The board of directors of the West Indian Company Limited has unanimously approved its fiscal year 2027 operating budget and reviewed strong cruise growth figures for the current year, the company said in a press release.

WICO president and CEO Joseph Boschulte reported 302 cruise ship calls and 946,199 passengers through May 31 of fiscal year 2026.

“Our FY2027 budget reflects our commitment to responsible fiscal management while advancing the initiatives that support sustainable growth and continued economic impact for the U.S. Virgin Islands,” said Boschulte.

The company’s recently released FY2027 cruise schedule projects 362 vessel calls and approximately 1.2 million passengers, reflecting continued demand for St. Thomas as a Caribbean cruise destination.

The board also received an update on WICO’s 2024 independent audit, which was completed with no major findings, along with confirmation of the renewal of the company’s insurance coverage for the upcoming fiscal year.

On the capital development front, the board reviewed progress on requests for qualifications and proposals for the development of more than 13 acres of upland property, along with planned upgrades to the company’s water distribution system.

The board also received updates on WICO’s ongoing engagement with the Caribbean Tourism Organization and the Florida-Caribbean Cruise Association.