Local retailers have agreed not to protest the arrival of Logos Hope, the world's largest floating bookstore which docked in Hamilton yesterday afternoon.

Shopkeepers agreed the ship represented a direct threat to their bottom line, already weakened by the poor economy and low tourist numbers.

However they said they were heartened by an early invitation to sell their own books on the ship for the duration of its stay here.

"This really is not an ideal situation," said Miriame Kaye, assistant manager at the Bermuda Bookstore on Queen Street. "But they will not be in direct competition to us as they sell more religious and educational books.

"And they have made every effort to lease and work with us something they didn't do before. So we are not thrilled but have become fairly accepting of the situation as there is not much we can do."

Logos Hope travels the world offering discounted books from port to port. It is operated by GBA Ships, an international charitable organisation based out of Germany.

The arrival of her sister ship in 2005, Logos II, sparked controversy over the Christmas holiday that year.

Retailers were furious after learning the Christian charity ship had been given permission to open its discount book store while moored on Front Street.

Kristi Grayston of the Chamber of Commerce said it was unbelievable that the Government would allow what she described as a "floating Barnes & Noble" to compete with local stores in what had been a difficult financial year.

And Bermuda Book Store owner Hannah Wilmot expressed concern that the boat's two-week stay would result in lost money to Bermuda businesses.

"At least they made an effort to come see us this time," said Bookmart general manager Nicole Warren yesterday.

"And we intend to work with them by setting up an area aboard the ship.

"But with this economy it puts us at a huge disadvantage to have a huge ship like that come in for ten days and take away from a largely Bermudian workforce. It is tough because every dollar counts."

The Logos Hope opens to the public today. Opening hours are 10 a.m. to 9.30 p.m. Monday to Saturday and 2.30 p.m. to 9.30 p.m. on Sundays. She will remain in Bermuda until the afternoon of Sunday, April 25.