WILLEMSTAD – Plans to develop Buskabaai into a center for offshore support services and industrial activities are being linked to a proposed €105 million modernization of Curaçao's shipyard, as government-owned CDM Holding seeks to strengthen the island's position in the regional maritime and energy sectors.
The development plans were outlined by CDM Holding director Agustin Diaz during the Venezuela International Oil & Gas Summit in Caracas in late September.
According to Guyanese energy publication OilNOW, the company presented the shipyard modernization and Buskabaai development as complementary initiatives intended to attract specialized maritime and offshore business to Curaçao.
Asphalt Lake Buskabaai
While the CAPEX 2.0 investment program focuses on upgrading the existing shipyard, Buskabaai is being considered for a broader range of industrial and logistical activities.
These could include offshore support operations, heavy steel fabrication, storage facilities and other services associated with the maritime and energy industries.
The proposed development could create additional industrial capacity beyond the existing shipyard infrastructure, allowing Curaçao to accommodate activities that require substantial space and specialized facilities.
Preparations for Buskabaai are being coordinated through a joint working group involving several government-owned companies, the Curaçao Ports Authority and representatives of the maritime sector.
The group is examining the requirements for developing the area and determining how the project could support the island's broader maritime ambitions.
However, significant preparatory work remains necessary before implementation can begin.
Environmental assessments, technical studies, permit procedures and financing arrangements must still be completed.
The project is closely connected to CDM Holding's strategy of attracting business from the offshore oil and gas industries of Guyana and Suriname.
Those industries require a range of specialized maritime services, including vessel repairs, equipment maintenance, heavy industrial fabrication and logistical support.
CDM Holding wants Curaçao to become a destination for services that cannot necessarily be performed at offshore production locations.
The existing shipyard, operated by Damen Shiprepair Curaçao, would provide specialized vessel maintenance and repair services, while Buskabaai could accommodate supporting industrial operations.
The modernization of the shipyard itself is expected to require nearly €105 million.
According to the proposed schedule, engineering and procurement preparations would begin in 2027, followed by phased implementation between 2028 and 2030.
The investments include improvements to the two dry docks, quay walls, access infrastructure, technical installations and cranes.
However, the published information does not establish whether financing for the shipyard modernization has been secured.
The financial requirements and implementation timetable for Buskabaai also remain to be clarified.
No confirmed commercial agreements with offshore companies were identified in the information presented.
Although the two projects could expand Curaçao's industrial capabilities, their development remains dependent on further studies, regulatory approvals, financing and market demand.
The proposals nevertheless indicate that CDM Holding is looking beyond traditional ship repair activities and exploring how Curaçao's maritime infrastructure could support a wider range of industrial services.
If the projects proceed, they would represent an effort to strengthen the island's role in the Caribbean maritime economy by combining shipyard modernization with additional industrial development at Buskabaai.