Tribute to a shipping industry legend

Published June 19, 2019 Huntley Medley/ Senior Business Writer H ARRIAT ‘HARRY’ Maragh has built up significant holdings over many decades in the shipping industry. He now owns multimillion- dollar properties adjacent to the port of Kingston where he once fished and caught crabs as a little boy growing up in Greenwich Town, a sprawling inner-city community in proximity to the port. His flagship business, Lannaman and Morris Shipping Limited, with a staff of 107, is said to be hitting the $1-billion mark in annual revenues, with profitability in the business believed to be anywhere between 20 and 40 per cent of gross earnings. “Over the past 20 years, we have never lost money,” the businessman said of the now- diversified business. Among the many lessons the former head of the Shipping Association of Jamaica has learned over his 45 years in shipping and allied businesses is the well-known adage to never put all his investment eggs in one basket. The 68-year-old investor, who raised $70 million in loan financing to buy out Lannaman and Morris, the shipping agency he previously worked for, having joined as a shipping salesman in 1984, is activating plans to build new logistics warehousing space at Ferry in St Catherine, at a cost of $1 billion. The planned warehouse, with 75,000 square feet of space, is expected to launch Lannaman and Morris Shipping even further into end- to-end international transport, storage, retrieval and delivery of goods to clients. “We are just about finalising the architectural drawings. Warehouses are in short supply in Kingston, and we think that is the way to go,” Maragh told Financial Gleaner in an interview. With construction programmed for 10 months, the new facility is expected to be operational by late next year. As margins and profits dwindle for shipping agents, Maragh says, they have been forced to hunt lucrative investments in shipping- related businesses, as well as in ventures with no direct linkage to the industry. Maragh is chief executive and chairman of Lannaman and Morris Shipping and his investment outfit, Metro Investments. He is a shareholder and director of food-service business Margaritaville (Turks) Limited, as well as Express Catering Limited, which operates more than 25 shops in the THE GLEANER, TUESDAY, JANUARY 19, 2021 | www.jamaica-gleaner.com | TRIBUTE TOHARRIAT ‘HARRY’ PERSHADMARAGH E12 Jamaica Trading Services Ltd. hails the life of Dr. Harriat P. Maragh (Harry) who was such a stalwart in the industry, but he was so much more; mentor, friend, savvy business man. A void has been created. Our deepest condolences to his wife Charmaine, children, other family members and the Lannaman and Morris team. We remember Harry with fond thoughts and memories and pray for all at this time of bereavement. Harriat P. Maragh Tribute to Shipper Harry Maragh investing in logistics at Lannaman Looks beyond the port for more earnings Harry in conversation with wife Charmaine Maragh, chairman – Lannaman and Morris Shipping; friend and client Laurry Heffes; and Mezanne Grant, sales & property manager – Lannaman and Morris Shipping. PLEASE SEE LOGISTICS, E14 H arry was a major contributor to the development of Jamaica’s shipping Industry , a friend and a true gentleman in every sense of the word. Cargo Handlers Limited salutes his achievements and wishes to express our sincerest condolences to his family and the staff of Lannaman & Morris Shipping Limited.