After over three decades of rivalry, John Fernandes and Muneshwers have leveraged their expertise and capital together to create – Cranes Guyana, a joint cargo and freight company to meet the growing demands of Guyana’s development.
On Friday, Cranes Guyana officially commissioned two mobile harbour cranes that will see a faster and safer development for ports.
This collaboration also marks a significant step toward port modernisation in Guyana. The companies engaged the Inter-American Development Bank (IDB) for finance needed to purchase the two cranes, named Atlas and Hercules, each with a lifting capacity of 125 tonnes, and a 49 metres operating capacity.
US$14 million was used to finance the purchase of the cranes and the joining of the two ports.
The deployment of these cranes has already begun, allowing vessels without onboard cranes to be serviced efficiently. Previously, vessels needed to have onboard cranes to offload cargo.
“John Fernandes Ltd was incorporated in 1959 and Muneshwers Ltd got into the shipping industry in 1992, and so we have competing against each other for some 33 years,” Phillip Fernandes, CEO of John Fernandes and Director of Cranes Guyana stated during remarks.
Fernandes highlighted that all the works done to accommodate the two massive cranes were designed and constructed by local companies.
During his remarks, Robin Muneshwer, Executive Director of Muneshwar and Director of Cranes Guyana, emphasised that both companies recognised a greater common good beyond their individual interests. He stated that this partnership serves as a lesson for the private sector in Guyana, demonstrating how collaboration can drive national development.
“We each recognising that there was a common good bigger than any one of us, yet still cognizant of our desires to maintain our separate identities and culture,” Muneshwer said.
He further noted that the introduction of these cranes represents the future of shipping in the country.
The companies are also engaging with the government to establish a national port in Guyana.
President Irfaan Ali, in his address, commended the partnership and stated that the government will be aggressively pursuing such initiatives with the IDB.
“Today, we witness that evolution where competition gives way to collaboration and individual strengths merge to create something even more powerful, this joint venture is proof that when businesses join forces they don’t just grow they prosper,” President Ali said.
The Head of State also urged the private sector to adopt more creative approaches to competitiveness, stressing that now is the time to build consortiums and forge partnerships with both local and international companies.
“It is time for local companies to embrace a new mindset, one that encourage them to think bigger, act bolder and grow together.”
Further, President Ali said this development is a significant win for local content, demonstrating the strength of strategic collaboration in the shipping and logistics industry.
Despite these advancements, challenges remain. A shortage of waterfront land poses a constraint for businesses looking to expand port facilities, while limitations on the size of vessels navigating the Demerara River continue.
But President Ali assured that these challenges are expected to be addressed through capital investments included in this year’s $1.3 trillion budget.
