Ultrapetrol (Bahamas) Ltd, an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), announced Friday that on July 10, 2013, the company will redeem all $180 million of its outstanding 9 per cent First Preferred Ship Mortgage Notes due 2014.

Deputy Prime Minister Phillip Davis has said that the government expects to see changes at the nation's flag carrier over the next fiscal year, as a series of initiatives take root.