Willemstad
Willemstad pivots from refinery to maritime hub: the 2026 budget prioritizes port development as the government closes the oil chapter that began in 1915.
Willemstad demonstrates how Caribbean port cities must reinvent themselves as traditional industries decline. The UNESCO World Heritage capital hosts one of the largest oil-handling ports in the Caribbean, with a natural harbor accommodating large tankers. Royal Dutch Shell built the refinery in 1915, and it grew to become one of the world's largest. Now the government pivots toward maritime hub development as the refinery era ends.
The 2026 budget signals this transition explicitly, prioritizing port modernization, ship registry digitalization, and maritime cluster strengthening over refinery operations. Port development becomes a government economic diversification spearhead. The Schottegat area behind St. Anna Bay houses the main port facilities, including a dry-dock, container terminal, and cargo wharves. Approximately 60,000 vessels transit the Strait annually.
Qatar's Oryx took over the Bullenbaai terminal in December 2024, with refinery acquisition planned for March 2025, though financial uncertainties persist. Curaçao discontinued the Netherlands Antillean guilder on July 1, 2025, completing another transition. Tourism, financial services, the Free Trade Zone, and international trade diversify beyond petroleum dependency. Willemstad's challenge is converting its strategic position at Mediterranean gateway into sustainable port revenues as refinery contributions fade.