Maritime, Board Member

Luis de Carvalho

Managing Director Europe

Daniel Ramos, PE, WEDG

Director, Ports & Maritime Engineering / Senior Associate

Felipe Alespeiti, RA

Sr. Planner, Facility Planning & Design / Partner

Leah McKenny

Project Manager, Sr. Maritime Market & Financial Analyst / Senior Associate

Jim Rowe, AIA

Sr. Cruise Facility Design Lead / Partner / Board Member

Scott Bakos

Sr. Cruise Destination Design Lead / Partner / Board Member

James Bowers, AIA, NCARB and LEED AP

Sr. Cruise Facility Design Lead / Partner

Maritime News

BA distributes Cruise & Maritime Bulletins to more than 5,000 global contacts in the port, cruise, and maritime industry monthly on an array of timely topics.  Learn more about the latest news about the BA Ports & Maritime Group.

TEST POST

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PortMiami Terminal V Bulkhead  | 2022 Project of the Year Award, ASCE Miami-Dade Branch

Bermello Ajamil & Partners (BA) is honored to receive the 2022 ASCE Project of The Year Award for our innovative and unique design of PortMiami’s Terminal V Bulkhead to expand an existing cruise berth for Virgin Voyages Cruise Line…

BA CRUISE BULLETIN – The Industry’s Quarterly Update from the Big Three (Public) Companies

This quarter’s earnings reports from Carnival Corp. (June 24), Royal Caribbean Group (July 28), and NCLH (August 9) have sent stocks down, up, and back down again, but overall, the business seems to have taken positive turns, including each company’s operating cash flow for the quarter…

BA CRUISE BULLETIN – Another Global Hurdle for the Cruise Industry?

According to the most recent World Bank’s latest Global Economic Prospects Report, compounding the damage from the pandemic, the Russian invasion of Ukraine has magnified the slowdown in the global economy, which is entering what could become a protracted period of feeble growth and elevated inflation…

Caen-Ouistreham partners with B&A Europe to develop cruise facilities

The port of Caen-Ouistreham and the destination Caen la Mer, Normandy hired port and destination development firm Bermello Ajamil & Partners Europe (B&A Europe) to assist with two projects: developing new cruise facilities at Nouveau Bassin and executing a study to evaluate further potential of the Nouveau Bassin area for cruise lines.

BA CRUISE BULLETIN – 95% Berths in Operation by August; Talk to Us at Seatrade to See What That Means for You!

It has been a while since our BA team ventured forth and sent out a cruise bulletin, mostly focused on Covid-19 and the cruise industry recovery…

Feasibility and Economic

Financial & Management Consulting.

Bermello, Ajamil & Partners has been assisting Port Authorities, Private Companies and Governments in evaluating financial and management aspects of their port operations for over 20 years throughout the world. BA has the most experience in assisting the development and finance of ports and in particularly cruise ports. Our work includes not only the development of the financial and business plan from which negotiations can take place but to the actual negotiation and drafting of user agreements between the parties.

Among Our Services:

Negotiations

The negotiations between cruise lines and ports or governments can take a variety of directions or strategies

  • Memorandum of Understandings: Where parties agree to cooperate, but not necessarily guarantee traffic or funds.
  • Usage Agreements: Win which cruise lines agree to guarantee a minimum annual number of passengers usually linked to specific tariffs or rates. These types of agreements usually impose limitations in terms of future rate increases as well as requirements for preferential berth guarantees.

  • Financial Guarantees: Linked to annual payments. Like usage agreements, these usually also have some form of linkage to tariff and preferential benefits.

  • Direct Investment: these are agreements where cruise lines have provided funding as a loan to a government in return for certain benefits like preferential berthing. These types of loans usually carry payment provisions with interest.

In some cases, BA has taken the lead position of negotiating agreements and in others BA has been providing the consultation to the Government or Owner behind the scenes. Since BA has been involved in so many of these deals, BA maintains a library of typical agreements. 

Our Negotiation Experience includes:

Financial Modeling
Bermello, Ajamil & Partners has one of the most robust financial modeling practices for cruise ports in the world and can custom tailor the financial model to replicate the condition being studied based on the business model and concession agreement that is planned.

Typically, BA builds an interactive model that would allow the Owner, banks or other parties the ability to test and understand different variables, and easily create sensitivity analysis that can be used for negotiations by allowing studies of different tariffs or rate structures. The models are sensitive to the operating conditions of the area and will also be sensitive to utilization.

Comparative tariff studies:

BA has performed a significant number of comparative tariff studies for ports throughout the Caribbean and the world including:

Supporting project financing:

BA has developed financial models and has participated with underwriters, banks, rating agencies in the raising of capital for Port projects including:

Below is some of the most recent work that BA has also completed modeling for the following cruise
operations:

Leadership
Maritime

Luis Ajamil, PE

President, CEO, Principal-in-Charge

Mark Ittel

Sr Vice President of Ports and Maritime, Board Member

Luis de Carvalho

Managing Director Europe

Daniel Ramos, PE, WEDG

Director, Ports & Maritime Engineering / Senior Associate

Felipe Alespeiti, RA

Sr. Planner, Facility Planning & Design / Partner

Leah McKenny

Project Manager, Sr. Maritime Market & Financial Analyst / Senior Associate

Jim Rowe, AIA

Sr. Cruise Facility Design Lead / Partner / Board Member

Scott Bakos

Sr. Cruise Destination Design Lead / Partner / Board Member

James Bowers, AIA, NCARB and LEED AP

Sr. Cruise Facility Design Lead / Partner

Maritime News

BA distributes Cruise & Maritime Bulletins to more than 5,000 global contacts in the port, cruise, and maritime industry monthly on an array of timely topics.  Learn more about the latest news about the BA Ports & Maritime Group.

TEST POST

This is a test post.

PortMiami Terminal V Bulkhead  | 2022 Project of the Year Award, ASCE Miami-Dade Branch

Bermello Ajamil & Partners (BA) is honored to receive the 2022 ASCE Project of The Year Award for our innovative and unique design of PortMiami’s Terminal V Bulkhead to expand an existing cruise berth for Virgin Voyages Cruise Line…

BA CRUISE BULLETIN – The Industry’s Quarterly Update from the Big Three (Public) Companies

This quarter’s earnings reports from Carnival Corp. (June 24), Royal Caribbean Group (July 28), and NCLH (August 9) have sent stocks down, up, and back down again, but overall, the business seems to have taken positive turns, including each company’s operating cash flow for the quarter…

BA CRUISE BULLETIN – Another Global Hurdle for the Cruise Industry?

According to the most recent World Bank’s latest Global Economic Prospects Report, compounding the damage from the pandemic, the Russian invasion of Ukraine has magnified the slowdown in the global economy, which is entering what could become a protracted period of feeble growth and elevated inflation…

Caen-Ouistreham partners with B&A Europe to develop cruise facilities

The port of Caen-Ouistreham and the destination Caen la Mer, Normandy hired port and destination development firm Bermello Ajamil & Partners Europe (B&A Europe) to assist with two projects: developing new cruise facilities at Nouveau Bassin and executing a study to evaluate further potential of the Nouveau Bassin area for cruise lines.

BA CRUISE BULLETIN – 95% Berths in Operation by August; Talk to Us at Seatrade to See What That Means for You!

It has been a while since our BA team ventured forth and sent out a cruise bulletin, mostly focused on Covid-19 and the cruise industry recovery…

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