Premier Ralph O'Neal, OBE announced on Tuesday that the Cabinet has decided to defer indefinitely the implementation of harbor fees for vessels entering or remaining in territorial waters or those using BVI Ports Authority facilities. The new fee structure would have taken effect on July 1st but was subsequently deferred until July 15th. The new fees would have made the BVI one of the most expensive sailing destinations in the world.

"It must be remembered that the yachting industry contributes to the economy of the Territory and the yachtsmen enjoy our waters from Anegada to Jost Van Dyke," the Premier stated. In the prepared statement issued on Tuesday, he added that "Cabinet has therefore decided that implementation of the fee structure should be deferred indefinitely."

The decision was taken to defer the introduction of fees in an attempt to protect the Territory's competitive edge as a yachting destination.