A Mexican marina under IGY Marinas’ management for several years is currently in the hands of the country’s port authority and navy. Although the docks remain operational, Marina Cabo San Lucas is under government control.
According to the Mexican newspaper Diario El Independiente, a siren sounded in the marina the morning of April 11. The siren reportedly alerted those in the marina that the docks were closed. Representatives of the Mexican Navy, municipal police, and other government officials chained and locked the gates. Additionally, the newspaper states, representatives of the Administration of the National Port System (ASIPONA) informed captains and tour operators within Marina Cabo San Lucas that the closure resulted from the end of IGY Marinas’ concession for the property.
An IGY Marinas’ spokesperson declined to comment when contacted for details. However, in a filing with the U.S. Securities and Exchange Commission (SEC) on April 17, MarineMax confirmed the takeover. MarineMax acquired IGY Marinas in 2022. The filing says the seizure happened “without warning or notice.” Additionally, it indicates that officials initiated sanctions proceedings against Cabo Marina, the IGY Marinas’ subsidiary operating the facility. Furthermore, MarineMax states, Cabo Marina had filed an application for a new concession on March 21. However, ASIPONA allegedly rejected the application the same day that it seized the marina. “The General Directorate of Ports and ASIPONA subsequently forced Cabo Marina to cease operations, and ASIPONA took control of the Port of Cabo San Lucas,” the SEC filing reads.
MarineMax says it’s working with both American and Mexican government officials to resolve the situation. Additionally, MarineMax “may resort to legal action to enforce its rights if diplomatic efforts fail,” according to the SEC filing. It adds that Cabo Marina has operated Marina Cabo San Lucas for more than two decades. Furthermore, MarineMax “believes that the takeover of Cabo Marina’s facilities is illegal and that the alleged violations underlying the sanctions proceedings against Cabo Marina are illegitimate.” The filing does not elaborate on the alleged violations.
Diario El Independiente reports that the Mexican government officially published news of ASIPONA receiving the concession for a 50-year period on March 22.
We reached out to ASIPONA via its website and email for comment. But both messages were returned as undeliverable.
IGY Marinas igymarinas.com
Murphy
Isn’t this a good thing? Mexican government/navy are going to run their own marina instead of some corporation located out of Clearwater FL that has little concern for the locals. The marina is a gold mine, with limited slips and a booming development, ie, grey ghost, the demand will greatly exceed the supply of slips. Good for Mexico